Looking at the DKNG DraftKings options chain ahead of earnings , I would buy the $17.5 strike price Calls with
2023-6-16 expiration date for about
$2.04 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
The longer expiration date will give me some room in case I'm wrong.
Looking forward to read your opinion about it.
2023-6-16 expiration date for about
$2.04 premium.
If the options turn out to be profitable Before the earnings release, I would sell at least 50%.
The longer expiration date will give me some room in case I'm wrong.
Looking forward to read your opinion about it.
Trade closed: target reached:
DKNG reached the Price Target after earnings. Calls trading at $3 now, from $2.04. i think there is still some upside left by the expiration date.
Comment:
DKNG trading at $21.20 today and calls at $5.20 from $2.04. A decent 2.5X gain. Trade closed.
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