Understanding Recent DraftKings Options Activity and Insights
DraftKings Options Activity Overview
The financial landscape has recently seen a notable bearish trend in DraftKings. Our examination of options trading history for DraftKings (NASDAQ: DKNG) highlights 18 unusual trades that have caught attention.
Trading Sentiment Breakdown
When diving into the specifics, we observed that approximately 38% of traders are exhibiting bullish sentiment, while 50% lean towards bearish strategies. Out of the transactions we collected, nine were puts valued at $721,175, whereas nine were calls, with a total worth of $563,353.
Exploring Price Targets
Price Range Analysis
Upon reviewing the volume and open interest for these contracts, it appears large investors are eyeing a price window between $30.00 and $40.00 for DraftKings over the past quarter.
Volume Insights
For today, the average open interest for DraftKings options trades stands at 4,855 with a substantial trading volume of 19,895.
Recent Option Activity
30-Day Trading Insights
The prior month has been revealing concerning call and put options for DraftKings, particularly regarding high-value trades operating within the $30.00 to $40.00 strike price range.
Highlighted Options Trades
Here's an overview of significant options trades noted recently:
| Symbol | Type | Trade Method | Sentiment | Expiration Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DKNG | PUT | SWEEP | BULLISH | 10/31/25 | $0.89 | $0.80 | $0.84 | $32.00 | $212.1K | 11.5K | 5.1K |
| DKNG | PUT | SWEEP | BEARISH | 10/31/25 | $0.75 | $0.71 | $0.75 | $32.00 | $146.3K | 11.5K | 871 |
| DKNG | CALL | SWEEP | BEARISH | 01/16/26 | $2.12 | $2.05 | $2.05 | $35.00 | $102.5K | 17.5K | 2.2K |
| DKNG | CALL | SWEEP | BEARISH | 01/16/26 | $2.16 | $2.11 | $2.11 | $35.00 | $100.8K | 17.5K | 2.7K |
| DKNG | PUT | TRADE | BEARISH | 11/21/25 | $8.80 | $8.80 | $8.80 | $40.00 | $88.0K | 2.4K | 101 |
Overview of DraftKings
DraftKings originated in 2012 as a leader in daily fantasy sports. Following a pivotal Supreme Court decision in 2018, which enabled states to authorize online sports betting, this company expanded into online sports and casino wagering. It holds a significant market share in many states where it operates. Currently, DraftKings has online or retail sports betting in 28 states and i-gaming in 5 states, catering to nearly 40% of Canada’s population. Recent sales figures show sports revenue making up 61% of total income, with i-gaming at 32%, and fantasy and lottery at 7%. Additionally, they run an NFT commission-based marketplace and develop online gaming solutions.
DraftKings's Market Position Today
As of now, DKNG is experiencing a trading volume of 11,669,076, with a price depreciation of -3.64%, bringing it to $31.76. Current RSI metrics suggest the stock may approach oversold territory. The next earnings report is expected soon.
Analyst Perspectives on DraftKings
In the past 30 days, five analysts provided their evaluations for DraftKings, calculating an average price target of $48.00.
Highlighted Analyst Ratings:
Oppenheimer maintains an Outperform rating with a price target of $55. Berenberg has upgraded its rating to Buy and set a price target of $43. Mizuho continues with an Outperform rating at $54. BTIG also holds a Buy rating with a $45 target. Lastly, Benchmark keeps its Buy rating, aiming at $43.
Final Thoughts
Engaging in options trading carries both risks and opportunities. Savvy traders enhance their chances of success through ongoing education, strategy refinement, and active market monitoring. Staying updated on DraftKings' most recent options developments can provide valuable insight.
Frequently Asked Questions
What is DraftKings, and when was it founded?
DraftKings is a leading company in daily fantasy sports started in 2012 and has since expanded into online sports betting and gaming.
What recent trends have been observed in DraftKings options trading?
Recent options trading indicates a bearish sentiment among market players, with significant put and call options activity within specific price ranges.
How do analysts view DraftKings' future performance?
Analysts show cautious optimism with a variety of ratings and price targets, reflecting a mixed outlook for the stock.
What role does volatility play in options trading?
Volatility can amplify risks and rewards in options trading. Traders must adapt their strategies accordingly.
Where can I keep updated on DraftKings options trading?
Staying informed through real-time alerts and reports can help traders monitor the latest developments in DraftKings options trading effectively.
About The Author
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The content of this article is based on factual, publicly available information and does not represent legal, financial, or investment advice. Investors Hangout does not offer financial advice, and the author is not a licensed financial advisor. Consult a qualified advisor before making any financial or investment decisions based on this article. This article should not be considered advice to purchase, sell, or hold any securities or other investments. If any of the material provided here is inaccurate, please contact us for corrections.
