Investors with significant funds have taken a bullish position in Devon Energy DVN, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in DVN usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 14 options transactions for Devon Energy. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 42% being bullish and 42% bearish. Of all the options we discovered, 13 are puts, valued at $6,851,285, and there was a single call, worth $45,091.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $25.0 to $47.5 for Devon Energy over the recent three months.
Volume & Open Interest Trends
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 $25.0 to $47.5 over the preceding 30 days.
Devon Energy Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DVN | PUT | TRADE | BULLISH | 01/16/26 | $14.3 | $10.35 | $11.9 | $42.50 | $6.2M | 2.4K | 5.2K |
| DVN | PUT | TRADE | BEARISH | 08/15/25 | $1.22 | $1.09 | $1.21 | $25.00 | $193.6K | 75 | 1.6K |
| DVN | PUT | TRADE | NEUTRAL | 01/17/25 | $8.85 | $8.75 | $8.8 | $40.00 | $58.9K | 4.3K | 75 |
| DVN | PUT | SWEEP | BULLISH | 06/20/25 | $5.5 | $5.2 | $5.2 | $35.00 | $56.6K | 8.4K | 988 |
| DVN | PUT | SWEEP | BEARISH | 09/19/25 | $4.5 | $4.4 | $4.5 | $32.50 | $51.3K | 1.4K | 1 |
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.
Where Is Devon Energy Standing Right Now?
- With a volume of 2,702,144, the price of DVN is down -0.14% at $31.2.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 61 days.
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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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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