Moderately bullish activity in DraftKings (DKNG), with shares up 1c, or 0.03%, near $30.55. Options volume relatively light with 44k contracts traded and calls leading puts for a put/call ratio of 0.3, compared to a typical level near 0.36. Implied volatility (IV30) is higher by 0.2 points near 52.99,and above the 52wk median, suggesting an expected daily move of $1.02. Put-call skew steepened, indicating increased demand for downside protection, following a downgrade to Neutral at BofA.
Claim 30% Off TipRanks
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Discover top-performing stock ideas and upgrade to a portfolio of market leaders with Smart Investor Picks
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DKNG:
- Midday Fly By: SoftBank exits Nvidia, CoreWeave cuts guidance
- Polymarket announces multi-year partnership with PrizePicks
- DraftKings downgraded, Instacart upgraded: Wall Street’s top analyst calls
- CBRE downgrades DraftKings to Hold on prediction market risk
- DraftKings downgraded to Hold from Buy at CBRE