Financial giants have made a conspicuous bearish move on Devon Energy. Our analysis of options history for Devon Energy DVN revealed 12 unusual trades.
Delving into the details, we found 33% of traders were bullish, while 58% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $617,786, and 8 were calls, valued at $276,435.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $50.0 for Devon Energy during the past quarter.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $35.0 to $50.0 in the last 30 days.
Devon Energy Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DVN | PUT | SWEEP | BULLISH | 05/16/25 | $9.85 | $9.75 | $9.75 | $50.00 | $284.7K | 0 | 296 |
| DVN | PUT | TRADE | BEARISH | 01/17/25 | $3.15 | $3.05 | $3.15 | $42.50 | $157.5K | 6.4K | 502 |
| DVN | PUT | TRADE | NEUTRAL | 11/15/24 | $2.37 | $2.3 | $2.33 | $42.50 | $104.1K | 759 | 447 |
| DVN | PUT | SWEEP | BULLISH | 12/20/24 | $4.6 | $4.55 | $4.55 | $45.00 | $71.4K | 1.4K | 0 |
| DVN | CALL | TRADE | BEARISH | 01/16/26 | $8.15 | $7.85 | $7.85 | $37.50 | $50.2K | 269 | 65 |
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.
Following our analysis of the options activities associated with Devon Energy, we pivot to a closer look at the company's own performance.
Current Position of Devon Energy
- Trading volume stands at 4,722,358, with DVN's price up by 0.72%, positioned at $41.98.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 27 days.
What Analysts Are Saying About Devon Energy
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $47.4.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Devon Energy, targeting a price of $50. * An analyst from Truist Securities persists with their Buy rating on Devon Energy, maintaining a target price of $49. * An analyst from Barclays persists with their Equal-Weight rating on Devon Energy, maintaining a target price of $46. * In a cautious move, an analyst from Jefferies downgraded its rating to Hold, setting a price target of $45. * An analyst from UBS persists with their Neutral rating on Devon Energy, maintaining a target price of $47.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Devon Energy with Benzinga Pro for real-time alerts.
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