Financial giants have made a conspicuous bullish move on Devon Energy. Our analysis of options history for Devon Energy DVN revealed 8 unusual trades.
Delving into the details, we found 62% of traders were bullish, while 37% showed bearish tendencies. Out of all the trades we spotted, 2 were puts, with a value of $121,852, and 6 were calls, valued at $319,100.
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 $42.5 to $50.0 for Devon Energy during the past quarter.
Volume & Open Interest Development
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 $42.5 to $50.0 over the preceding 30 days.
Devon Energy Option Activity Analysis: Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DVN | CALL | SWEEP | BULLISH | 04/19/24 | $42.50 | $88.8K | 696 | 250 |
| DVN | CALL | TRADE | BULLISH | 04/19/24 | $50.00 | $69.3K | 3.3K | 1.1K |
| DVN | PUT | SWEEP | BEARISH | 06/21/24 | $42.50 | $61.4K | 2.5K | 1 |
| DVN | PUT | SWEEP | BULLISH | 01/19/24 | $47.00 | $60.3K | 19.6K | 139 |
| DVN | CALL | TRADE | BULLISH | 04/19/24 | $50.00 | $55.0K | 3.3K | 1.6K |
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.
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?
- With a trading volume of 1,198,795, the price of DVN is down by -1.28%, reaching $43.84.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 63 days from now.
What Analysts Are Saying About Devon Energy
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $54.2.
- Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Devon Energy, targeting a price of $61.
- Showing optimism, an analyst from JP Morgan upgrades its rating to Overweight with a revised price target of $58.
- An analyst from Wells Fargo persists with their Equal-Weight rating on Devon Energy, maintaining a target price of $48.
- An analyst from Morgan Stanley has elevated its stance to Overweight, setting a new price target at $52.
- An analyst from UBS persists with their Neutral rating on Devon Energy, maintaining a target price of $52.
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.
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