Deep-pocketed investors have adopted a bullish approach towards Devon Energy DVN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DVN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Devon Energy. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 62% leaning bullish and 37% bearish. Among these notable options, 2 are puts, totaling $134,090, and 6 are calls, amounting to $176,258.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $37.5 to $50.0 for Devon Energy over the recent three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Devon Energy's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Devon Energy's whale activity within a strike price range from $37.5 to $50.0 in the last 30 days.
Devon Energy Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DVN | PUT | SWEEP | BULLISH | 01/17/25 | $45.00 | $100.8K | 8.1K | 99 |
| DVN | CALL | TRADE | BEARISH | 04/19/24 | $37.50 | $36.0K | 119 | 50 |
| DVN | PUT | SWEEP | BULLISH | 05/17/24 | $40.00 | $33.2K | 1.7K | 481 |
| DVN | CALL | TRADE | BEARISH | 01/16/26 | $50.00 | $32.7K | 1.8K | 3 |
| DVN | CALL | SWEEP | BEARISH | 03/01/24 | $44.50 | $28.6K | 2.9K | 1.3K |
About Devon Energy
Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base is spread throughout onshore North America and includes exposure to the Delaware, STACK, Eagle Ford, Powder River Basin, and Bakken plays. At year-end 2022, Devon's proved reserves totaled 1.8 billion barrels of oil equivalent, and net production that year was 611 thousand boe/d, of which oil and natural gas liquids made up 73% of production, with natural gas accounting for the remainder.
In light of the recent options history for Devon Energy, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of Devon Energy
- With a volume of 2,529,295, the price of DVN is down -0.16% at $44.25.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 68 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Devon Energy, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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