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Hawk’s Nest

Energy Name Sees Call Buys After Correction to 200 Day

by | Jun 28, 2022

Devon Energy (DVN) saw a size buyer 2000 October $50 calls up to $12.80 as the stock bounced back to the 8 EMA and held the 200 day EMA last week on the pullback. The stock has had a strong run this year with Natural Gas breaking out but the trend is still in tact longer term and this call buyer is confident in support holding with the deep ITM call buy. DVN cleared 5 year highs earlier this year and has short term resistance at 63 and 65 but above that could retest the old high if recent lows hold into summer.