Investors with a lot of money to spend have taken a bullish stance on DraftKings DKNG.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don’t know. But when something this big happens with DKNG, it often means somebody knows something is about to happen.
Today, Benzinga’s options scanner spotted 9 options trades for DraftKings.
This isn’t normal.
The overall sentiment of these big-money traders is split between 55% bullish and 44%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $74,100, and 8, calls, for a total amount of $477,951.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $34.0 to $60.0 for DraftKings over the recent three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for DraftKings’s options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of DraftKings’s whale trades within a strike price range from $34.0 to $60.0 in the last 30 days.
DraftKings 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DKNG | CALL | TRADE | BEARISH | 09/05/25 | $1.15 | $1.06 | $1.07 | $50.00 | $175.6K | 9.9K | 1.6K |
| DKNG | PUT | SWEEP | BULLISH | 08/15/25 | $2.5 | $2.47 | $2.47 | $44.00 | $74.1K | 1.2K | 448 |
| DKNG | CALL | SWEEP | BULLISH | 09/19/25 | $10.85 | $10.7 | $10.85 | $34.00 | $54.2K | 562 | 63 |
| DKNG | CALL | SWEEP | BULLISH | 09/19/25 | $10.6 | $10.45 | $10.6 | $34.00 | $53.0K | 562 | 63 |
| DKNG | CALL | SWEEP | BEARISH | 09/18/26 | $9.6 | $9.5 | $9.6 | $42.50 | $48.0K | 79 | 50 |
About DraftKings
DraftKings got its start in 2012 as an innovator in daily fantasy sports. Then, following a Supreme Court ruling in 2018 that allowed states to legalize online sports wagering, the company expanded into online sports and casino gambling, where it generally holds the number two or three revenue share position across states in which it competes. DraftKings is now live with online or retail sports betting in 28 states and iGaming in five states, with both products available to around 40% of Canada’s population. In 2024, sports revenue was 61% of total sales, i-gaming 32%, and fantasy and lottery 7%. The company also operates a non-fungible token commissioned-based marketplace and develops and licenses online gaming products.
After a thorough review of the options trading surrounding DraftKings, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of DraftKings
- With a volume of 4,843,864, the price of DKNG is down -2.2% at $44.05.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 5 days.
What The Experts Say On DraftKings
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $54.2.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge’s Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for DraftKings, targeting a price of $52.
* An analyst from Jefferies has decided to maintain their Buy rating on DraftKings, which currently sits at a price target of $53.
* Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on DraftKings with a target price of $55.
* Consistent in their evaluation, an analyst from Stifel keeps a Buy rating on DraftKings with a target price of $51.
* An analyst from Susquehanna has decided to maintain their Positive rating on DraftKings, which currently sits at a price target of $60.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest DraftKings options trades with real-time alerts from Benzinga Pro.
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