Smart Money Is Betting Big In DKNG Options
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards DraftKings (NASDAQ:DKNG) through significant options activities. Benzinga's options scanner highlighted 11 extraordinary options activities, with 54% being bearish. The trading volume and open interest suggest a price range of $28.0 to $55.0 for DKNG. Despite the bearish sentiment, analysts maintain a positive outlook with an average target price of $58.4.
May 31, 2024 | 5:17 pm
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Deep-pocketed investors have shown a bearish sentiment towards DraftKings (NASDAQ:DKNG) through significant options activities. Benzinga's options scanner highlighted 11 extraordinary options activities, with 54% being bearish. The trading volume and open interest suggest a price range of $28.0 to $55.0 for DKNG. Despite the bearish sentiment, analysts maintain a positive outlook with an average target price of $58.4.
The significant bearish sentiment from deep-pocketed investors, as indicated by the options activities, suggests a potential short-term decline in DKNG's stock price. However, the positive analyst ratings and target prices provide a counterbalance, indicating a complex market sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100