Option traders moderately bearish in DraftKings (DKNG), with shares down 30c near $35.20. Options volume relatively light with 53k contracts traded and calls leading puts for a put/call ratio of 0.4, compared to a typical level near 0.37. Implied volatility (IV30) is higher by 3.9 points near 64.56, in the highest 10% of observations over the past year, suggesting an expected daily move of $1.43. Put-call skew steepened, indicating increased demand for downside protection, following an upgrade to Buy at Berenberg.
Claim 70% Off TipRanks This Holiday Season
- Unlock hedge fund-level data and powerful investing tools for smarter, sharper decisions
- Stay ahead of the market with the latest news and analysis and maximize your portfolio's potential
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
Read More on DKNG:
- NY casino license withdrawal positive for MGM Resorts, says Morgan Stanley
- DKNG, RKLB, and RBLX Among Cathie Wood’s Top Trades on Tuesday (October 14)
- Cathie Wood’s ARK Investment buys 236.3K shares of DraftKings today
- DraftKings price target lowered to $59 from $64 at Susquehanna
- DraftKings price target lowered to $30 from $33 at Northland