This Is What Whales Are Betting On DraftKings - DraftKings (NASDAQ:DKNG)

Whales with a lot of money to spend have taken a noticeably bullish stance on DraftKings.

Looking at options history for DraftKings (NASDAQ:DKNG) we detected 11 trades.

If we consider the specifics of each trade, it is accurate to state that 45% of the investors opened trades with bullish expectations and 45% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $71,830 and 9, calls, for a total amount of $340,729.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $27.5 and $45.0 for DraftKings, spanning the last three months.

Insights into Volume & Open Interest

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 $27.5 to $45.0 in the last 30 days.

DraftKings Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
DKNG	CALL	SWEEP	BEARISH	03/20/26	$3.35	$3.3	$3.3	$32.50	$70.6K	2.8K	236
DKNG	CALL	TRADE	BEARISH	09/18/26	$2.98	$2.85	$2.85	$45.00	$49.8K	6.3K	176
DKNG	CALL	SWEEP	BULLISH	09/18/26	$2.76	$2.75	$2.75	$45.00	$49.6K	6.3K	357
DKNG	PUT	SWEEP	BULLISH	03/20/26	$3.7	$3.65	$3.65	$30.00	$44.5K	4.1K	8
DKNG	CALL	SWEEP	BULLISH	11/21/25	$3.1	$3.0	$2.98	$27.50	$33.9K	1.2K	997

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 where it competes. DraftKings is now live with online or retail sports betting in 28 states and i-gaming in 5 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 commission-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.

Current Position of DraftKings

Trading volume stands at 5,780,199, with DKNG's price up by 0.26%, positioned at $30.62.
RSI indicators show the stock to be is currently neutral between overbought and oversold.
Earnings announcement expected in 93 days.

Professional Analyst Ratings for DraftKings

In the last month, 5 experts released ratings on this stock with an average target price of $42.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Barclays persists with their Overweight rating on DraftKings, maintaining a target price of $40. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for DraftKings, targeting a price of $48. * An analyst from B of A Securities downgraded its action to Neutral with a price target of $35. * In a cautious move, an analyst from Stifel downgraded its rating to Buy, setting a price target of $46. * Consistent in their evaluation, an analyst from Bernstein keeps a Outperform rating on DraftKings with a target price of $41.

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.

DKNGDraftKings Inc

$21.67-0.41%

Overview

Market News and Data brought to you by Benzinga APIs

To add Benzinga News as your preferred source on Google, click here.