If DraftKings (DKNG) continues to trade in a range, it could be a great opportunity to collect cash with CSPs and Covered Calls.
CSPs, Cash Secured Puts, can be sold at the bottom of the range which allows you to collect premium against the commitment to buy 100 shares at the strike price selected.
I like the $35 strike price for DKNG and going out 2-3 weeks for expiration.
If you get assigned shares, it will open up opportunities for selling covered calls and collecting more cash.
Have a great day trading!
-Nate
This service is for general informational and educational purposes only and is not intended to constitute legal, tax, accounting or investment advice. These are my opinions and observations only. I am not a financial advisor.
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