Benzinga's options scanner just detected over 9 options trades for DraftKings DKNG summing a total amount of $1,172,846.
At the same time, our algo caught 5 for a total amount of 257,022.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $34.0 and $60.0 for DraftKings, spanning the last three months.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for DraftKings's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across DraftKings's significant trades, within a strike price range of $34.0 to $60.0, over the past month.
DraftKings Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DKNG | CALL | TRADE | BULLISH | 01/16/26 | $2.83 | $2.74 | $2.83 | $60.00 | $849.0K | 3.2K | 0 |
| DKNG | PUT | SWEEP | BULLISH | 05/16/25 | $3.9 | $3.8 | $3.8 | $34.00 | $92.7K | 215 | 244 |
| DKNG | PUT | SWEEP | BULLISH | 10/18/24 | $2.47 | $2.46 | $2.46 | $39.00 | $50.6K | 2.1K | 354 |
| DKNG | PUT | SWEEP | BULLISH | 11/08/24 | $2.36 | $2.19 | $2.18 | $37.00 | $43.6K | 205 | 200 |
| DKNG | PUT | SWEEP | BULLISH | 10/18/24 | $2.5 | $2.46 | $2.46 | $39.00 | $35.1K | 2.1K | 147 |
About DraftKings
DraftKings got its start in 2012 as an innovator in daily fantasy sports. Then, following a Supreme Court ruling in 2018 that allowed states to legalize online sports wagering, the company expanded into online sports and casino gambling, where it generally holds the number two or three revenue share position across states in which it competes. DraftKings is now live with online or retail sports betting in 27 states and iGaming in seven states, with both products available to around 40% of Canada's population. The company also operates a non-fungible token commissioned-based marketplace and develops and licenses online gaming products.
After a thorough review of the options trading surrounding DraftKings, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of DraftKings
- With a trading volume of 3,154,055, the price of DKNG is up by 0.54%, reaching $37.88.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 28 days from now.
What The Experts Say On DraftKings
In the last month, 5 experts released ratings on this stock with an average target price of $54.6.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from UBS has decided to maintain their Buy rating on DraftKings, which currently sits at a price target of $58. * Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $60. * Reflecting concerns, an analyst from Morgan Stanley lowers its rating to Overweight with a new price target of $47. * An analyst from Susquehanna persists with their Positive rating on DraftKings, maintaining a target price of $48. * An analyst from Needham downgraded its action to Buy with a price target of $60.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest DraftKings options trades with real-time alerts from Benzinga Pro.
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