Financial giants have made a conspicuous bullish move on Devon Energy. Our analysis of options history for Devon Energy DVN revealed 9 unusual trades.
Delving into the details, we found 55% of traders were bullish, while 44% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $345,320, and 6 were calls, valued at $331,882.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $22.5 and $56.0 for Devon Energy, spanning the last three months.
Volume & Open Interest Development
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Devon Energy's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Devon Energy's substantial trades, within a strike price spectrum from $22.5 to $56.0 over the preceding 30 days.
Devon Energy Option Volume And Open Interest Over Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DVN | PUT | TRADE | BEARISH | 01/17/25 | $1.58 | $1.27 | $1.51 | $40.00 | $226.5K | 9.3K | 2 |
| DVN | CALL | TRADE | BULLISH | 06/21/24 | $23.65 | $23.4 | $23.55 | $22.50 | $117.7K | 25 | 20 |
| DVN | CALL | TRADE | BULLISH | 09/20/24 | $1.73 | $1.65 | $1.7 | $47.50 | $76.5K | 14.1K | 490 |
| DVN | PUT | TRADE | BEARISH | 06/14/24 | $4.5 | $4.35 | $4.45 | $50.00 | $66.7K | 341 | 8 |
| DVN | PUT | SWEEP | BULLISH | 06/21/24 | $10.65 | $10.4 | $10.44 | $56.00 | $52.0K | 10 | 0 |
About Devon Energy
Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.
After a thorough review of the options trading surrounding Devon Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Devon Energy's Current Market Status
- With a trading volume of 4,180,465, the price of DVN is down by -1.96%, reaching $45.93.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 47 days from now.
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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