DraftKings Unusual Options Activity - DraftKings (NASDAQ:DKNG)

Core Insights - Deep-pocketed investors are showing a bullish sentiment towards DraftKings, indicating potential significant developments ahead [1] - The options activity for DraftKings is unusually high, with 57% of investors leaning bullish and 38% bearish [2] - The projected price targets for DraftKings range from $20.0 to $50.0 based on recent options trading [3] Options Activity - The mean open interest for DraftKings options trades is 5,557.75, with a total volume of 8,433.00 [4] - Significant options trades include both puts and calls, with notable bearish and bullish sentiments observed [9] Company Overview - DraftKings, established in 2012, has expanded into online sports and casino gambling, holding a strong market position in various states [10] - In 2024, the revenue breakdown shows sports revenue at 61%, i-gaming at 32%, and fantasy and lottery at 7% [10] Analyst Ratings - Recent analyst ratings suggest an average target price of $49.6 for DraftKings, with several analysts maintaining or upgrading their ratings [12][13] Current Market Performance - DraftKings' stock price is currently at $30.92, reflecting a 1.08% increase, with upcoming earnings expected in three days [15]