Quantcha now offering unlimited commission-free options trading. Quantchabot has detected a promising Bull Put Spread trade opportunity for DRAFTKINGS INC. CLASS A COMMON STOCK (DKNG) for the 19-Feb-2021 expiration period. You can analyze the opportunity in depth over at the Quantcha Options Search Engine. DKNG was recently trading at $64.05 and has an implied volatility of 61.49% for this period. Based on an analysis of the options available for DKNG expiring on 19-Feb-2021, there is a 34.14% likelihood that the underlying will close within the analyzed range of $64.05-$72.33 at expiration. In this scenario, the average linear return for the trade would be 109.54%. 52 week high: DRAFTKINGS INC. CLASS A COMMON STOCK recently reached a new 52-week high at $64.51. DKNG had traded in the range $10.60-$64.19 over the past year. Trade approach: Reaching a new 52-week high is a 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 $64.05 on 19-Feb-2021. 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 $63.92 on 19-Feb-2021. Based on our risk-neutral analysis, there is a 50.68% 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.