Financial giants have made a conspicuous bearish move on Devon Energy. Our analysis of options history for Devon Energy DVN revealed 14 unusual trades.
Delving into the details, we found 35% of traders were bullish, while 64% showed bearish tendencies. Out of all the trades we spotted, 7 were puts, with a value of $275,589, and 7 were calls, valued at $401,892.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $27.5 to $55.0 for Devon Energy over the last 3 months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Devon Energy stands at 1718.0, with a total volume reaching 1,630.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Devon Energy, situated within the strike price corridor from $27.5 to $55.0, throughout the last 30 days.
Devon Energy Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DVN | CALL | SWEEP | BULLISH | 09/20/24 | $40.00 | $128.3K | 29 | 291 |
| DVN | PUT | SWEEP | BEARISH | 03/15/24 | $47.50 | $75.5K | 4.4K | 105 |
| DVN | CALL | SWEEP | NEUTRAL | 01/17/25 | $40.00 | $67.8K | 1.2K | 0 |
| DVN | CALL | SWEEP | BULLISH | 01/17/25 | $40.00 | $61.0K | 1.2K | 149 |
| DVN | CALL | SWEEP | BULLISH | 09/20/24 | $42.50 | $53.9K | 140 | 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.
Having examined the options trading patterns of Devon Energy, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Where Is Devon Energy Standing Right Now?
- With a volume of 2,908,410, the price of DVN is down -0.48% at $41.1.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 22 days.
What Analysts Are Saying About Devon Energy
A total of 4 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $59.75.
- Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Devon Energy with a target price of $59.
- Consistent in their evaluation, an analyst from Raymond James keeps a Outperform rating on Devon Energy with a target price of $52.
- An analyst from Stifel has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $75.
- An analyst from Mizuho persists with their Buy rating on Devon Energy, maintaining 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.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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