Financial giants have made a conspicuous bullish move on DraftKings. Our analysis of options history for DraftKings DKNG revealed 12 unusual trades.
Delving into the details, we found 58% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $57,957, and 10 were calls, valued at $514,117.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $20.0 to $45.0 for DraftKings during the past quarter.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for DraftKings's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of DraftKings's whale activity within a strike price range from $20.0 to $45.0 in the last 30 days.
DraftKings 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DKNG | CALL | SWEEP | BULLISH | 11/15/24 | $4.7 | $4.65 | $4.7 | $35.00 | $164.9K | 4.3K | 450 |
| DKNG | CALL | TRADE | BEARISH | 01/17/25 | $1.65 | $1.63 | $1.63 | $45.00 | $56.2K | 16.1K | 292 |
| DKNG | CALL | SWEEP | BEARISH | 02/21/25 | $7.3 | $7.15 | $7.2 | $34.00 | $51.1K | 521 | 72 |
| DKNG | CALL | TRADE | NEUTRAL | 10/11/24 | $1.11 | $0.89 | $0.99 | $38.00 | $49.5K | 550 | 2 |
| DKNG | CALL | TRADE | BULLISH | 11/15/24 | $4.65 | $4.65 | $4.65 | $35.00 | $40.4K | 4.3K | 99 |
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.
Having examined the options trading patterns of DraftKings, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is DraftKings Standing Right Now?
- Currently trading with a volume of 5,729,167, the DKNG's price is down by -4.28%, now at $37.6.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 24 days.
Professional Analyst Ratings for DraftKings
5 market experts have recently issued ratings for this stock, with a consensus target price of $52.2.
Turn $1000 into $1270 in just 20 days?
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 Susquehanna persists with their Positive rating on DraftKings, maintaining a target price of $50. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $60. * An analyst from Benchmark downgraded its action to Buy with a price target of $44. * An analyst from Morgan Stanley has revised its rating downward to Overweight, adjusting the price target to $47. * An analyst from Needham downgraded its action to Buy with a price target of $60.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for DraftKings, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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