Recommendation: NO
Current Price: $24.78
Total Wheels: 3
EditTypically you want to choose options that have a higher than 70% chance of being out of the money, since then you only have a 30% chance of actually acquiring the stock. Beyond that maximumizing the annualized rate of return is a good idea.
Annualized rate of return is computed fairly bullish as (max_return * odds + (1 - odds)) ^ (252 / calendar_days). This assumes that if you accidently acquire the stock you will be able to do something such that effectively get you a 1x return immediately.
| Ticker | Strike | Premium | Ticker Price | Calendar Days To Expiration | Odds Out Of The Money % | Maximum Return % | Annualized Rate Of Return |
|---|---|---|---|---|---|---|---|
| DKNG | 23.0 | 0.23 | 24.78 | 8 (2026-05-22) | 81.44% | 1.00% | 1.29x |
| DKNG | 23.0 | 0.85 | 24.78 | 27 (2026-06-18) | 70.36% | 3.70% | 1.27x |
| DKNG | 22.0 | 0.12 | 24.78 | 8 (2026-05-22) | 89.69% | 0.55% | 1.17x |
| DKNG | 20.5 | 0.22 | 24.78 | 18 (2026-06-05) | 89.46% | 1.07% | 1.14x |
| DKNG | 21.0 | 0.15 | 24.78 | 13 (2026-05-29) | 90.62% | 0.71% | 1.13x |
| DKNG | 20.0 | 0.05 | 24.78 | 8 (2026-05-22) | 96.01% | 0.25% | 1.08x |
| DKNG | 12.5 | 0.12 | 24.78 | 73 (2026-08-21) | 97.19% | 0.96% | 1.03x |