How I Am Trading DKNG Ahead of Earnings

DKNG broke above resistance and is setting up for another move higher.

I hope you are having an excellent weekend, enjoying some down time, and preparing for the week of trading ahead.

We have a lot of popular names reporting earnings next week which should drive some volatility and no doubt create opportunities.

Instead of trading the earnings reporting date, I prefer to trade the weeks leading up to these events which brought my attention to DKNG.

With arguably the biggest day in betting taking place in one week, earnings for DKNG coming up on February 15th, and a big move through resistance, it is time to get back in and trade one of my favorites.

And if you already own DKNG, the options expiring February 16th have elevated premiums which means more cash for selling covered calls!

A really nice breakout trade is setting up, and there is action for the bears to consider as well. A little something for everyone.

Let’s get to the trade ideas!