Looking At Devon Energy's Recent Unusual Options Activity

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 21 strange trades.

If we consider the specifics of each trade, it is accurate to state that 47% of the investors opened trades with bullish expectations and 52% with bearish.

From the overall spotted trades, 9 are puts, for a total amount of $678,008 and 12, calls, for a total amount of $673,538.

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 $40.0 to $80.0 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 2679.35 with a total volume of 3,476.00.

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 $40.0 to $80.0 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 PUT TRADE BULLISH 01/19/24 $60.00 $332.5K 2.2K 365
DVN CALL TRADE BEARISH 07/21/23 $80.00 $133.3K 2.6K 1.1K
DVN PUT SWEEP BEARISH 03/17/23 $65.00 $80.1K 3.4K 30
DVN CALL TRADE BULLISH 03/10/23 $62.00 $72.0K 22 26
DVN CALL TRADE BEARISH 01/19/24 $55.00 $69.8K 1.5K 57

Where Is Devon Energy Standing Right Now?

  • With a volume of 2,827,545, the price of DVN is down -2.45% at $61.69.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 13 days.

What The Experts Say On Devon Energy:

  • Piper Sandler has decided to maintain their Overweight rating on Devon Energy, which currently sits at a price target of $96.
  • Wells Fargo downgraded its action to Equal-Weight with a price target of $70
  • Morgan Stanley has decided to maintain their Equal-Weight rating on Devon Energy, which currently sits at a price target of $61.
  • Raymond James has decided to maintain their Strong Buy rating on Devon Energy, which currently sits at a price target of $80.
  • Barclays has decided to maintain their Equal-Weight rating on Devon Energy, which currently sits at a price target of $82.

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
Date of Trade
ticker
Put/Call
Strike Price
DTE
Sentiment
Posted In: OptionsMarketsBZI-UOA
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