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Check Out What Whales Are Doing With DVN

Someone with a lot of money to spend has taken a bullish stance on Devon Energy (NYSE: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.

Benzinga · 12/29/2021 14:22

Someone with a lot of money to spend has taken a bullish stance on Devon Energy (NYSE: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.

Today, Benzinga's options scanner spotted 39 options trades for Devon Energy.

This isn't normal.

The overall sentiment of these big-money traders is split between 76% bullish and 23%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $81,450, and 38, calls, for a total amount of $2,491,219..

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 $14.74 to $55.0 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 522.57 with a total volume of 172,342.00.

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 $14.74 to $55.0 over the last 30 days.

Devon Energy Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
DVN CALL SWEEP BULLISH 04/14/22 $49.00 $194.6K 302 0
DVN CALL SWEEP BULLISH 04/14/22 $49.00 $132.2K 302 1.8K
DVN CALL SWEEP BULLISH 04/14/22 $49.00 $116.8K 302 3.0K
DVN CALL SWEEP BULLISH 04/14/22 $49.00 $106.7K 302 2.3K
DVN CALL SWEEP BULLISH 04/14/22 $49.00 $103.2K 302 1.2K

Where Is Devon Energy Standing Right Now?

  • With a volume of 4,682,924, the price of DVN is up 0.09% at $44.54.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 48 days.

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 are already an options trader or would like to get started, head on over to Benzinga Pro. Benzinga Pro gives you up-to-date news and analytics to empower your investing and trading strategy.