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papz
LSU Fan
Austin, TX
Member since Jul 2008
8973 posts

re: How high will Draft Kings stock go? Still a buy at $63?
Who knows. My buy order is sitting at 45 personally. Not sure I’ll get it but I’m willing to wait.


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Jag_Warrior
Virginia Fan
Virginia
Member since May 2015
1848 posts

re: How high will Draft Kings stock go? Still a buy at $63?
quote:

me either I just dumped mine at break even I put a buy order in at 42


Looking to trade off the 42 price or in it for awhile?

BTW: I’ve got much respect for your technical work. I appreciate reading posts that are data driven and not gut feel.


cgrand
New Orleans Pelicans Fan
HAMMOND
Member since Oct 2009
23604 posts

re: How high will Draft Kings stock go? Still a buy at $63?
I want to be long on DKNG I really like it.
virus volatility plus some management issues make it sketchy right now to me.

I might trade it for a while until the NFL playoffs start


Jag_Warrior
Virginia Fan
Virginia
Member since May 2015
1848 posts

re: How high will Draft Kings stock go? Still a buy at $63?
The more I’ve looked into the company’s fundamentals (PE aside), the more I can see it as a longer term hold - especially considering their prospects as we (eventually) return to normalcy.


cgrand
New Orleans Pelicans Fan
HAMMOND
Member since Oct 2009
23604 posts

re: How high will Draft Kings stock go? Still a buy at $63?
agreed
I’m still learning how to make money in both directions so I’ve chosen DKNG to practice with. I’ve held it twice thru a run up and had to bail before a loss both times.

up and down for a while is likely so it should be a good one to test some strategies on


rintintin
Tulane Fan
Life is Life
Member since Nov 2008
15092 posts

re: How high will Draft Kings stock go? Still a buy at $63?
Personally, I like it right here.

It bounced and held right around that $47-48 base, which also happens to be the 50% fib retracement from it's big run-up in early Sept.

If it breaks down further we'll probably see $44 quickly, but I still like it here.



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LSUtoOmaha
LSU Fan
Nashville
Member since Apr 2004
25417 posts

re: How high will Draft Kings stock go? Still a buy at $63?
Like Jag said, I think this is a great name to sell puts on


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thatguy777
LSU Fan
br
Member since Feb 2007
2073 posts

re: How high will Draft Kings stock go? Still a buy at $63?
DKNG and PENN are both best in class names. I’ve started to go short puts on a weekly basis. Don’t mind having either put to me. I would say both are great long term holds


PillPusher
New Orleans Pelicans Fan
Gulf Coast
Member since Oct 2009
3641 posts

re: How high will Draft Kings stock go? Still a buy at $63?
Delta 30s or what?


thatguy777
LSU Fan
br
Member since Feb 2007
2073 posts

re: How high will Draft Kings stock go? Still a buy at $63?
I look at that but honestly more focused on the trend and moving averages 8,13,21,34,55 and so on.


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Member since 2001
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Jag_Warrior
Virginia Fan
Virginia
Member since May 2015
1848 posts

re: How high will Draft Kings stock go? Still a buy at $63?
When selling puts on stocks you wouldn’t mind owning (at least short to mid term), combining technicals with the deltas is a good way to go.


PillPusher
New Orleans Pelicans Fan
Gulf Coast
Member since Oct 2009
3641 posts

re: How high will Draft Kings stock go? Still a buy at $63?
So I’ve really only done calls and covered calls on stocks I already own. Never sold a put. Fairly new to options you’d say. I under stand what selling a put means and all that. When you sell a put on a stock you’d like to own are you doing it with a 50/50 kind of outlook on owning the stock? I guess I mean how do you balance the premium you want to receive and the expiry with where you’d realistically like to own the stock? Are you looking at a level of support and selling a put slightly above that? Or below that? Or what?


thatguy777
LSU Fan
br
Member since Feb 2007
2073 posts

re: How high will Draft Kings stock go? Still a buy at $63?
Usually go a bit lower than level of support. But it all depends on the timeframe of the option and make sure to match that with a chart that coincides. So if you’re selling a put months out look at daily and weekly even. Shorter timeframe look at 4 hr and under. Personally I don’t trade by selling puts. More of a stock I don’t mind owning and collecting premium on the way. I more trade with defined risk directional moves.

You have to determine your risk tolerance. If you love the stock then maybe go closer strike to current pps. That is a decision you have to make. Personally when I sell puts I am prepared for them to get put to me

Jag is the expert here on selling options. He seems to have it down pretty good. I’m a net buyer
This post was edited on 10/10 at 8:31 pm


Jag_Warrior
Virginia Fan
Virginia
Member since May 2015
1848 posts

re: How high will Draft Kings stock go? Still a buy at $63?
quote:

Usually go a bit lower than level of support.


Same here. And again, it depends on whether I’m content to own it. Owning stocks chews up a lot of capital or margin. So I try to restrict stock based activities to my investment, not trading account. But whenever you sell naked puts, there’s always some chance that you’ll have to take the stock on. So unless I really want the stock at a specific price, most naked puts never exceed 20 delta.


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Jag_Warrior
Virginia Fan
Virginia
Member since May 2015
1848 posts

re: How high will Draft Kings stock go? Still a buy at $63?
quote:

More of a stock I don’t mind owning and collecting premium on the way.


By the look of the price action on DKNG today (all week, really), this seems to describe me pretty well... unless something positive happens by tomorrow at 4:00PM.

I'm good with it though. Don't want to see a 30 handle any time soon. But otherwise, it's all good.


BuzzSaw 12
Georgia Tech Fan
The ATL
Member since Dec 2010
2389 posts

re: How high will Draft Kings stock go? Still a buy at $63?
Sitting on support here in the 44.50-45 area. 50 day moving avg. and a previous high/low plus fib support. Probably a good place to enter or add if you are a believer in this stock. I added a few shares at 44.95 today.


Tigers4life
LSU Fan
North Carolina
Member since May 2004
1573 posts

re: How high will Draft Kings stock go? Still a buy at $63?
Look out for Oct. 20th. Lock-up expiration. One institutional investor estimates the total at about 95 million shares.


LINK
This post was edited on 10/15 at 4:36 pm


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TDFreak
Florida Fan
Baton Rouge
Member since Dec 2009
3823 posts

re: How high will Draft Kings stock go? Still a buy at $63?
DKNG is on its 50-day SMA at $45. It could bounce from this support point.

ETA: Just saw Buzz Saw’s post. I concur!
This post was edited on 10/15 at 7:38 pm


hiltacular
Georgia Tech Fan
Philadelphia
Member since Jan 2011
16571 posts

re: How high will Draft Kings stock go? Still a buy at $63?
I do think its concerning the stock didn't move at all given the all time high gambling $ numbers that came out of NJ/PA for September.

I think PENN has set itself up as the clear front runner but DKNG does have an advantage in that it'n not associated with Barstool. I just don't see sports leagues/teams aligning themselves with Barstool given all of the issues surrounding the company.


Auburn1968
Auburn Fan
NYC
Member since Mar 2019
2670 posts

re: How high will Draft Kings stock go? Still a buy at $63?
It probably doesn't help that ratings for the NFL and NBA are down so much.


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