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Whales with a lot of money to spend have taken a noticeably bearish stance on DraftKings.
Looking at options history for DraftKings (NASDAQ:DKNG) we detected 17 trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 47% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $191,458 and 12, calls, for a total amount of $605,493.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $30.0 to $50.0 for DraftKings over the last 3 months.
In terms of liquidity and interest, the mean open interest for DraftKings options trades today is 4055.14 with a total volume of 5,776.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for DraftKings's big money trades within a strike price range of $30.0 to $50.0 over the last 30 days.
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
---|---|---|---|---|---|---|---|---|---|---|---|
DKNG | CALL | TRADE | BEARISH | 01/16/26 | $7.65 | $7.5 | $7.5 | $40.00 | $130.5K | 897 | 232 |
DKNG | CALL | TRADE | BULLISH | 06/20/25 | $3.5 | $3.35 | $3.45 | $45.00 | $86.2K | 381 | 250 |
DKNG | CALL | SWEEP | BEARISH | 02/21/25 | $5.95 | $5.8 | $5.8 | $34.00 | $63.8K | 584 | 1 |
DKNG | CALL | SWEEP | BEARISH | 09/06/24 | $1.01 | $0.87 | $1.01 | $34.50 | $45.0K | 3.0K | 2.2K |
DKNG | CALL | TRADE | BEARISH | 01/16/26 | $7.65 | $7.5 | $7.5 | $40.00 | $43.5K | 897 | 0 |
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.
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.
In the last month, 5 experts released ratings on this stock with an average target price of $50.4.
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.
Posted In: DKNG