Unpacking the Latest Options Trading Trends in Devon Energy

Whales with a lot of money to spend have taken a noticeably bearish stance on Devon Energy.

Looking at options history for Devon Energy DVN we detected 8 trades.

If we consider the specifics of each trade, it is accurate to state that 25% of the investors opened trades with bullish expectations and 75% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $63,360 and 6, calls, for a total amount of $297,780.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $34.0 to $45.0 for Devon Energy during the past quarter.

Analyzing Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Devon Energy options trades today is 1997.88 with a total volume of 1,272.00.

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 $34.0 to $45.0 over the last 30 days.

Devon Energy Option Activity Analysis: Last 30 Days

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 2024, Devon reported net proved reserves of 2.2 billion barrels of oil equivalent. Net production averaged roughly 848,000 barrels of oil equivalent per day in 2024 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.

Present Market Standing of Devon Energy

• Trading volume stands at 2,321,069, with DVN's price down by 0.0%, positioned at $36.96.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 36 days.

Professional Analyst Ratings for Devon Energy

A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $47.25.

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 Raymond James continues to hold a Outperform rating for Devon Energy, targeting a price of $46. * Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Devon Energy, targeting a price of $55. * An analyst from JP Morgan has decided to maintain their Neutral rating on Devon Energy, which currently sits at a price target of $42. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Devon Energy, targeting a price of $46.

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.