A whale with a lot of money to spend has taken a noticeably bullish stance on Devon Energy.
Looking at options history for Devon Energy (NYSE:DVN) we detected 15 strange trades.
If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 46% with bearish.
From the overall spotted trades, 4 are puts, for a total amount of $172,030 and 11, calls, for a total amount of $1,081,274.
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 $45.0 to $80.0 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 5383.0 with a total volume of 3,455.00.
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 $45.0 to $80.0 over the last 30 days.
Devon Energy Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DVN | CALL | TRADE | BULLISH | 01/20/23 | $80.00 | $367.2K | 3.7K | 513 |
| DVN | CALL | TRADE | BULLISH | 01/20/23 | $45.00 | $240.1K | 1.1K | 100 |
| DVN | CALL | SWEEP | BEARISH | 05/20/22 | $60.00 | $200.0K | 4.5K | 268 |
| DVN | PUT | TRADE | BEARISH | 05/13/22 | $69.00 | $80.0K | 171 | 300 |
| DVN | CALL | TRADE | BULLISH | 07/15/22 | $70.00 | $50.0K | 31.3K | 513 |
Where Is Devon Energy Standing Right Now?
- With a volume of 1,445,598, the price of DVN is up 5.37% at $67.19.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 83 days.
What The Experts Say On Devon Energy:
- Raymond James has decided to maintain their Strong Buy rating on Devon Energy, which currently sits at a price target of $90.
- Raymond James has decided to maintain their Strong Buy rating on Devon Energy, which currently sits at a price target of $85.
- Morgan Stanley has decided to maintain their Equal-Weight rating on Devon Energy, which currently sits at a price target of $68.
- RBC Capital has decided to maintain their Sector Perform rating on Devon Energy, which currently sits at a price target of $70.
- Credit Suisse has decided to maintain their Outperform rating on Devon Energy, which currently sits at a price target of $75.
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.
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