MomentumOptions.com Profit Alert (DKNG) for 12/22/2022

10:50am (EST)

I have a Profit Alert today as DKNG has dipped below $11. We are only closing a third of the while raising the Stop Limit to further protect profits.

Profit Alert!

DraftKings (DKNG, $11.15, down $0.38)

DKNG January 12.50 puts (DKNG230120P00012500, $1.85, up $0.40)

Entry Price: $0.70 (12/6/2022)
Exit Target: $2.10
Return: 164% 
Stop Target: $1.15, raise to $1.20 (1/3rd) and $1.40 (1/3rd) (Stop Limits)

Action: Close one-third of the trade at current levels.

Raise the Stop Limit from $1.15 to $1.20 for another third of the trade and $1.40 on the remaining third to further protect profits.