Pulling Premium From DKNG Options Before Earnings

DKNG trades at 34.45 with IV at 45.99 and negative sentiment from recent news.

Here is the put write: SELL -1 DKNG 2 Jan 26 33.0 PUT Contract @1.11 LMT

If stock closes above 33.0 on expiration, keep the premium.

If stock closes below 33.0 on expiration, keep the premium and get assigned 100 shares at 33.0 for a cost basis of 31.89.

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Tiblio Atlas Team

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