Someone with a lot of money to spend has taken a bullish stance on Devon Energy 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 46 uncommon options trades for Devon Energy.

This isn't normal.

The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.

Out of all of the special options we uncovered, 12 are puts, for a total amount of $873,137, and 34 are calls, for a total amount of $3,414,214.

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $40.0 to $105.0 for Devon Energy over the last 3 months.

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 $40.0 to $105.0 in the last 30 days.

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume DVN CALL SWEEP BULLISH 04/21/23 $85.00 $692.9K 667 2.1K DVN CALL SWEEP BEARISH 04/21/23 $85.00 $439.2K 667 61 DVN CALL TRADE BEARISH 01/20/23 $80.00 $295.0K 15.8K 1.1K DVN CALL SWEEP BEARISH 04/21/23 $85.00 $229.1K 667 1.0K DVN PUT SWEEP BEARISH 04/21/23 $90.00 $206.1K 25 100

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.

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