DraftKings (DKNG) reported Q2 earnings on Aug. 3 and today traders are piling into out-of-the-money DKNG put options in a near-term expiration. The amount of activity at this strike price likely implies bullish sentiment in DKNG stock.
The Unusual Stock Options Activity Report from Barchart on Aug. 16 shows that over 15,000 put contracts have traded today at the $25.00 strike price for expiration in 16 days (Sept. 1). This strike price is 10% below today's price of $27.82, which means that the strike price is deeply out-of-the-money (OTM).
