Investing

Unusual Call Option Trade in DraftKings Worth $265.02K

George Maybach

Published: April 6, 2023 10:46 pm

Last Updated: April 10, 2023 10:48 am

On April 6, 2023 at 09:54:54 ET an unusually large $265.02K block of Call contracts in Draftkings (DKNG) was sold, with a strike price of $15.00 / share, expiring in 288 days (on January 19, 2024). Fintel tracks all large options trades, and the premium spent on this trade was 2.35 sigmas above the mean, placing it in the 99.46 percentile of all recent large trades made in DKNG options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

Analyst Price Forecast Suggests 37.11% Upside

As of April 6, 2023, the average one-year price target for Draftkings is $24.63. The forecasts range from a low of $13.13 to a high of $39.90. The average price target represents an increase of 37.11% from its latest reported closing price of $17.96.

See our leaderboard of companies with the largest price target upside.

The projected annual revenue for Draftkings is $2,972MM, an increase of 32.65%. The projected annual non-GAAP EPS is -$2.50.

What is the Fund Sentiment?

There are 755 funds or institutions reporting positions in Draftkings. This is an increase of 739 owner(s) or 4,618.75% in the last quarter. Average portfolio weight of all funds dedicated to DKNG is 0.35%, a decrease of 9.64%. Total shares owned by institutions increased in the last three months by 5,792.36% to 315,068K shares. The put/call ratio of DKNG is 1.13, indicating a bearish outlook.

What are Large Shareholders Doing?

ARK Investment Management holds 25,032K shares representing 5.42% ownership of the company. In it’s prior filing, the firm reported owning 24,707K shares, representing an increase of 1.30%. The firm decreased its portfolio allocation in DKNG by 5.24% over the last quarter.

ARKK – ARK Innovation ETF holds 16,501K shares representing 3.57% ownership of the company. In it’s prior filing, the firm reported owning 15,849K shares, representing an increase of 3.95%. The firm decreased its portfolio allocation in DKNG by 1.10% over the last quarter.

Capital Research Global Investors holds 13,995K shares representing 3.03% ownership of the company. In it’s prior filing, the firm reported owning 12,988K shares, representing an increase of 7.19%. The firm decreased its portfolio allocation in DKNG by 25.43% over the last quarter.

Sumitomo Mitsui Trust Holdings holds 13,992K shares representing 3.03% ownership of the company. In it’s prior filing, the firm reported owning 13,193K shares, representing an increase of 5.71%. The firm decreased its portfolio allocation in DKNG by 23.83% over the last quarter.

Nikko Asset Management Americas holds 13,992K shares representing 3.03% ownership of the company. In it’s prior filing, the firm reported owning 13,193K shares, representing an increase of 5.71%. The firm decreased its portfolio allocation in DKNG by 99.91% over the last quarter.

DraftKings Background Information
(This description is provided by the company.)

DraftKings is an American daily fantasy sports contest and sports betting company. The company allows users to enter daily and weekly fantasy sports–related contests and win money based on individual player performances in five major American sports (MLB, the NHL, the NFL, the NBA and the PGA), Premier League and UEFA Champions League football, NASCAR auto racing, Canadian Football League, the XFL, mixed martial arts (MMA), Tennis, All Elite Wrestling (AEW), and WWE.

This article originally appeared on Fintel