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Benzinga
Benzinga
Business
Benzinga Insights

Check Out What Whales Are Doing With DKNG

A whale with a lot of money to spend has taken a noticeably bullish stance on DraftKings.

Looking at options history for DraftKings (NASDAQ:DKNG) we detected 27 strange trades.

If we consider the specifics of each trade, it is accurate to state that 74% of the investors opened trades with bullish expectations and 25% with bearish.

From the overall spotted trades, 20 are puts, for a total amount of $724,607 and 7, calls, for a total amount of $293,192.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $10.0 to $50.0 for DraftKings over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $10.0 to $50.0 in the last 30 days.

DraftKings Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
DKNG PUT SWEEP BULLISH 01/20/23 $50.00 $90.6K 4.2K 37
DKNG PUT SWEEP BULLISH 01/20/23 $50.00 $77.8K 4.2K 64
DKNG CALL SWEEP BEARISH 05/20/22 $15.00 $72.0K 1.2K 224
DKNG CALL TRADE BEARISH 06/17/22 $17.50 $62.2K 2.8K 261
DKNG PUT SWEEP BEARISH 08/19/22 $15.00 $50.8K 2.6K 267

Where Is DraftKings Standing Right Now?

  • With a volume of 12,107,109, the price of DKNG is down -9.19% at $17.3.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 30 days.

What The Experts Say On DraftKings:

  • UBS has decided to maintain their Neutral rating on DraftKings, which currently sits at a price target of $18.

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.

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