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).

Open Positions

* The following Open Positions pertain to the Options In Play trade ideas from this and previous editions. Disclosure of the Trader Co-Author’s actual portfolio holdings, as of the date of each publication, is made below under "Trader Author Portfolio Holdings.".

Trader Author Portfolio Holdings

**As of the date and time of publication