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 13 trades.
If we consider the specifics of each trade, it is accurate to state that 46% of the investors opened trades with bullish expectations and 38% with bearish.
From the overall spotted trades, 6 are puts, for a total amount of $313,385 and 7, calls, for a total amount of $412,815.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $45.0 for Devon Energy, spanning the last three months.
Analyzing 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 $30.0 to $45.0 over the preceding 30 days.
Devon Energy Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DVN | PUT | SWEEP | BEARISH | 01/16/26 | $6.05 | $5.95 | $6.05 | $37.50 | $120.3K | 4.2K | 256 |
| DVN | CALL | SWEEP | BULLISH | 05/16/25 | $3.3 | $3.2 | $3.3 | $32.50 | $98.6K | 704 | 300 |
| DVN | CALL | SWEEP | BULLISH | 05/16/25 | $3.3 | $3.2 | $3.3 | $32.50 | $78.5K | 704 | 538 |
| DVN | CALL | TRADE | NEUTRAL | 01/15/27 | $3.05 | $2.85 | $2.95 | $45.00 | $67.8K | 760 | 261 |
| DVN | CALL | SWEEP | BULLISH | 05/16/25 | $3.35 | $3.3 | $3.35 | $32.50 | $58.2K | 704 | 774 |
About Devon Energy
Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.
Devon Energy's Current Market Status
- Currently trading with a volume of 2,312,349, the DVN's price is up by 1.15%, now at $33.53.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 8 days.
What Analysts Are Saying About Devon Energy
5 market experts have recently issued ratings for this stock, with a consensus target price of $47.8.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * Maintaining their stance, an analyst from Piper Sandler continues to hold a Overweight rating for Devon Energy, targeting a price of $54. * An analyst from Bernstein has elevated its stance to Outperform, setting a new price target at $45. * An analyst from Truist Securities persists with their Hold rating on Devon Energy, maintaining a target price of $42. * An analyst from Raymond James has decided to maintain their Outperform rating on Devon Energy, which currently sits at a price target of $54. * Showing optimism, an analyst from Benchmark upgrades its rating to Buy with a revised price target of $44.
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.
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