Spotlight on Devon Energy: Analyzing the Surge in Options Activity

Financial giants have made a conspicuous bearish move on Devon Energy. Our analysis of options history for Devon Energy DVN revealed 13 unusual trades.

Delving into the details, we found 15% of traders were bullish, while 84% showed bearish tendencies. Out of all the trades we spotted, 4 were puts, with a value of $201,332, and 9 were calls, valued at $531,114.

Predicted Price Range

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $50.0 for Devon Energy over the last 3 months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Devon Energy options trades today is 2200.56 with a total volume of 3,102.00.

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

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.

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.

Present Market Standing of Devon Energy

• With a volume of 2,430,862, the price of DVN is down -0.52% at $42.73.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 22 days.

Professional Analyst Ratings for Devon Energy

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $48.8.

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. * Maintaining their stance, an analyst from Mizuho continues to hold a Outperform rating for Devon Energy, targeting a price of $51. * Consistent in their evaluation, an analyst from Barclays keeps a Equal-Weight rating on Devon Energy with a target price of $46. * An analyst from Wells Fargo persists with their Overweight rating on Devon Energy, maintaining a target price of $50. * Maintaining their stance, an analyst from UBS continues to hold a Neutral rating for Devon Energy, targeting a price of $47. * Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Devon Energy, targeting a price of $50.

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.