DKNG will report numbers before the open tomorrow, and the stock is red in afternoon action today. It has been an extremely strong week for DKNG, and the Nov18 call spread has now been rolled up twice ahead of the report, but because the options are longer-term and something worth sticking with, I think it makes sense to open a low debit hedge for the print. An Aug19 15 - $12.50 put spread will act as a two-week hedge in the event the stock retraces after numbers. At $.45 - $.55, the hedge will only add small premium to the position, but will help recover the net debit of the current Nov18 $17.50 - $22.50 call spread if the stock drops sharply. If you would prefer to have less risk (or no risk) into earnings, now would be a good time to size down or close the current trade.