AdvisorShares Hotel ETF (ARCA:BEDZ), Trade Ideas

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BEDZ

EATZ

MSOS

AdvisorShares Trust AdvisorShares MSOS 2x Daily ETF

MSOX

PSDN

PSIL

VICE

YOLO

AdvisorShares revealed that the AdvisorShares MSOS 2x Daily ETF (ARCA:MSOX) will begin trading on August 24th.

AdvisorShares Expands Cannabis ETF Offerings, Launches MSOS 2X Daily ETF MSOX

Earnings

Walmart Inc. (NYSE: WMT) spooked the market last week with its large second-quarter earnings and revenue misses, leading to concerns U.S. consumer spending may be deteriorating.

Consumer Spending Slowdown? Not So Fast, Visa Execs Say -- This Industry Is Winning

AdvisorShares Hotel ETF

Benchmark&nbsp;analyst Mark Miller upgraded&nbsp;Western Digital Corp&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WDC#NASDAQ">WDC</a>) from Hold to Buy and a&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/WDC/analyst-ratings" rel="noreferrer noopener">$85&nbsp;price target</a>.
Miller said Western Digital produced&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38447222/western-digital-q3-earnings-revenue-beat-higher-asp-upbeat-q4-guidance-and-more" rel="noreferrer noopener">significant upside results</a>, driven by improving flash pricing and nearline drive sales.&nbsp;
He noted continued improvements in NAND pricing and Nearline sales as 2024 progresses.&nbsp;
Also Read:&nbsp;<a target="_blank" href="https://www.benzinga.com/analyst-ratings/analyst-color/24/03/37968399/western-digital-poised-for-breakout-analyst-sees-10-estimate-beat-and-powerful-nand" rel="noreferrer noopener">Western Digital Poised For Breakout, Analyst Sees 10% Estimate Beat And Powerful NAND&nbsp;Recovery</a>
Miller now projects fiscal 2025 adjusted EPS of $6.84 on sales of $16.5 billion.&nbsp;
Western Digital's third-quarter adjusted EPS of $0.63 was an upside to investor expectations by $0.58, while sales of $3.46 billion were $100 million above investor expectations, the analyst stated.
HDD sales were up 28.2% sequentially and 17.1% year over year to $1.75 billion. Improving nearline sales aided results driven by&nbsp;hyperscale&nbsp;customers. Shipments of 24 TB and 28 TB SMR drives represented 50% of Nearline shipments, he noted.
Driven by higher ASPs, flash sales grew by 2.4% sequentially to $1.71 billion and were up by 30.5% year over year. Miller added that&nbsp;NAND ASPs sequentially increased by 18% on both a like-for-like and blended basis.
Cloud sales were up 43.1% year over year and 27.2% year over year to $1.53 billion, representing 44% of total sales. HDD ASPs increased by $23 sequentially to $145. Miller said the sequential growth&nbsp;was attributed&nbsp;to higher Nearline shipments and better pricing.
Client sales grew by 4.6% year over year to $1.17 billion and by 20.4% sequentially, representing 34% of March quarter sales. An increase in flash ASPs was more than offset by a decline in flash shipments.&nbsp;
Miller said the Y/Y increase&nbsp;was driven&nbsp;by growth in both flash and HDD ASPs and flash bit shipments.
Consumer sales fell 13% sequentially to $0.73 billion but were up 17.2% year over year. Flash and HDD were down by approximately similar rates and in line with seasonality.&nbsp;Miller added that the year-over-year increase&nbsp;was driven&nbsp;by&nbsp;growth in&nbsp;flash bit shipments and ASPs.
March quarter adjusted gross margins were 29.3% versus 15.5% in&nbsp;the&nbsp;December&nbsp;quarter.&nbsp;HDD adjusted&nbsp;gross margins sequentially improved from 24.8% to 31.1%, while&nbsp;Flash adjusted&nbsp;gross margins&nbsp;sequentially&nbsp;improved&nbsp;from 7.9% to 27.4%.&nbsp;
Miller projected fourth-quarter revenue and EPS of $3.75 billion and $1.17.
Western Digital stock gained over 113% in the last 12 months.&nbsp;Investors can gain exposure to the stock via&nbsp;IShares Future&nbsp;Cloud 5G And Tech ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDAT#NYSE">IDAT</a>) and&nbsp;Columbia ETF&nbsp;Trust I Columbia Seligman Semiconductor And Technology ETF&nbsp;(NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SEMI#NYSE">SEMI</a>).
Price Actions: WDC shares traded higher by 1.87% at $70.74 on the last check Friday. 
Photo via Wikimedia Commons

Upgrades

Price Target

Analyst Ratings

Tech

Trading Ideas

IDAT

SEMI

Western Digital Analyst Highlights Growth in Nearline Drive and NAND Market Recovery, Upgrades Stock

Wells Fargo analyst Aaron Rakers maintains Intel (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INTC#NASDAQ">INTC</a>) with a Equal-Weight and lowers the price target from $43 to $38.

INTC

Wells Fargo Maintains Equal-Weight on Intel, Lowers Price Target to $38

HC Wainwright &amp; Co. analyst Emily Bodnar reiterates Purple Biotech (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PPBT#NASDAQ">PPBT</a>) with a Buy and maintains $10 price target.

Reiteration

PPBT

HC Wainwright & Co. Reiterates Buy on Purple Biotech, Maintains $10 Price Target

Wells Fargo analyst Ken Gawrelski maintains Snap (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SNAP#NYSE">SNAP</a>) with a Overweight and raises the price target from $16 to $18.

SNAP

Wells Fargo Maintains Overweight on Snap, Raises Price Target to $18

HC Wainwright &amp; Co. analyst Douglas Tsao reiterates Apellis Pharmaceuticals (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/APLS#NASDAQ">APLS</a>) with a Buy and maintains $92 price target.

APLS

HC Wainwright & Co. Reiterates Buy on Apellis Pharmaceuticals, Maintains $92 Price Target

Asset Sales

General Mills Explores Sale Of North America Yogurt Portfolio That Could Be Worth Over $2B

Roku, Inc&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) shares are trading lower today. Analysts slashed their price targets after the&nbsp;<a target="_blank" href="https://www.benzinga.com/news/earnings/24/04/38446113/roku-exceeds-q1-earnings-expectations-provides-upbeat-guidance" rel="noreferrer noopener">first-quarter print&nbsp;on Thursday.</a>
Wedbush&nbsp;analyst Michael Pachter maintained Roku with an Outperform rating and lowered the&nbsp;<a target="_blank" href="https://www.benzinga.com/quote/ROKU/analyst-ratings" rel="noreferrer noopener">price target from&nbsp;$80&nbsp;to&nbsp;$75</a>.
The reiteration reflected significant opportunities for growth in Roku&#8217;s business and its commitment to expanding profitably.
Roku reached positive annual EBITDA in 2023, one year earlier than it guided, is on a path to exceed $100 million in annual EBITDA in 2024 and should accelerate from there. Pachter&nbsp;noted Roku will not revert to excessive spending for long-term growth. Instead, Roku has re-focused on balancing new initiatives that result in near-term ROI with expanding FCF and tracking toward positive net income. Pachter said that&nbsp;Roku continues taking market share as ad dollars shift from linear to digital-connected TV (&#8220;CTV&#8221;).
Roku is also capturing an expanding share of&nbsp;newfront&nbsp;ad bookings as it adds incremental ad inventory to its platform, and it has begun to benefit from the rebound in scatter demand and pricing. Roku is also expanding beyond its OneView platform and opening up to other demand-side platforms (DSPs) to drive more advertising, Pachter noted.
Its focus on curated sports pages should also drive incremental advertising and subscription revenue in the near and long term. Pachter projected second-quarter revenue of $935 million (prior $941 million) and EBITDA of $32.9 million (prior $21.1 million).
Piper Sandler&nbsp;analyst Matt Farrell reiterated Roku with a Neutral and lowered the price target from&nbsp;$81&nbsp;to&nbsp;$65.
Roku delivered first-quarter platform revenue and EBITDA ahead of expectations, with guidance slightly above consensus. However, Farrell noted that investors are left looking for more, as platform revenue acceleration will not be until 2025, and sales and marketing spending in the second half will weigh on EBITDA. Management has a clear strategy, focused on a three-pronged approach to accelerate platform revenue next year.
Roku sits at an exciting spot in the CTV transition, but Farrell would rather wait for revenue to inflect to get more constructive on the story. Farrell projected second-quarter revenue of $930.1 million and EBITDA of $30.8 million.
Benchmark&nbsp;analyst Daniel Kurnos maintained Roku with a Buy and lowered the price target from&nbsp;$115&nbsp;to&nbsp;$105.
Roku remains firmly in the show-me camp, with fears of disruption from Walmart Inc (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/WMT#NYSE">WMT</a>) &#8211; VIZIO Holding Corp (NYSE: VZIO), Amazon.Com Inc (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AMZN#NASDAQ">AMZN</a>) ad-supported, and any other number of headlines continuing to outweigh what he noted is growing evidence that Roku is a must-advertise platform. Kurnos projected second-quarter revenue of $936 million and EBITDA of $31 million.
Oppenheimer analyst Jason Helfstein reiterated a Perform rating. While Helfstein remained positive on programmatic integrations, now integrated with most DSPs, revenue tailwinds lag as SVOD advertising and Media and Entertainment remain headwinds.
Helfstein&nbsp;projected second-quarter revenue of $935.7 million (prior $909.4 million) and adjusted EBITDA of $30.1 million (prior $12.95 million).
JP Morgan&nbsp;analyst Cory A Carpenter remained Overweight-rated on Roku but lowered his price target from $100 to $90.
Roku remains a show-me story as it works through tough comps and overhangs from potential CPM compression and WMT &#8211; VZIO. Still, the analyst remained optimistic about management&#8217;s ability to re-accelerate Platform growth as 3P DSP partnerships ramp up and ad dollars increasingly shift from linear to streaming.
Carpenter projected second-quarter revenue of $935 million (prior $969 million) and adjusted EBITDA of $30 million (prior $34 million).
Price Action: ROKU shares are trading lower by 9.8% to $56.65 at the last check Friday.
Photo by rafapress on Shutterstock

Analyst Color

Equities

AMZN

ROKU

Roku Analysts Vouch for the Must-Advertise Platform, Albeit Seek Revenue Upside to Get More Constructive

Wells Fargo analyst Steven Cahall maintains Roku (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ROKU#NASDAQ">ROKU</a>) with a Underweight and raises the price target from $45 to $52.

Wells Fargo Maintains Underweight on Roku, Raises Price Target to $52

WIIM

CAVA

CAVA Group shares are trading higher, not seeing company-specific news from today's session. The company recently announced its first Chicago restaurant.

Wells Fargo analyst Joseph O'Dea maintains Dover (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOV#NYSE">DOV</a>) with a Equal-Weight and raises the price target from $177 to $190.

Wells Fargo Maintains Equal-Weight on Dover, Raises Price Target to $190

Wells Fargo analyst Joe O'Dea maintains Carrier Global (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CARR#NYSE">CARR</a>) with a Equal-Weight and raises the price target from $59 to $66.

CARR

Wells Fargo Maintains Equal-Weight on Carrier Global, Raises Price Target to $66

HC Wainwright &amp; Co. analyst Douglas Tsao maintains Sage Therapeutics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SAGE#NASDAQ">SAGE</a>) with a Neutral and lowers the price target from $28 to $25.

SAGE

HC Wainwright & Co. Maintains Neutral on Sage Therapeutics, Lowers Price Target to $25

Wells Fargo analyst Larry Biegelsen maintains Edwards Lifesciences (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/EW#NYSE">EW</a>) with a Overweight and raises the price target from $94 to $99.

Wells Fargo Maintains Overweight on Edwards Lifesciences, Raises Price Target to $99

Wells Fargo analyst Daniel Politzer maintains Royal Caribbean Gr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RCL#NYSE">RCL</a>) with a Overweight and raises the price target from $153 to $159.

Wells Fargo Maintains Overweight on Royal Caribbean Gr, Raises Price Target to $159

Wells Fargo maintains Boyd Gaming (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BYD#NYSE">BYD</a>) with a Overweight and lowers the price target from $82 to $71.

Wells Fargo Maintains Overweight on Boyd Gaming, Lowers Price Target to $71

Investors with a lot of money to spend have taken a bearish stance on Caterpillar (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CAT#NYSE">CAT</a>).
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 CAT, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 19 uncommon options trades for Caterpillar.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 47%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $495,846, and 10 are calls, for a total amount of $788,888.
<h3>What's The Price Target?</h3>
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $315.0 to $400.0 for Caterpillar during the past quarter. 
<h3>Analyzing Volume &amp; Open Interest</h3>
In today's trading context, the average open interest for options of Caterpillar stands at 609.88, with a total volume reaching 2,386.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Caterpillar, situated within the strike price corridor from $315.0 to $400.0, throughout the last 30 days.
<h3>Caterpillar Call and Put Volume: 30-Day Overview</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714155384_0.png" alt="Options Call Chart" />
<h3>Noteworthy Options Activity:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>CAT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$7.35</td>
<td>$7.15</td>
<td>$7.2</td>
<td>$347.50</td>
<td>$360.0K</td>
<td>25</td>
<td style="text-align: right;">567</td>
</tr>
<tr>
<td>CAT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>06/20/25</td>
<td>$50.25</td>
<td>$48.95</td>
<td>$49.73</td>
<td>$340.00</td>
<td>$99.4K</td>
<td>351</td>
<td style="text-align: right;">23</td>
</tr>
<tr>
<td>CAT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>05/17/24</td>
<td>$63.8</td>
<td>$59.0</td>
<td>$63.8</td>
<td>$400.00</td>
<td>$95.7K</td>
<td>36</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>CAT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>07/19/24</td>
<td>$20.9</td>
<td>$18.05</td>
<td>$18.63</td>
<td>$350.00</td>
<td>$83.8K</td>
<td>1.2K</td>
<td style="text-align: right;">2</td>
</tr>
<tr>
<td>CAT</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>05/24/24</td>
<td>$20.45</td>
<td>$19.65</td>
<td>$19.99</td>
<td>$330.00</td>
<td>$76.0K</td>
<td>5</td>
<td style="text-align: right;">38</td>
</tr>
</tbody>
</table>

<h3>About Caterpillar</h3>
Caterpillar is the premier manufacturer of heavy equipment, power solutions, and locomotives. It is currently the world's largest manufacturer of heavy equipment with over 13% market share in 2021. The company is divided into four reportable segments: construction industries, resource industries, energy and transportation, and Caterpillar Financial Services. Its products are available through a dealer network that covers the globe with about 2,700 branches maintained by 160 dealers. Caterpillar Financial Services provides retail financing for machinery and engines to its customers, in addition to wholesale financing for dealers, which increases the likelihood of Caterpillar product sales.
Having examined the options trading patterns of Caterpillar, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
<h3>Caterpillar's Current Market Status</h3>
<ul>
<li>With a volume of 1,760,377, the price of CAT is up 1.95% at $344.58. </li>
<li>RSI indicators hint that the underlying stock may be approaching oversold.</li>
<li>Next earnings are expected to be released in 95 days.</li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Caterpillar options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

Options

This Is What Whales Are Betting On Caterpillar

Investors with a lot of money to spend have taken a bullish stance on Wingstop (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WING#NASDAQ">WING</a>).
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 WING, it often means somebody knows something is about to happen.
So how do we know what these investors just did? 
Today, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 18 uncommon options trades for Wingstop.
This isn't normal.
The overall sentiment of these big-money traders is split between 44% bullish and 44%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $1,500,341, and 13 are calls, for a total amount of $2,249,746.
<h3>Expected Price Movements</h3>
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $230.0 to $460.0 for Wingstop over the recent three months. 
<h3>Insights into Volume &amp; Open Interest</h3>
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Wingstop's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Wingstop's whale activity within a strike price range from $230.0 to $460.0 in the last 30 days. 
<h3>Wingstop 30-Day Option Volume &amp; Interest Snapshot</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714155379_0.png" alt="Options Call Chart" />
<h3>Significant Options Trades Detected:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th style="text-align: right;">Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>WING</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>12/20/24</td>
<td>$37.0</td>
<td>$36.2</td>
<td>$36.4</td>
<td>$350.00</td>
<td>$1.2M</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">352</td>
</tr>
<tr>
<td>WING</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>12/20/24</td>
<td>$36.9</td>
<td>$36.5</td>
<td>$36.8</td>
<td>$450.00</td>
<td>$1.1M</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">311</td>
</tr>
<tr>
<td>WING</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/17/25</td>
<td>$54.4</td>
<td>$51.9</td>
<td>$52.5</td>
<td>$410.00</td>
<td>$393.7K</td>
<td style="text-align: right;">82</td>
<td style="text-align: right;">75</td>
</tr>
<tr>
<td>WING</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$19.5</td>
<td>$18.6</td>
<td>$19.5</td>
<td>$400.00</td>
<td>$159.9K</td>
<td style="text-align: right;">856</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>WING</td>
<td>PUT</td>
<td>TRADE</td>
<td>BULLISH</td>
<td>01/16/26</td>
<td>$43.7</td>
<td>$43.1</td>
<td>$43.1</td>
<td>$300.00</td>
<td>$107.7K</td>
<td style="text-align: right;">7</td>
<td style="text-align: right;">65</td>
</tr>
</tbody>
</table>

<h3>About Wingstop</h3>
Founded in 1994 in Garland, Texas, Wingstop is a restaurant operator specializing in indulgent bone-in and boneless chicken wings, chicken tenders, fries, and, recently, chicken sandwiches. The firm's footprint has grown quickly since its inception, reaching north of 2,200 global stores at the end of 2023, rendering Wingstop the 31st-largest restaurant brand in the U.S. by system sales, according to Euromonitor data. With a 98% franchised model, Wingstop generates the lion share of its revenue from franchise royalties and advertising fees, with the remainder derived from a small footprint of company-owned stores.
In light of the recent options history for Wingstop, it's now appropriate to focus on the company itself. We aim to explore its current performance.
<h3>Current Position of Wingstop</h3>
<ul>
<li>With a volume of 262,986, the price of WING is up 3.54% at $383.0. </li>
<li>RSI indicators hint that the underlying stock may be approaching overbought.</li>
<li>Next earnings are expected to be released in 5 days.</li>
</ul>
<h3>What Analysts Are Saying About Wingstop</h3>
5 market experts have recently issued ratings for this stock, with a consensus target price of $353.4.
<ul>
<li>An analyst from Truist Securities persists with their Hold rating on Wingstop, maintaining a target price of $307. </li>
<li>An analyst from TD Cowen has revised its rating downward to Buy, adjusting the price target to $410. </li>
<li>An analyst from Jefferies has decided to maintain their Hold rating on Wingstop, which currently sits at a price target of $335. </li>
<li>Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for Wingstop, targeting a price of $400. </li>
<li>Consistent in their evaluation, an analyst from Morgan Stanley keeps a Equal-Weight rating on Wingstop with a target price of $315. </li>
</ul>
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Wingstop options trades with real-time alerts from <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a>.

WING

Wingstop's Options: A Look at What the Big Money is Thinking

Investors with a lot of money to spend have taken a bullish stance on Devon Energy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DVN#NYSE">DVN</a>).
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, <a href="https://pro.benzinga.com/?utm_source=insights">Benzinga</a>'s options scanner spotted 15 uncommon options trades for Devon Energy.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 26%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $344,668, and 10 are calls, for a total amount of $607,437.
<h3>Predicted Price Range</h3>
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $47.5 and $55.0 for Devon Energy, spanning the last three months.
<h3>Analyzing Volume &amp; Open Interest</h3>
In terms of liquidity and interest, the mean open interest for Devon Energy options trades today is 5118.3 with a total volume of 3,326.00.
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 $47.5 to $55.0 over the last 30 days.
<h3>Devon Energy Option Volume And Open Interest Over Last 30 Days</h3>
<img src="https://www.benzinga.com/files/images/story/2024/1714155373_0.png" alt="Options Call Chart" />
<h3>Biggest Options Spotted:</h3>

<table>
<thead>
<tr>
<th>Symbol</th>
<th>PUT/CALL</th>
<th>Trade Type</th>
<th>Sentiment</th>
<th>Exp. Date</th>
<th>Ask</th>
<th>Bid</th>
<th>Price</th>
<th>Strike Price</th>
<th>Total Trade Price</th>
<th>Open Interest</th>
<th style="text-align: right;">Volume</th>
</tr>
</thead>
<tbody>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$6.0</td>
<td>$5.95</td>
<td>$5.95</td>
<td>$47.50</td>
<td>$208.4K</td>
<td>6.8K</td>
<td style="text-align: right;">586</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>09/20/24</td>
<td>$5.1</td>
<td>$5.0</td>
<td>$5.0</td>
<td>$55.00</td>
<td>$128.5K</td>
<td>196</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>06/21/24</td>
<td>$5.85</td>
<td>$5.75</td>
<td>$5.85</td>
<td>$47.50</td>
<td>$119.2K</td>
<td>6.8K</td>
<td style="text-align: right;">610</td>
</tr>
<tr>
<td>DVN</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BULLISH</td>
<td>03/21/25</td>
<td>$3.7</td>
<td>$3.6</td>
<td>$3.6</td>
<td>$47.50</td>
<td>$76.7K</td>
<td>599</td>
<td style="text-align: right;">213</td>
</tr>
<tr>
<td>DVN</td>
<td>CALL</td>
<td>SWEEP</td>
<td>NEUTRAL</td>
<td>06/21/24</td>
<td>$6.0</td>
<td>$5.95</td>
<td>$5.95</td>
<td>$47.50</td>
<td>$73.2K</td>
<td>6.8K</td>
<td style="text-align: right;">610</td>
</tr>
</tbody>
</table>

<h3>About Devon Energy</h3>
Devon Energy, based in Oklahoma City, is one of the largest independent exploration and production companies in North America. The firm's asset base is spread throughout onshore North America and includes exposure to the Delaware, STACK, Eagle Ford, Powder River Basin, and Bakken plays. At year-end 2023, net production totaled roughly 658 thousand boe/d, of which oil and natural gas liquids made up roughly three-quarters of production, with natural gas accounting for the remainder.
<h3>Present Market Standing of Devon Energy</h3>
<ul>
<li>With a trading volume of 2,533,190, the price of DVN is up by 0.1%, reaching $52.66.</li>
<li>Current RSI values indicate that the stock is may be approaching overbought.</li>
<li>Next earnings report is scheduled for 5 days from now.</li>
</ul>
<h3>Professional Analyst Ratings for Devon Energy</h3>
In the last month, 5 experts released ratings on this stock with an average target price of $61.0.
<ul>
<li>Reflecting concerns, an analyst from Barclays lowers its rating to Equal-Weight with a new price target of $59.</li>
<li>An analyst from Truist Securities persists with their Buy rating on Devon Energy, maintaining a target price of $69. </li>
<li>An analyst from JP Morgan has decided to maintain their Overweight rating on Devon Energy, which currently sits at a price target of $62. </li>
<li>An analyst from Stifel persists with their Buy rating on Devon Energy, maintaining a target price of $66. </li>
<li>Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Devon Energy, targeting a price of $49. </li>
</ul>
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 <a href="https://benzinga.grsm.io/register174">Benzinga Pro</a> for real-time alerts.

Behind the Scenes of Devon Energy's Latest Options Trends

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BitMEX Co-founder Arthur Hayes is encouraging crypto investors to maintain their conviction and stay committed to the <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38463604/bitcoins-consolidation-is-the-calm-before-the-storm-veteran-trader-lark-davis-writes">ongoing bull market</a>. 
What Happened: In his latest blog post titled &#8220;<a href="https://blog.bitmex.com/left-curve/">Left Curve</a>,&#8221; Hayes urges investors not to succumb to the temptation of taking profits prematurely.
Hayes emphasizes the current macroeconomic environment, characterized by major economies debasing their currencies to deleverage government balance sheets. He sees this as the fundamental reason behind the aggressive crypto rally against fiat currencies. 
Hayes predicts that this narrative will only gain strength as the sovereign debt bubble begins to burst.
&#8220;Bull markets don&#8217;t come often; it is a travesty when you make the right call but do not maximize your profit potential,&#8221; Hayes <a href="https://blog.bitmex.com/left-curve/">writes</a>. He advocates for a &#8220;Left Curve&#8221; mentality, where investors continuously buy and hold cryptocurrencies throughout the bull market period.
In his concluding remarks, Hayes calls on &#8220;all degens&#8221; to embrace the Left Curve approach, urging investors to maintain their conviction and allow their winning investments to continue growing until real rates turn positive.
<figure class="wp-block-image size-full"><a href="https://www.benzinga.com/events/digital-assets/"><img loading="lazy" decoding="async" width="300" height="250" src="https://editorial-assets.benzinga.com/wp-content/uploads/2024/03/29155259/905735A6-57D3-4874-9AA1-75D037842DB3-2.gif" alt="Benzinga Future of Digital Assets conference" class="wp-image-270548" /></a></figure>
Also Read: <a href="https://www.benzinga.com/markets/cryptocurrency/24/04/38463604/bitcoins-consolidation-is-the-calm-before-the-storm-veteran-trader-lark-davis-writes">Bitcoin&#8217;s Consolidation Is The &#8216;Calm Before The Storm,&#8217; Veteran Trader Lark Davis Writes</a>
Why It Matters: Hayes points to the increasing institutional adoption of Bitcoin (CRYPTO: <a class="ticker" href="https://www.benzinga.com/quote/btc/usd">BTC</a>), particularly with the emergence of spot Bitcoin ETFs in the U.S., U.K. and Hong Kong. This recognition from traditional finance underscores Bitcoin&#8217;s potential as a hedge against currency debasement and negative real yields.
Bitcoin, in Hayes&#8217;s view, serves as an escape valve for investors during periods of economic uncertainty, thanks to its finite supply and resilience against currency depreciation.
Looking ahead to the 2024 U.S. presidential election, Hayes predicts further economic stimulus measures aimed at maintaining negative real yields on government bonds, further bolstering Bitcoin&#8217;s appeal as a hedge asset.
What's Next: The influence of <a href="https://www.benzinga.com/money/is-bitcoin-a-good-investment" target="_blank" rel="noreferrer noopener">Bitcoin as an institutional asset class</a> is expected to be thoroughly explored at Benzinga's upcoming <a href="https://www.benzinga.com/events/digital-assets/agenda/" target="_blank" rel="noreferrer noopener">Future of Digital Assets</a> event on Nov. 19.
Read Next: <a href="https://www.benzinga.com/analyst-ratings/analyst-color/24/04/38461105/bitcoin-could-soar-up-to-1m-says-strike-ceo-jack-mallers-violent-to-the-upside">Bitcoin Could Soar Up To $1M, Says Strike CEO Jack Mallers: &#8216;Violent To The Upside&#8217;</a>
This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
Image created using artificial intelligence with Midjourney.

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