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 15 trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 46% with bearish.
From the overall spotted trades, 12 are puts, for a total amount of $884,085 and 3, calls, for a total amount of $215,819.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $47.5 and $55.0 for Devon Energy, spanning the last three months.
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 $47.5 to $55.0, over the past month.
Devon Energy Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DVN | PUT | SWEEP | BULLISH | 12/20/24 | $3.8 | $3.75 | $3.75 | $50.00 | $244.1K | 452 | 651 |
| DVN | PUT | SWEEP | BULLISH | 09/20/24 | $5.45 | $5.35 | $5.35 | $55.00 | $151.9K | 369 | 148 |
| DVN | CALL | SWEEP | BEARISH | 09/20/24 | $4.2 | $4.1 | $4.1 | $50.00 | $116.0K | 7.0K | 0 |
| DVN | PUT | SWEEP | BULLISH | 01/17/25 | $3.95 | $3.85 | $3.85 | $50.00 | $97.4K | 7.6K | 0 |
| DVN | PUT | SWEEP | BULLISH | 01/17/25 | $3.95 | $3.85 | $3.85 | $50.00 | $67.4K | 7.6K | 576 |
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 2023, net production totaled roughly 658 thousand boe/d, of which oil and natural gas liquids made up roughly three-quarters 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.
Current Position of Devon Energy
- With a trading volume of 1,586,014, the price of DVN is up by 0.48%, reaching $51.1.
- Current RSI values indicate that the stock is may be approaching oversold.
- Next earnings report is scheduled for 84 days from now.
What The Experts Say On Devon Energy
In the last month, 5 experts released ratings on this stock with an average target price of $60.0.
- An analyst from Mizuho has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $57.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for Devon Energy, targeting a price of $62.
- An analyst from Morgan Stanley has decided to maintain their Overweight rating on Devon Energy, which currently sits at a price target of $50.
- Maintaining their stance, an analyst from Truist Securities continues to hold a Buy rating for Devon Energy, targeting a price of $69.
- An analyst from Citigroup persists with their Buy rating on Devon Energy, maintaining a target price of $62.
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.
© 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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