DKNG Forecast + Trading Strategies


Bullish Case: DraftKings' expansion into new states and increased user activity support potential revenue growth, particularly driven by the rising popularity of sports betting, which may lead to improved market share and profitability.


Bearish Case: Regulatory challenges, particularly increased tax rates in Illinois, combined with fierce competition, could strain margins and hinder growth prospects, potentially harming investor sentiment and stock performance.


Potential Outcomes:

1. Continued state expansion (60% probability).

2. Regulatory headwinds (30% probability).

3. Competitive pressure from new entrants (10% probability).


Trading Oracle: Adopt a bullish stance by initiating a debit spread strategy. Buy DKNG $40 calls and sell $37 calls expiring in 30 days, as implied volatility spikes indicate potential price movement. Aim for a target return on investment as DKNG's market stabilizes amid upcoming earnings reports.


July 25, 2024


DraftKings Forecast

DKNG      DraftKings











Correlated Assets

Assets that tend to move strongly with DKNG



UBER Forecast + Options Trading Strategies   UBER  Uber (0.93)


XPO Forecast + Options Trading Strategies   XPO  XPO Logistics (0.92)


CPRT Forecast + Options Trading Strategies   CPRT  Copart (0.92)


PCAR Forecast + Options Trading Strategies   PCAR  Paccar (0.92)


CYBR Forecast + Options Trading Strategies   CYBR  CyberArk Software (0.92)



Uncorrelated Assets

Assets with little price relationship to DKNG



EQR Forecast + Options Trading Strategies   EQR  Equity Residential Properties (-0.0)


TBT Forecast + Options Trading Strategies   TBT  PowerShares UltraShort Lehman 20+ Yea (-0.0)


NFE Forecast + Options Trading Strategies   NFE  New Fortress Energy (0.0)


NTES Forecast + Options Trading Strategies   NTES  NetEase (0.0)


SMAR Forecast + Options Trading Strategies   SMAR  Smartsheet (-0.0)



Anticorrelated Assets

Assets that tend to move strongly against DKNG



AGL Forecast + Options Trading Strategies   AGL  Agilon Health (-0.87)


SQQQ Forecast + Options Trading Strategies   SQQQ  ProShares UltraPro Short QQQ (-0.88)


SDOW Forecast + Options Trading Strategies   SDOW  ProShares UltraPro Short Dow30 (-0.88)


DXD Forecast + Options Trading Strategies   DXD  ProShares UltraShort Dow30 (-0.88)


BOIL Forecast + Options Trading Strategies   BOIL  ProShares Ultra Bloomberg Natural Gas (-0.9)


DKNG News over Time





Click points to explore news by date. News sentiment ranges from -10 (very negative) to +10 (very positive) where 0 is neutral.






Become a more profitable investor with AI optimized trading strategies






×

Chat with DKNG


 Ask any question about DKNG!