A Closer Look at Devon Energy's Options Market Dynamics

Whales with a lot of money to spend have taken a noticeably bearish stance on Devon Energy.

Looking at options history for Devon Energy DVN we detected 9 trades.

If we consider the specifics of each trade, it is accurate to state that 44% of the investors opened trades with bullish expectations and 55% with bearish.

From the overall spotted trades, 5 are puts, for a total amount of $280,290 and 4, calls, for a total amount of $683,196.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $32.5 to $52.5 for Devon Energy during the past quarter.

Volume & Open Interest Trends

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 $52.5 in the last 30 days.

Devon Energy Option Activity Analysis: Last 30 Days

Largest Options Trades Observed:

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.

Having examined the options trading patterns of Devon Energy, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of Devon Energy

• Trading volume stands at 5,669,222, with DVN's price down by -0.34%, positioned at $44.49.
• RSI indicators show the stock to be may be approaching oversold.
• Earnings announcement expected in 83 days.

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.