Looking At Devon Energy's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
Unusual options activity has been observed for Devon Energy (NYSE:DVN), with a bearish stance taken by a large investor. Benzinga's options scanner spotted 10 options trades, with 90% being bearish. Whales have been targeting a price range of $40 to $70 for Devon Energy over the last 3 months.
May 30, 2023 | 2:30 pm
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NEGATIVE IMPACT
A large investor has taken a bearish stance on Devon Energy (NYSE:DVN) with unusual options activity. 90% of the observed trades are bearish, targeting a price range of $40 to $70.
The unusual options activity indicates that a large investor is taking a bearish stance on Devon Energy, which could lead to a short-term negative impact on the stock price. With 90% of the observed trades being bearish, it suggests that the investor expects the stock price to decline, targeting a price range of $40 to $70.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100