Check Out What Whales Are Doing With DVN

Investors with a lot of money to spend have taken a bullish 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 8 uncommon options trades for Devon Energy.

This isn't normal.

The overall sentiment of these big-money traders is split between 62% bullish and 12%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $133,893, and 4 are calls, for a total amount of $208,221.

What's The Price Target?

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $30.0 to $37.5 for Devon Energy during the past quarter.

Analyzing Volume & Open Interest

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 $30.0 to $37.5 over the preceding 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.

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

Present Market Standing of Devon Energy

• Trading volume stands at 7,631,074, with DVN's price up by 0.55%, positioned at $34.9.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 48 days.

What The Experts Say On Devon Energy

In the last month, 2 experts released ratings on this stock with an average target price of $42.5.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Morgan Stanley has decided to maintain their Overweight rating on Devon Energy, which currently sits at a price target of $44. * An analyst from Wells Fargo persists with their Overweight rating on Devon Energy, maintaining a target price of $41.

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.