Financial giants have made a conspicuous bearish move on Devon Energy. Our analysis of options history for Devon Energy DVN revealed 21 unusual trades.
Delving into the details, we found 42% of traders were bullish, while 57% showed bearish tendencies. Out of all the trades we spotted, 6 were puts, with a value of $271,140, and 15 were calls, valued at $680,330.
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 $37.5 to $52.5 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 $37.5 to $52.5 over the preceding 30 days.
Devon Energy Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DVN | CALL | SWEEP | BULLISH | 07/19/24 | $42.50 | $107.1K | 754 | 17 |
| DVN | PUT | SWEEP | BULLISH | 03/01/24 | $48.00 | $97.1K | 95 | 172 |
| DVN | CALL | TRADE | BEARISH | 01/16/26 | $52.50 | $85.0K | 293 | 618 |
| DVN | PUT | SWEEP | BEARISH | 03/21/25 | $37.50 | $69.8K | 306 | 290 |
| DVN | CALL | TRADE | BULLISH | 01/16/26 | $52.50 | $68.0K | 293 | 968 |
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 5,167,840, the price of DVN is up by 1.02%, reaching $42.45.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 26 days from now.
Professional Analyst Ratings for Devon Energy
In the last month, 4 experts released ratings on this stock with an average target price of $59.75.
- Maintaining their stance, an analyst from Mizuho continues to hold a Buy rating for Devon Energy, targeting a price of $53.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Devon Energy with a target price of $59.
- An analyst from Raymond James persists with their Outperform rating on Devon Energy, maintaining a target price of $52.
- Maintaining their stance, an analyst from Stifel continues to hold a Buy rating for Devon Energy, targeting a price of $75.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
