Investors with a lot of money to spend have taken a bearish stance on DraftKings (NASDAQ:DKNG).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DKNG, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for DraftKings.

This isn't normal.

The overall sentiment of these big-money traders is split between 40% bullish and 50%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $63,590, and 8 are calls, for a total amount of $694,710.

Expected Price Movements

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $35.0 to $41.0 for DraftKings over the last 3 months.

Analyzing Volume & Open Interest

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 $35.0 to $41.0 over the preceding 30 days.

DraftKings Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

About DraftKings

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.

Present Market Standing of DraftKings

• Currently trading with a volume of 3,487,632, the DKNG's price is up by 1.78%, now at $37.77.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 34 days.

What The Experts Say On DraftKings

4 market experts have recently issued ratings for this stock, with a consensus target price of $53.5.

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.