Looking At Devon Energy's Recent Unusual Options Activity

Investors with significant funds have taken a bearish position in Devon Energy DVN, a development that retail traders should be aware of.

This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in DVN usually indicates foreknowledge of upcoming events.

Today, Benzinga's options scanner identified 10 options transactions for Devon Energy. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 30% being bullish and 60% bearish. Of all the options we discovered, 9 are puts, valued at $828,011, and there was a single call, worth $67,680.

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Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $29.0 to $45.0 for Devon Energy over the recent three months.

Volume & Open Interest Trends

In terms of liquidity and interest, the mean open interest for Devon Energy options trades today is 2945.25 with a total volume of 2,268.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Devon Energy's big money trades within a strike price range of $29.0 to $45.0 over the last 30 days.

Devon Energy 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

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 2024, Devon reported net proved reserves of 2.2 billion barrels of oil equivalent. Net production averaged roughly 848,000 barrels of oil equivalent per day in 2024 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

• With a trading volume of 2,462,053, the price of DVN is down by -6.94%, reaching $30.86.
• Current RSI values indicate that the stock is may be approaching oversold.
• Next earnings report is scheduled for 32 days from now.

What The Experts Say On Devon Energy

In the last month, 4 experts released ratings on this stock with an average target price of $45.25.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Consistent in their evaluation, an analyst from Raymond James keeps a Outperform rating on Devon Energy with a target price of $46. * An analyst from JP Morgan persists with their Neutral rating on Devon Energy, maintaining a target price of $42. * An analyst from Morgan Stanley persists with their Overweight rating on Devon Energy, maintaining a target price of $47. * Maintaining their stance, an analyst from Citigroup continues to hold a Buy rating for Devon Energy, targeting a price of $46.

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.