Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Call Spread trade opportunity for DRAFTKINGS INC. CLASS A COMMON STOCK (DKNG) for the 30-Oct-2020 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. DKNG was recently trading at $51.96 and has an implied volatility of 88.91% for this period. Based on an analysis of the options available for DKNG expiring on 30-Oct-2020, there is a 34.13% likelihood that the underlying will close within the analyzed range of $51.97-$70.86 at expiration. In this scenario, the average linear return for the trade would be 66.43%. Big 7.78% Change: After closing the last trading session at $48.21, DRAFTKINGS INC. CLASS A COMMON STOCK opened today at $49.91 and has reached a high of $52.87. Trade approach: A movement as big as 7.78% is a significantly bullish indicator, so this trade is designed to be profitable if DKNG maintains its current direction and does not revert back to pricing on the bearish side of $51.96 on 30-Oct-2020. If possible, the trade has been padded such that slight movement against the trade would still return a profit. Upside potential: Using this bullish strategy, the trade would be profitable if DRAFTKINGS INC. CLASS A COMMON STOCK closes at or above $51.20 on 30-Oct-2020. Based on our risk-neutral analysis, there is a 51.92% likelihood of this return. Downside risk: As with any options trade, there is a substantial downside risk where you may lose most or all of your investment. To analyze this trade in depth, please visit the Quantcha Options Search Engine.