Spotlight on Devon Energy: Analyzing the Surge in Options Activity

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Investors with a lot of money to spend have taken a bearish stance on Devon Energy DVN.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DVN, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 9 uncommon options trades for Devon Energy.

This isn't normal.

The overall sentiment of these big-money traders is split between 22% bullish and 77%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $120,995, and 5 are calls, for a total amount of $355,235.

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 $45.0 to $55.0 for Devon Energy during the past quarter.

Volume & Open Interest Trends

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 $45.0 to $55.0 over the preceding 30 days.

Devon Energy Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
DVN CALL TRADE BULLISH 06/20/25 $2.86 $1.9 $2.7 $55.00 $202.5K 1.9K 0
DVN CALL SWEEP BEARISH 10/18/24 $2.7 $2.62 $2.62 $47.50 $52.4K 3.0K 204
DVN CALL TRADE BEARISH 10/18/24 $2.54 $2.35 $2.35 $47.50 $47.0K 3.0K 1
DVN PUT SWEEP BEARISH 01/17/25 $3.65 $3.6 $3.65 $47.50 $32.8K 5.9K 15
DVN PUT TRADE BULLISH 06/20/25 $9.6 $7.15 $8.1 $52.50 $32.4K 2.6K 0

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.

In light of the recent options history for Devon Energy, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Current Position of Devon Energy

  • Trading volume stands at 4,088,710, with DVN's price up by 3.99%, positioned at $47.65.
  • RSI indicators show the stock to be is currently neutral between overbought and oversold.
  • Earnings announcement expected in 36 days.

What Analysts Are Saying About Devon Energy

1 market experts have recently issued ratings for this stock, with a consensus target price of $64.0.

  • An analyst from B of A Securities has revised its rating downward to Buy, adjusting the price target to $64.

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.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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