Stock / Symbol: Draft Kings / DKNG
Strategy: Calendar Call Spread
Trade entry date / price: 03 Nov 2020 / $39.30
Trade exit date / price: 18 Nov 2020 / $47.48
Recap: Our exit order on the DKNG calendar was filled, yesterday, at 6:40am PST. A 27% return in just over 2 weeks!
Position Details:
Long 1 DKNG 15 Oct21 50 call
Short 1 DKNG 18 Dec20 50 call
In for a net debit of $7.35 per contract and out at net credit of $9.35 per contract.
Analysis:
Max Risk: $755 / My Risk: $735
Max Reward: $650 or 85% with DKNG at $50 at market close on Dec 18th
Profit Range: DKNG between $37.50 and $79 on Dec 18th
Commission (round trip): $2.60
Suggested Upside Stop at: $56
Suggested Downside Stop at: $34
Realized Profit / Loss: $200 or 27% (pre commission)
