Recommendation: NO
Current Price: $26.62
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 | 24.0 | 0.62 | 26.62 | 5 (2026-02-13) | 76.81% | 2.58% | 2.69x |
| DKNG | 26.0 | 1.48 | 26.62 | 10 (2026-02-20) | 58.91% | 5.69% | 2.30x |
| DKNG | 23.0 | 0.42 | 26.62 | 5 (2026-02-13) | 83.43% | 1.83% | 2.14x |
| DKNG | 25.0 | 1.05 | 26.62 | 10 (2026-02-20) | 67.60% | 4.20% | 2.02x |
| DKNG | 24.0 | 0.72 | 26.62 | 10 (2026-02-20) | 75.55% | 3.00% | 1.76x |
| DKNG | 26.0 | 1.81 | 26.62 | 20 (2026-03-06) | 58.72% | 6.96% | 1.66x |
| DKNG | 24.0 | 0.82 | 26.62 | 15 (2026-02-27) | 74.52% | 3.42% | 1.53x |
| DKNG | 25.0 | 1.66 | 26.62 | 30 (2026-03-20) | 65.15% | 6.64% | 1.43x |
| DKNG | 25.0 | 1.32 | 26.62 | 25 (2026-03-13) | 66.26% | 5.28% | 1.41x |
| DKNG | 23.0 | 0.76 | 26.62 | 20 (2026-03-06) | 78.71% | 3.30% | 1.38x |
| DKNG | 22.0 | 0.57 | 26.62 | 20 (2026-03-06) | 83.57% | 2.59% | 1.31x |
| DKNG | 20.0 | 1.65 | 26.62 | 140 (2026-08-21) | 80.59% | 8.25% | 1.12x |