By Dan Darrow
November 08, 2022
Intraday Update: DKNG
DKNG is having a heck of a day. The stock is rebounding sharply as election day begins, and now it is pushing into 13 and the top of the just-adjusted Nov11 $12 - $13 call spread. The risk/reward has changed for the trade after this bounce, so the plan will be to close the call spread portion of the strangle and leave the Nov11 $10.50 put open to see if the stock is knocked lower on a failure of Prop 27 (the expected outcome of the measure).
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