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Laura McCandless
Tue, June 9, 2026 astatine 12:01 PM CDT 1 min read
Shares of DraftKings Inc (NASDAQ:DKNG) are up 7.6% astatine $26.67, aft the institution reported beardown May prediction markets growth, with annualized user trading measurement rising 24% to $1.3 cardinal and full measurement climbing 34% to $3.1 billion. The update highlights expanding adoption of its nationwide prediction markets platform.
Options bulls are chiming successful aft the news, with 50,000 calls exchanged truthful acold today, triple the magnitude typically seen astatine this point, portion conscionable 12,000 puts person crossed the tape. The play 6/12 27-strike telephone is the astir fashionable contract, with caller positions being sold-to-open.
These traders are successful luck, arsenic options look attractively priced astatine the moment. DKNG's Schaeffer's Volatility Index (SVI) of 57% sits successful the 29th percentile of its yearly range, portion its Schaeffer's Volatility Scorecard (SVS) of 85 retired of 100 indicates the banal has consistently exceeded options traders' volatility expectations during the past year.
Meanwhile, the fig of shares sold abbreviated accrued 7.6% implicit the past 2 reporting periods to 38.8 million, representing 8.1% of DraftKings' disposable float. It would instrumentality shorts 3 days to bargain backmost their bearish bets, astatine the stock's mean gait of trading.
On the charts, DKNG has been dilatory moving higher since its late-March three-year lows. With today's surge, the shares look to beryllium breaking retired and supra the overhead 120-day moving mean for the archetypal clip since September. For 2026, the equity is down 22.7%.
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