Devon Energy Unusual Options Activity

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 10 trades.

If we consider the specifics of each trade, it is accurate to state that 20% of the investors opened trades with bullish expectations and 80% with bearish.

From the overall spotted trades, 8 are puts, for a total amount of $502,684 and 2, calls, for a total amount of $77,750.

Predicted Price Range

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $37.5 and $50.0 for Devon Energy, spanning the last three months.

Volume & Open Interest Trends

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 $37.5 to $50.0 in the last 30 days.

Devon Energy 30-Day Option Volume & Interest Snapshot

Biggest Options Spotted:

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.

Present Market Standing of Devon Energy

• Trading volume stands at 1,571,260, with DVN's price up by 0.24%, positioned at $45.35.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 54 days.

Expert Opinions on Devon Energy

In the last month, 5 experts released ratings on this stock with an average target price of $50.8.

• 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 UBS has decided to maintain their Neutral rating on Devon Energy, which currently sits at a price target of $48.
• Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Devon Energy, targeting a price of $48.
• Showing optimism, an analyst from Morgan Stanley upgrades its rating to Overweight with a revised price target of $52.
• An analyst from JP Morgan has elevated its stance to Overweight, setting a new price target at $58.

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.