Mixed options sentiment in DraftKings (DKNG), with shares up $1.06, or 3.23%, near $34.02. Options volume more than double the daily average with 224k contracts traded and calls leading puts for a put/call ratio of 0.15, compared to a typical level near 0.42. Implied volatility (IV30) dropped 5.26 near 57.8,in the top quartile of the past year, suggesting an expected daily move of $1.24. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Underperform at Northland.
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