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 9 trades.
If we consider the specifics of each trade, it is accurate to state that 0% of the investors opened trades with bullish expectations and 100% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $150,741 and 6, calls, for a total amount of $168,129.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $42.5 to $50.0 for Devon Energy during the past quarter.
Insights into Volume & Open Interest
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 $42.5 to $50.0 in the last 30 days.
Devon Energy Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DVN | PUT | SWEEP | BEARISH | 01/17/25 | $45.00 | $85.5K | 6.7K | 121 |
| DVN | PUT | SWEEP | BEARISH | 03/15/24 | $45.00 | $38.7K | 1.4K | 0 |
| DVN | CALL | SWEEP | NEUTRAL | 01/19/24 | $45.00 | $29.1K | 12.8K | 447 |
| DVN | CALL | TRADE | BEARISH | 04/19/24 | $42.50 | $28.8K | 552 | 11 |
| DVN | CALL | TRADE | BEARISH | 03/15/24 | $50.00 | $28.2K | 5.8K | 793 |
About Devon Energy
Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base is spread throughout onshore North America and includes exposure to the Delaware, STACK, Eagle Ford, Powder River Basin, and Bakken plays. At year-end 2022, Devon's proved reserves totaled 1.8 billion barrels of oil equivalent, and net production that year was 611 thousand boe/d, of which oil and natural gas liquids made up 73% of production, with natural gas accounting for the remainder.
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
- Currently trading with a volume of 3,798,786, the DVN's price is up by 1.08%, now at $43.93.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 67 days.
Expert Opinions on Devon Energy
5 market experts have recently issued ratings for this stock, with a consensus target price of $54.8.
- An analyst from JP Morgan has elevated its stance to Overweight, setting a new price target at $58.
- Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for Devon Energy, targeting a price of $48.
- An analyst from RBC Capital has decided to maintain their Sector Perform rating on Devon Energy, which currently sits at a price target of $55.
- An analyst from Truist Securities persists with their Buy rating on Devon Energy, maintaining a target price of $65.
- An analyst from Wells Fargo has decided to maintain their Equal-Weight rating on Devon Energy, which currently sits at a price target of $48.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
