Whales with a lot of money to spend have taken a noticeably bullish stance on Devon Energy.
Looking at options history for Devon Energy DVN we detected 13 trades.
If we consider the specifics of each trade, it is accurate to state that 61% of the investors opened trades with bullish expectations and 38% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $700,293 and 3, calls, for a total amount of $83,138.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $32.5 to $70.0 for Devon Energy over the recent three months.
Volume & Open Interest Development
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 $32.5 to $70.0 in the last 30 days.
Devon Energy 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DVN | PUT | TRADE | BEARISH | 01/16/26 | $2.95 | $0.0 | $1.76 | $32.50 | $176.0K | 1.3K | 0 |
| DVN | PUT | SWEEP | BULLISH | 09/20/24 | $3.55 | $3.45 | $3.5 | $47.50 | $136.5K | 1.4K | 10 |
| DVN | PUT | SWEEP | BULLISH | 09/20/24 | $3.6 | $3.55 | $3.55 | $47.50 | $71.0K | 1.4K | 510 |
| DVN | PUT | SWEEP | BULLISH | 10/18/24 | $5.15 | $5.05 | $5.05 | $50.00 | $69.1K | 1.2K | 9 |
| DVN | PUT | SWEEP | BULLISH | 09/20/24 | $8.0 | $7.15 | $7.35 | $52.50 | $46.3K | 1.2K | 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.
Present Market Standing of Devon Energy
- Currently trading with a volume of 5,482,556, the DVN's price is up by 0.44%, now at $45.76.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 43 days.
Professional Analyst Ratings for Devon Energy
In the last month, 1 experts released ratings on this stock with an average target price of $64.0.
- An analyst from B of A Securities downgraded its action to Buy with a price target of $64.
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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Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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