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 17 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 41% leaning bullish and 47% bearish. Among these notable options, 9 are puts, totaling $1,291,495, and 8 are calls, amounting to $361,816.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $30.0 to $47.5 for Devon Energy over the recent three months.
Insights into Volume & Open Interest
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 $30.0 to $47.5 in the last 30 days.
Devon Energy Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DVN | PUT | TRADE | BULLISH | 01/15/27 | $8.4 | $6.35 | $6.5 | $37.50 | $487.5K | 113 | 750 |
| DVN | PUT | SWEEP | BEARISH | 04/17/25 | $7.3 | $7.2 | $7.3 | $45.00 | $218.2K | 791 | 320 |
| DVN | PUT | TRADE | BULLISH | 06/20/25 | $4.85 | $4.6 | $4.7 | $40.00 | $166.8K | 4.3K | 545 |
| DVN | PUT | SWEEP | BEARISH | 06/20/25 | $6.1 | $6.0 | $6.1 | $42.50 | $162.8K | 7.5K | 268 |
| DVN | PUT | TRADE | BULLISH | 06/20/25 | $4.75 | $4.65 | $4.65 | $40.00 | $88.3K | 4.3K | 190 |
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.
After a thorough review of the options trading surrounding Devon Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Where Is Devon Energy Standing Right Now?
- Currently trading with a volume of 4,525,218, the DVN's price is up by 2.39%, now at $39.23.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 1 days.
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.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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