MomentumOptions.com Profit Alert (DKNG) for 4/27/2023

2:20pm (EST)

We have a Profit Alert for DKNG as shares have rebounded and are back above $21. We are still hoping to send out a New Trade today but we could wait until tomorrow as we want to see how the final hour unfolds.

Profit Alert!

DraftKings (DKNG, $21.01, up $0.60)

DKNG May 20 puts (DKNG230519P00020000, $1.00, down $0.20)

Entry Price: $0.80 (4/21/2023)
Exit Target: $1.60
Return: 25%
Stop Target: $1 (Stop Limit)

Action: The Stop Limit at $1 has tripped with the low hitting 97 cents today. This is our third profitable trade in DKNG this year and follows previous gains of 119% and 50%. We will keep shares on our Watch List with earnings due out next week.

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