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DraftKings Stock: A Promising Upside Backed by Charts and Options Activity

Home » DraftKings Stock: A Promising Upside Backed by Charts and Options Activity

DraftKings Inc. (NASDAQ: DKNG), a digital sports entertainment and gaming company, has been showing promising signs of growth as per recent stock charts and options activity. The company’s stock has been on a steady rise, with a significant increase in volume, indicating a strong interest from investors.

Strong Performance and Future Outlook

As of July 7, 2023, DraftKings’ stock price stood at $26.65, marking a 5.63% increase. The company’s performance has been backed by a robust business model that capitalizes on the growing online gaming and sports betting industry. The company’s recent partnership with the NFL has further bolstered its market position, paving the way for future growth.

Options Activity Indicating Positive Sentiment

The options market has also been buzzing with activity around DraftKings. The total volume of call options, which are bets that the stock price will rise, significantly outnumbered the put options, bets that the price will fall. Specifically, the call volume total was 15,847 compared to a put volume total of 7,530. This suggests that traders are anticipating further upside for the stock.

Moreover, the implied volatility, a measure of the market’s forecast of a likely movement in a security’s price, stood at 16.66%. This is relatively low, indicating that the market expects the stock price to remain within its current trading range.


While the stock market is inherently unpredictable, the current trends in DraftKings’ stock charts and options activity suggest a positive outlook for the company. Investors and traders seem to be betting on the company’s continued growth, backed by its strong business model and strategic partnerships. However, as always, potential investors should conduct thorough research and consider their risk tolerance before making investment decisions.

Questions to Ponder

  1. How will DraftKings’ partnership with the NFL influence its stock performance in the long run?
  2. What impact could changes in online gambling regulations have on DraftKings’ stock price?
  3. How does the options activity around DraftKings compare to other companies in the same industry?