DraftKings $DKNG Bullish Option Flow Detected

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GuerillaStockTrading has detected bullish option flow in $DKNG stock on August 2, 2022.

Most of the call buying was short-dated August 5 roulette plays.

Make sure to review this lesson on option flow so that you understand the image above.

However, a longer-dated $25 strike for November 18, 2022, traded with a value of around $10K.

Massachusetts lawmakers reach last minute deal on sports betting, NBC reports

On August 1, 2022, less than two weeks after the House Speaker in Massachusetts said lawmakers were “far apart” on the topic of legalizing sports betting in the state, the Sports Betting Conference Committee reached a last-minute agreement on legislation in the state, reported NBC Boston’s Matt Fortin and Kirsten Glavin. According to a tweet from House Speaker Ron Mariano, the legislation would allow for wagering on both professional and collegiate sports in the state. Source: https://www.nbcboston.com/news/local/mass-sports-betting-agreement-reached-to-allow-wagering-on-professional-college-sports/2795126/

📺 Should You BUY DraftKings Stock Before Earnings? 🤔 DKNG Market Analysis 🥬

📈 DraftKings $DKNG Chart

$DKNG stock has been consolidating, and we’ve had a downtrend channel breakout. For fundamental reasons, I question the staying power of the turnaround on the chart. With the economy going into recession, discretionary spending on gambling and gaming will take a severe hit. With the turnaround formation on the chart, $DKNG still has a technically weak downtrend rating.


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