Is DraftKings an Easy-Money Bet for Earnings After the Super Bowl?

It’s Super Bowl and Crush the Open Monday, and I hope everyone is doing well after Sunday’s festivities…

We’re likely going to host another 9 a.m. ET Friday edition of the Crush the Open this week, so be there… You can join our Telegram channel here to be notified before we go live!

We have an exciting week of high-growth, high risk-reward stocks coming up for earnings. We also have the latest Consumer Price Index inflation report coming at 8:30 a.m. ET on Tuesday, which could move markets this week.

Crush the Open

Crush the Open: Feb. 13, 2023

The CPI data is going to matter and if we get a shock number above the expected 6.2% year over year, it could be lights out for the market. 

But if everything does in fact sell off, that could be a great opportunity to pick up some of these upcoming earnings stocks on the cheap before they report.

That said, we covered a couple of different trade ideas in DraftKings Inc. (Nasdaq: DKNG) following the Super Bowl,which of course sees heavy, heavy betting — though, these earnings are for the fiscal quarter ending in December 2022…

This stock fits the bill for 2023 so far — it’s a junk name that had its face ripped off all last year as the market sank. 

People want to own it but they’re scared because they’ve gotten burned by it in the past. So it has the potential for monster moves higher on good news. The big problem, though, is that the biggest moves we’ve seen have been to the downside… So let’s break down what a trade could look like in DraftKings…

DKNG is up 40% year to date and reports Thursday after the close, and it has the potential to make monster moves to either the up or downsides. Last quarter, it tanked almost 28%, and the implied one-day move for this quarter is plus or minus 12.15%.

A 30% move like last time, this time to the upside, would make it a $21 stock, and I imagine there would be sellers taking profits around that level.

Looking at the weekly $16 strike calls, you could do quite well with this — if the trade works out in your favor.* 

This is a home run-type trade, meaning it’s likely to go to $0 if you’re wrong about the direction. If you’re right, BANG… to the moon! 

You could also give yourself more time by going a week further out for just 10% more, which feels cheap to me. 

Check out Crush the Open at the top of this post and let’s get to this week’s actionable information! We covered DraftKings, Inc. (NYSE: AI), Applied Materials Inc. (Nasdaq: AMAT) and more!

Are there any topics you’d like to see me cover or questions you’d like answered? Send me an email at with your trading questions and I may cover them in a future video. You can also join my free Telegram channel, where I share market insights real time throughout the week, articles, videos and more!

*This is for informational and educational purposes only. There is an inherent risk in trading, so trade at your own risk. 

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