Deep-pocketed investors have adopted a bearish 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 25% leaning bullish and 75% bearish. Among these notable options, 2 are puts, totaling $428,245, and 6 are calls, amounting to $474,112.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $50.0 for Devon Energy during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Devon Energy options trades today is 2529.67 with a total volume of 2,347.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Devon Energy's big money trades within a strike price range of $40.0 to $50.0 over the last 30 days.
Devon Energy 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| 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 | $4.0 | $3.8 | $3.95 | $42.50 | $395.0K | 460 | 0 |
| DVN | CALL | TRADE | BULLISH | 01/16/26 | $11.3 | $11.05 | $11.3 | $40.00 | $226.0K | 1.0K | 111 |
| DVN | CALL | TRADE | BULLISH | 01/16/26 | $11.3 | $11.1 | $11.3 | $40.00 | $125.4K | 1.0K | 0 |
| DVN | CALL | SWEEP | BEARISH | 12/20/24 | $4.1 | $4.0 | $4.0 | $47.50 | $34.8K | 1.0K | 27 |
| DVN | CALL | SWEEP | BEARISH | 07/19/24 | $0.7 | $0.68 | $0.68 | $48.50 | $34.0K | 433 | 1.5K |
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.
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
- Currently trading with a volume of 3,335,688, the DVN's price is up by 0.8%, now at $48.15.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 34 days.
What The Experts Say On Devon Energy
In the last month, 1 experts released ratings on this stock with an average target price of $64.0.
- Reflecting concerns, an analyst from B of A Securities lowers its rating to Buy with a new price target of $64.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Devon Energy options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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