Market Whales and Their Recent Bets on DVN Options

Investors with a lot of money to spend have taken a bullish stance on Devon Energy DVN.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DVN, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 10 uncommon options trades for Devon Energy.

This isn't normal.

The overall sentiment of these big-money traders is split between 50% bullish and 30%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $214,767, and 5 are calls, for a total amount of $151,467.

Expected Price Movements

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $35.0 to $55.0 for Devon Energy over the recent three months.

Analyzing Volume & Open Interest

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 $35.0 to $55.0 over the preceding 30 days.

Devon Energy 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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

Present Market Standing of Devon Energy

• Currently trading with a volume of 3,785,936, the DVN's price is down by -0.12%, now at $41.07.
• RSI readings suggest the stock is currently may be approaching oversold.
• Anticipated earnings release is in 42 days.

Professional Analyst Ratings for Devon Energy

5 market experts have recently issued ratings for this stock, with a consensus target price of $53.8.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Morgan Stanley persists with their Overweight rating on Devon Energy, maintaining a target price of $51. * An analyst from Susquehanna has decided to maintain their Positive rating on Devon Energy, which currently sits at a price target of $63. * An analyst from UBS has decided to maintain their Neutral rating on Devon Energy, which currently sits at a price target of $47. * An analyst from JP Morgan persists with their Overweight rating on Devon Energy, maintaining a target price of $51. * In a cautious move, an analyst from RBC Capital downgraded its rating to Sector Perform, setting a price target of $57.

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.