Analyst: Gamble on DraftKings Stock Now

DKNG is up more than 110% in 2023

Deputy Editor
May 22, 2023 at 9:33 AM
facebook X logo linkedin

The shares of DraftKings Inc (NASDAQ:DKNG) are 3.8% higher to trade at $25.02 this morning, after UBS upgraded the sports gambling company to "buy" from "neutral." The analyst in coverage also raised its DKNG price target to $30, citing the potential growth the sports betting stock could see via expansion into new markets.

DraftKings stock sports an impressive 111.7% year-to-date lead. Earlier this month, a post-earnings bull gap helped the shares to their highest level since January 2022. DKNG has come a long way since breaching $11 on Dec. 28. 

A shift in the options pits may keep the wind at the equity's back. This is per DKNG's Schaeffer's put/call open interest ratio (SOIR), which stands in the 77th percentile of the past 12 months. In other words, short-term traders have rarely been more put-biased.  

DraftKings options can be had for a discount at the moment. The stock's Schaeffer's Volatility Index (SVI) of 49% sits higher than just 3% of readings from the past year. This suggests options players are pricing in relatively low volatility expectations right now. 


Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on calls
238.5% GAIN on Oracle calls



Rainmaker Ads CGI