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Whales with a lot of money to spend have taken a noticeably bullish stance on DraftKings.
Looking at options history for DraftKings (NASDAQ:DKNG) we detected 16 trades.
If we consider the specifics of each trade, it is accurate to state that 68% of the investors opened trades with bullish expectations and 31% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $517,926 and 6, calls, for a total amount of $373,981.
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $55.0 for DraftKings, spanning the last three months.
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in DraftKings's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to DraftKings's substantial trades, within a strike price spectrum from $30.0 to $55.0 over the preceding 30 days.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
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DKNG | CALL | SWEEP | BULLISH | 08/16/24 | $10.35 | $10.25 | $10.35 | $38.00 | $135.5K | 253 | 0 |
DKNG | PUT | TRADE | BULLISH | 06/21/24 | $0.79 | $0.78 | $0.78 | $35.00 | $124.8K | 4.0K | 1.6K |
DKNG | CALL | TRADE | BULLISH | 05/17/24 | $1.69 | $1.65 | $1.68 | $50.00 | $84.0K | 5.4K | 93 |
DKNG | PUT | TRADE | BEARISH | 12/19/25 | $11.5 | $10.3 | $11.3 | $47.00 | $79.1K | 187 | 0 |
DKNG | PUT | TRADE | BULLISH | 01/16/26 | $6.7 | $6.55 | $6.55 | $37.00 | $57.6K | 541 | 88 |
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 sports betting in 24 states (46% of the US population) and iGaming in seven states (11% of US), 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.
In light of the recent options history for DraftKings, it's now appropriate to focus on the company itself. We aim to explore its current performance.
5 market experts have recently issued ratings for this stock, with a consensus target price of $54.8.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for DraftKings with Benzinga Pro for real-time alerts.
Posted In: DKNG