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 22 trades.
If we consider the specifics of each trade, it is accurate to state that 31% of the investors opened trades with bullish expectations and 68% with bearish.
From the overall spotted trades, 17 are puts, for a total amount of $2,610,089 and 5, calls, for a total amount of $347,090.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $37.5 to $60.0 for Devon Energy over the last 3 months.
Insights into Volume & Open Interest
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 $37.5 to $60.0 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 | PUT | TRADE | BEARISH | 06/20/25 | $40.00 | $665.0K | 482 | 1.0K |
| DVN | PUT | TRADE | BEARISH | 06/20/25 | $40.00 | $266.0K | 482 | 1.8K |
| DVN | PUT | TRADE | BEARISH | 06/20/25 | $40.00 | $232.7K | 482 | 2.1K |
| DVN | PUT | TRADE | BULLISH | 09/20/24 | $40.00 | $205.0K | 700 | 500 |
| DVN | PUT | SWEEP | BULLISH | 06/20/25 | $42.50 | $159.9K | 151 | 216 |
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.
Devon Energy's Current Market Status
- Currently trading with a volume of 3,909,174, the DVN's price is up by 0.81%, now at $41.3.
- RSI readings suggest the stock is currently may be oversold.
- Anticipated earnings release is in 36 days.
What The Experts Say On Devon Energy
1 market experts have recently issued ratings for this stock, with a consensus target price of $53.0.
- Consistent in their evaluation, an analyst from Mizuho keeps a Buy rating on Devon Energy with a target price of $53.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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