MomentumOptions.com Profit Alert (DKNG) for 2/27/2023

11:05am (EST)

I have a Profit Alert for DraftKings (DKNG) as shares have rebounded this morning.

Profit Alert!

DraftKings (DKNG, $18.58, up $0.39)

DKNG March 17.50 puts (DKNG230317P00017500, $0.60, down $0.15)

Entry Price: $0.40 (2/21/2023)
Exit Target: $1.20
Return: 50%
Stop Target: 60 cents (Stop Limit)

Action: The Stop Limit at 60 cents has tripped with the puts opening at 70 cents and trading to a low of 52 cents. We still made a sweet 50% return and we will be looking to get back into DKNG once weakness returns.

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