Profit From the Funnest Sports Sector
You’ve probably seen all the headlines about Draftkings Inc (DKNG).
The industry-leading company made headlines last week when they bid $22 billion to acquire Entain.
But after that, the stock started slipping.
Of course, we can make money no matter which way DKNG moves.
That’s what’s so great about trading options.
DKNG may be experiencing a pullback but I don’t expect it to last long.
Not to mention, Cathie Wood’s financial firm purchased 620,300 shares.
When institutional investors move into a stock, we tag along for the profits.
It’s no surprise why they’re all eyeing this stock.
DraftKings is an American fantasy sports operator and it’s football season.
The company was founded in 2012 and is headquartered in Massachusetts.
They’ve proven that their brand can lead the industry for years. Not to mention, they’ve begun looking to acquire other companies, a sure sign that they have huge cash reserves and the right mindset for growth.
They currently have 1.5 million paying customers per month and the stock is doing well also, with a market cap of $20.64 billion.
How We Played DKNG
I recommended DKNG to the 1450 Club last week.
We officially closed this trade for a 14% gain.
But some people shared that they made even more.
Just look at what one of our members shared…
There’s plenty more opportunities like this to play and you can get them all inside the 1450 Club – click here for more information.
Trading Tip of the Week
When trading options, the volume of the option is important.
But traders also need to look at the stock’s volume as well.
Remember… 1,000 options contracts control 100,000 shares of stock.
It’s much better to control 100,000 shares of a stock that trades 500,000 shares per day… than it is compared to a stock that trades 50,000,000.
That’s because the order would control more of the daily stock volume.
That’s all for now.
Founder, Project 303