Draft Kings mightbe a good growth stock down the road, but for the short term this stock will likely tank as the overall market declines.
This stock is trading higher during this bear-market-rally than it did at the market peak.
The market peak was before all professional sports were cancelled.
Buying puts offers high reward:risk
This stock is trading higher during this bear-market-rally than it did at the market peak.
The market peak was before all professional sports were cancelled.
Buying puts offers high reward:risk
Note
Here's an article going into how DraftKings is overvalued relative to their competition. legalsportsreport.com/40381/draftkings-worth-6-billion-nasdaq/Trade active
Well this thing just keeps going up for no good reason. I opened up a straddle to hedge against continued irrational exuberance. Maybe I'll get really lucky and make money in both directions.Trade closed manually
My Straddle to hedge upside movement hit my upside limit order earlier today. Puts are likely to expire worthless, so this trade was a wash.
I'll look to open a new position soon.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.