Looking At DraftKings Recent Whale Trades

A whale with a lot of money to spend has taken a noticeably bullish stance on DraftKings.

Looking at options history for DraftKings DKNG we detected 21 strange trades.

If we consider the specifics of each trade, it is accurate to state that 76% of the investors opened trades with bullish expectations and 23% with bearish.

From the overall spotted trades, 16 are puts, for a total amount of $869,030 and 5, calls, for a total amount of $150,968.

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 $10.0 to $40.0 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 3687.67 with a total volume of 92,332.00.

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 $10.0 to $40.0 over the last 30 days.

DraftKings Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Where Is DraftKings Standing Right Now?

• With a volume of 8,892,936, the price of DKNG is up 3.58% at $18.53.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 86 days.

What The Experts Say On DraftKings:

• Truist Securities has decided to maintain their Hold rating on DraftKings, which currently sits at a price target of $20.
• Truist Securities has decided to maintain their Hold rating on DraftKings, which currently sits at a price target of $16.
• Barclays has decided to maintain their Equal-Weight rating on DraftKings, which currently sits at a price target of $18.
• Morgan Stanley has decided to maintain their Overweight rating on DraftKings, which currently sits at a price target of $30.

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.

If you want to stay updated on the latest options trades for DraftKings, Benzinga Pro gives you real-time options trades alerts.