A whale with a lot of money to spend has taken a noticeably bearish stance on DraftKings.
Looking at options history for DraftKings DKNG we detected 13 strange trades.
If we consider the specifics of each trade, it is accurate to state that 15% of the investors opened trades with bullish expectations and 84% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $215,356 and 8, calls, for a total amount of $310,725.
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 $7.5 to $50.0 for DraftKings over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for DraftKings options trades today is 808.71 with a total volume of 8,036.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for DraftKings's big money trades within a strike price range of $7.5 to $50.0 over 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 | BEARISH | 05/20/22 | $50.00 | $65.2K | 1.0K | 1 |
| DKNG | CALL | TRADE | BULLISH | 04/29/22 | $10.00 | $49.5K | 916 | 522 |
| DKNG | CALL | TRADE | BEARISH | 04/29/22 | $10.00 | $49.0K | 916 | 622 |
| DKNG | CALL | SWEEP | BEARISH | 04/29/22 | $10.00 | $49.0K | 916 | 422 |
| DKNG | CALL | TRADE | BEARISH | 04/29/22 | $10.00 | $49.0K | 916 | 222 |
Where Is DraftKings Standing Right Now?
- With a volume of 12,876,836, the price of DKNG is down -4.88% at $14.8.
- RSI indicators hint that the underlying stock may be approaching oversold.
- Next earnings are expected to be released in 15 days.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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