High-rolling investors have positioned themselves bullish on Devon Energy (NYSE:DVN), and it’s important for retail traders to take note.
\This activity came to our attention today through Benzinga’s tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in DVN often signals that someone has privileged information.
Today, Benzinga’s options scanner spotted 11 options trades for Devon Energy. This is not a typical pattern.
The sentiment among these major traders is split, with 63% bullish and 27% bearish. Among all the options we identified, there was one put, amounting to $30,975, and 10 calls, totaling $1,460,627.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $35.0 to $42.5 for Devon Energy during the past quarter.
Analyzing Volume & Open Interest
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 Devon Energy’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 Devon Energy’s whale activity within a strike price range from $35.0 to $42.5 in the last 30 days.
Devon Energy Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
About Devon Energy
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
Devon Energy’s Current Market Status
- Trading volume stands at 2,555,391, with DVN’s price up by 2.99%, positioned at $41.99.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 13 days.
Professional Analyst Ratings for Devon Energy
5 market experts have recently issued ratings for this stock, with a consensus target price of $44.8.
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.
