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Devon Energy Whale Trades Spotted

Someone with a lot of money to spend has taken a bearish 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 · 06/09/2022 12:12

Someone with a lot of money to spend has taken a bearish 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.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 16 uncommon options trades for Devon Energy.

This isn't normal.

The overall sentiment of these big-money traders is split between 31% bullish and 68%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $117,855, and 12 are calls, for a total amount of $1,108,963.

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 $3.0 to $95.0 for Devon Energy over the last 3 months.

Volume & Open Interest Development

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 $3.0 to $95.0 in 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 TRADE NEUTRAL 01/20/23 $45.00 $398.5K 1.2K 123
DVN CALL TRADE NEUTRAL 01/20/23 $50.00 $213.2K 2.5K 75
DVN CALL SWEEP BEARISH 10/21/22 $75.00 $79.6K 4.0K 110
DVN CALL TRADE NEUTRAL 01/20/23 $47.00 $77.9K 272 25
DVN CALL TRADE BULLISH 01/20/23 $3.00 $75.2K 7 10

Where Is Devon Energy Standing Right Now?

  • With a volume of 4,205,164, the price of DVN is down -0.19% at $77.78.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 54 days.

What The Experts Say On Devon Energy:

  • Mizuho has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $92.
  • Raymond James has decided to maintain their Strong Buy rating on Devon Energy, which currently sits at a price target of $102.
  • Stifel has decided to maintain their Buy rating on Devon Energy, which currently sits at a price target of $93.
  • Barclays downgraded its action to Equal-Weight with a price target of $73
  • Piper Sandler has decided to maintain their Overweight rating on Devon Energy, which currently sits at a price target of $94.

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.