MomentumOptions.com Profit Alert (DKNG) for 1/4/2023

12:20pm (EST)

I have another Profit Alert on our first triple-digit winner for 2023 so let’s go check the tape.

Profit Alert!

DraftKings (DKNG, $11.70, up $0.65)

DKNG January 12.50 puts (DKNG230120P00012500, $1.25, down $0.40)

Entry Price: $0.70 (12/6/2022)
Exit Target: $2.10 (closed 1/3rd at $1.85 on 12/27/2022, 1/3rd at $1.40 on 12/29/2022)
Return: 119%
Stop Target: $1.35 (Stop Limit)

Action: The Stop Limit at $1.35 on the remaining third of the position has tripped today. The average closing price is at $1.53.

Although I’m disappointed we couldn’t squeeze even more profits out of this trade, I think we did extremely well managing the position after taking partial profits on the lower lows while setting Stop Limits.

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