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DraftKings Poised To Rally Into The Weekend: Here Are The Signals

DraftKings Inc DKNG is scheduled to report its second-quarter results before the bell on Friday.

On CNBC’s “Options Action,” Michael Khouw of Optimize Advisors said that DraftKings traded more than 2 times its average daily put volume on Tuesday. The options market is implying a move of around 10% by the end of the week, which is in-line with how much the stock has moved after its previous eight reported quarters, he added.

Check out other stocks making moves in the premarket.

There were buyers of 3,299 of the August 5 weekly 16.5-calls at an average price of 45 cents per contract, Khouw mentioned. Traders expect shares of DraftKings to rally into the weekend, he added.

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DKNG Price Action: Shares of DraftKings gained 8.93% to settle at $15.37 on Tuesday.

 

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