Bearish flow noted in DraftKings (DKNG) with 14,508 puts trading, or 3x expected. Most active are Sep-25 18 puts and Dec-25 12.5 puts, with total volume in those strikes near 8,000 contracts. The Put/Call Ratio is 2.29, while ATM IV is up over 4 points on the day. Earnings are expected on August 7th.
Elevate Your Investing Strategy:
- Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.
- Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week.
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DKNG:
- DraftKings price target raised to $58 from $55 at Citi
- DraftKings Buy Rating Justified by Improved Hold Rate and Robust Revenue Outlook Amid Market Expansion
- Nevada reports May statewide gaming win down 2.18% to $1.29B
- Truist views NJ gaming tax compromise as ‘manageable’
- NJ state budget proposes tax hike on online betting, NJ.com reports