Secret's Out: Insiders Are Loading Up on DraftKings - Here's What They're Betting On

High-rolling investors, known colloquially as "market whales" for their significant financial influence, have made some moves that could be indicative of a major shift in the market. Recent activity in DraftKings (NASDAQ:DKNG) options has caught the eye of retail traders, and it's essential to take a closer look at what this could mean for the company.

Through Benzinga's monitoring of publicly available options data, it has become clear that major traders are taking a stand on DraftKings. While we may not know the identities of these high-rolling investors, their significant moves often signal that someone has access to privileged information.

As it stands, today's data indicates that there have been 12 notable options trades for DraftKings, a clear departure from the norm. The sentiment among these major traders is split, with a bullish stance accounting for 58% of the trades, while bearish sentiment makes up the remaining 41%. Delving deeper into the specifics of these trades reveals an interesting trend.

Among the trades identified, there was one put for a total value of $34,485 and 11 calls, amounting to $637,438. At first glance, this seems to indicate that the bulls are firmly in control, but a closer analysis of the volume and open interest in these contracts tells a more nuanced story.

Over the past quarter, the big players have been focusing on a price window from $30.0 to $38.0 for DraftKings. Analyzing the volume and open interest in these contracts can be an insightful way to conduct due diligence on a stock. This data can help track the liquidity and interest for DraftKings's options for a given strike price.

Essentially, understanding the volume and open interest in options contracts allows traders to gauge the level of interest and activity in a particular stock or contract. This information can be used to make more informed investment decisions, as it provides valuable insights into the market sentiment and the potential for price movement.

In this case, the fact that major traders are focusing on the $30.0 to $38.0 price window for DraftKings suggests that they are anticipating a significant movement in this range. Whether this is an indication of an impending breakout or a potential correction remains to be seen.

Regardless of the outcome, one thing is clear: the market whales are placing their bets on DraftKings. With this level of activity and interest, it's likely that we will see some significant movement in the coming days or weeks. As always, it's essential for retail traders to stay on top of these developments and be prepared to adapt to changing market conditions.

By keeping a close eye on the market and staying informed about the activities of major traders, retail investors can increase their chances of making successful trades. As the situation unfolds, it will be intriguing to see how DraftKings performs and whether the market whales' bets pay off in the end.