Whales with a lot of money to spend have taken a noticeably bullish 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 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $134,112 and 7, calls, for a total amount of $307,916.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $40.0 to $54.0 for Devon Energy during the past quarter.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Devon Energy's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Devon Energy's significant trades, within a strike price range of $40.0 to $54.0, over the past month.
Devon Energy Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DVN | CALL | TRADE | BULLISH | 01/17/25 | $45.00 | $98.2K | 1.9K | 150 |
| DVN | PUT | SWEEP | BEARISH | 04/19/24 | $50.00 | $61.2K | 1.9K | 8 |
| DVN | CALL | SWEEP | BULLISH | 02/16/24 | $47.50 | $45.9K | 3.1K | 535 |
| DVN | PUT | TRADE | BEARISH | 01/19/24 | $54.00 | $45.3K | 0 | 56 |
| DVN | CALL | TRADE | BEARISH | 04/19/24 | $45.00 | $43.0K | 2.0K | 0 |
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.
Current Position of Devon Energy
- Currently trading with a volume of 3,900,475, the DVN's price is up by 0.41%, now at $47.0.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 40 days.
What The Experts Say On Devon Energy
In the last month, 4 experts released ratings on this stock with an average target price of $52.75.
- Showing optimism, an analyst from JP Morgan upgrades its rating to Overweight with a revised price target of $58.
- An analyst from UBS persists with their Neutral rating on Devon Energy, maintaining a target price of $48.
- An analyst from Raymond James has decided to maintain their Outperform rating on Devon Energy, which currently sits at a price target of $53.
- In a positive move, an analyst from Morgan Stanley has upgraded their rating to Overweight and adjusted the price target to $52.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Devon Energy, Benzinga Pro gives you real-time options trades alerts.
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