Devon Energy Unusual Options Activity For March 24

Someone with a lot of money to spend has taken a bearish stance on Devon Energy DVN.

And retail traders should know.

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

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 14 uncommon options trades for Devon Energy.

This isn't normal.

The overall sentiment of these big-money traders is split between 35% bullish and 64%, bearish.

Out of all of the special options we uncovered, 7 are puts, for a total amount of $300,197, and 7 are calls, for a total amount of $457,625.

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 $42.0 to $65.0 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 2394.77 with a total volume of 2,523.00.

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 $42.0 to $65.0 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 SWEEP BEARISH 01/17/25 $65.00 $179.6K 820 450
DVN CALL SWEEP BULLISH 04/21/23 $45.50 $86.1K 7 2
DVN CALL SWEEP BULLISH 04/21/23 $45.50 $83.1K 7 602
DVN PUT SWEEP BEARISH 01/19/24 $42.00 $59.9K 1.9K 154
DVN PUT SWEEP BULLISH 09/15/23 $55.00 $50.0K 928 43

Where Is Devon Energy Standing Right Now?

  • With a volume of 3,921,697, the price of DVN is down -0.19% at $46.63.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 38 days.

What The Experts Say On Devon Energy:

  • Citigroup has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $66.
  • Piper Sandler has decided to maintain their Overweight rating on Devon Energy, which currently sits at a price target of $85.
  • Goldman Sachs has decided to maintain their Neutral rating on Devon Energy, which currently sits at a price target of $58.

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.


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Posted In: OptionsMarketsBZI-UOA