Devon Energy Unusual Options Activity For December 02

Devon Energy Unusual Options Activity For December 02

A whale with a lot of money to spend has taken a noticeably bearish stance on Devon Energy.

Looking at options history for Devon Energy DVN we detected 11 strange trades.

If we consider the specifics of each trade, it is accurate to state that 27% of the investors opened trades with bullish expectations and 72% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $411,390 and 8, calls, for a total amount of $932,832.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $50.0 to $115.0 for Devon Energy over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Devon Energy options trades today is 5770.43 with a total volume of 16,293.00.

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 $50.0 to $115.0 over the last 30 days.

Devon Energy Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

 

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
DVN CALL TRADE BEARISH 07/21/23 $90.00 $354.4K 308 6.0K
DVN PUT SWEEP BEARISH 06/16/23 $115.00 $238.5K 306 61
DVN CALL TRADE BEARISH 04/21/23 $70.00 $138.0K 3.1K 314
DVN CALL SWEEP BEARISH 04/21/23 $80.00 $103.6K 3.3K 401
DVN CALL TRADE BULLISH 01/20/23 $80.00 $96.2K 21.6K 4.8K

Where Is Devon Energy Standing Right Now?

  • With a volume of 2,903,926, the price of DVN is up 1.22% at $69.11.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 74 days.

What The Experts Say On Devon Energy:

  • Raymond James has decided to maintain their Strong Buy rating on Devon Energy, which currently sits at a price target of $87.
  • Argus Research has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $90.

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.

Posted In: BZI-UOAOptionsMarkets