My trade idea for Monday is in Draftkings (Ticker: DKNG).
That got me thinking of Dave Portnoy of Barstool Sports, which is owned by Penn National Gaming (Ticker: PENN).
Portnoy was in the news this week and I considered writing about the controversy currently surrounding hime, but thought I better not.
I will say, though, if there wasn’t any claim of wrongdoing what is the purpose of the recent piece written by Business Insider?
I thought we were in an age of “anything goes.”
Instead of a deep-dive on Portnoy, I’d like to introduce you to two of my most favorite things.
When I like to splurge, which is more often than I should, my first go-to is french fries.
I love fries. The skinny but potatoey, not-too-crispy ones.
I like beer, too — the stronger-tasting hoppy beers. Love heffeweizens and IPA’s.
I can’t drink as many as I used to simply because they are just too filling.
So, generally, just one, sometimes two.
One of my favorite beers is a gluten-free IPA called Glutenberg.
Served in a frosty mug with a lime wedge … yummm.
At 320 calories per sixteen ounce can, it is definitely a splurge.
And anytime I have a Glutenberg, I HAVE TO HAVE …
Of course they HAVE to be salt and ginegar.
Super crunchy with that sour vinegary taste that makes your mouth water.
Hey! They are organic.
Have I made you thirsty yet?
My idea in DKNG will quench your thirst for a trade …
On Draft (Kings)
Check out the doji in Draftkings (Ticker: DKNG):
DKNG has traded down from $64.49 on Sept. 10, closing at $40.48 on Friday.
Looking at the chart, I believe DKNG will trade back to $48.
I like buying the near term Nov. 19 calls that only have a week to go.
- If DKNG opens and trades higher on Monday, I will pay up to $1.06 for the Nov. 19 41-strike calls.
- I will bail on these if they trade down to $.75 and take my money off the table over $2.
- On Friday, I bought the Freeport McMoran (Ticker: FCX) Nov.19 41-strike calls. I paid $1.18 and they are up slightly.
- I am still long the Coca Cola (Ticker: KO) Nov. 19 56.50-strike puts and still think KO is heading lower to $54.70.
- I am still long the Nov. 19 30/50 call spread in Greenidge Generation (Ticker: GREE) and I think it still has the capacity to trade higher.
You may want to wait until this afternoon for that beer and chips.
But, hey, anything goes!
Thanks for Reading …. See You Next Tuesday!