Smart Money Is Betting Big In DVN Options

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Deep-pocketed investors have adopted a bullish approach towards Devon Energy DVN, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DVN usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Devon Energy. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 54% leaning bullish and 45% bearish. Among these notable options, 3 are puts, totaling $93,772, and 8 are calls, amounting to $398,033.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $55.0 for Devon Energy, spanning the last three months.

Analyzing 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 $40.0 to $55.0, over the past month.

Devon Energy Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
DVN CALL TRADE BEARISH 06/20/25 $3.0 $2.95 $2.95 $55.00 $117.7K 2.1K 501
DVN CALL TRADE BULLISH 01/16/26 $6.35 $6.15 $6.35 $50.00 $84.4K 1.5K 185
DVN CALL TRADE BULLISH 01/16/26 $12.95 $9.0 $11.5 $40.00 $46.0K 290 0
DVN PUT SWEEP BEARISH 09/20/24 $1.79 $1.75 $1.79 $45.00 $36.3K 1.6K 589
DVN CALL TRADE BEARISH 10/18/24 $2.82 $2.79 $2.79 $47.50 $32.3K 1.2K 423

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.

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.

Present Market Standing of Devon Energy

  • Trading volume stands at 6,872,748, with DVN's price down by -4.22%, positioned at $46.84.
  • RSI indicators show the stock to be may be oversold.
  • Earnings announcement expected in 62 days.

Expert Opinions on Devon Energy

5 market experts have recently issued ratings for this stock, with a consensus target price of $60.6.

  • An analyst from Mizuho has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $57.
  • Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Devon Energy with a target price of $67.
  • An analyst from RBC Capital has decided to maintain their Sector Perform rating on Devon Energy, which currently sits at a price target of $57.
  • Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on Devon Energy with a target price of $61.
  • An analyst from Mizuho has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $61.

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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Posted In: OptionsMarketsBZI-UOA
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