Investors with a lot of money to spend have taken a bullish stance on DraftKings 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 14 uncommon options trades for DraftKings.
This isn't normal.
The overall sentiment of these big-money traders is split between 57% bullish and 35%, bearish.
Out of all of the special options we uncovered, 10 are puts, for a total amount of $405,044, and 4 are calls, for a total amount of $152,371.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $37.0 to $50.0 for DraftKings over the last 3 months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $37.0 to $50.0 in the last 30 days.
DraftKings Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DKNG | PUT | TRADE | BEARISH | 07/25/25 | $2.56 | $1.99 | $2.56 | $42.00 | $76.8K | 386 | 300 |
| DKNG | PUT | SWEEP | BEARISH | 09/19/25 | $3.65 | $3.55 | $3.65 | $42.00 | $73.3K | 445 | 2 |
| DKNG | CALL | TRADE | BULLISH | 01/15/27 | $10.9 | $10.35 | $10.69 | $40.00 | $55.5K | 3.4K | 579 |
| DKNG | PUT | TRADE | BULLISH | 07/03/25 | $0.6 | $0.42 | $0.42 | $40.50 | $38.2K | 782 | 2.5K |
| DKNG | PUT | TRADE | BULLISH | 07/03/25 | $0.6 | $0.42 | $0.42 | $40.50 | $35.1K | 782 | 1.6K |
About DraftKings
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 28 states and iGaming in five states, with both products available to around 40% of Canada's population. In 2024, sports revenue was 61% of total sales, i-gaming 32%, and fantasy and lottery 7%. The company also operates a non-fungible token commissioned-based marketplace and develops and licenses online gaming products.
Current Position of DraftKings
- Trading volume stands at 2,497,178, with DKNG's price down by -0.21%, positioned at $41.9.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 29 days.
What The Experts Say On DraftKings
3 market experts have recently issued ratings for this stock, with a consensus target price of $52.67.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from JMP Securities continues to hold a Market Outperform rating for DraftKings, targeting a price of $50. * An analyst from JP Morgan downgraded its action to Overweight with a price target of $50. * An analyst from Citigroup persists with their Buy rating on DraftKings, maintaining a target price of $58.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest DraftKings options trades with real-time alerts from Benzinga Pro.
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