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Deep-pocketed investors have adopted a bullish approach towards Devon Energy (NYSE:DVN), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DVN usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 11 extraordinary options activities for Devon Energy. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 54% leaning bullish and 45% bearish. Among these notable options, 3 are puts, totaling $93,772, and 8 are calls, amounting to $398,033.
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $40.0 and $55.0 for Devon Energy, spanning the last three months.
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Devon Energy's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Devon Energy's significant trades, within a strike price range of $40.0 to $55.0, over the past month.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DVN | CALL | TRADE | BEARISH | 06/20/25 | $3.0 | $2.95 | $2.95 | $55.00 | $117.7K | 2.1K | 501 |
| DVN | CALL | TRADE | BULLISH | 01/16/26 | $6.35 | $6.15 | $6.35 | $50.00 | $84.4K | 1.5K | 185 |
| DVN | CALL | TRADE | BULLISH | 01/16/26 | $12.95 | $9.0 | $11.5 | $40.00 | $46.0K | 290 | 0 |
| DVN | PUT | SWEEP | BEARISH | 09/20/24 | $1.79 | $1.75 | $1.79 | $45.00 | $36.3K | 1.6K | 589 |
| DVN | CALL | TRADE | BEARISH | 10/18/24 | $2.82 | $2.79 | $2.79 | $47.50 | $32.3K | 1.2K | 423 |
Devon Energy is an oil and gas producer with acreage in several top US shale plays. While roughly two thirds of its production comes from the Permian Basin, it also holds a meaningful presence in the Anadarko, Eagle Ford, and Bakken basins. At the end of 2023, Devon reported net proved reserves of 1.8 billion barrels of oil equivalent. Net production averaged roughly 658,000 barrels of oil equivalent per day in 2023 at a ratio of 73% oil and natural gas liquids and 27% natural gas.
After a thorough review of the options trading surrounding Devon Energy, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
5 market experts have recently issued ratings for this stock, with a consensus target price of $60.6.
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 Benzinga Pro for real-time alerts.
Posted In: DVN
