Trading Options with an Edge
Select Page

Option Traders’ Favorite Energy Name Triggering Breakout

Option Traders’ Favorite Energy Name Triggering Breakout

by | Aug 11, 2021 | Open Interest Alerts

Devon Energy (DVN) shares starting to trigger a base breakout today and running into VWAP off the highs and the 55-day moving average but looks ready for a continuation of the trend higher. DVN has been a preferred bullish target for option traders the last few months, still has 12,000 October $30/$35 call spreads in OI, over 30,000 January $28 calls bought, recent buys of 5000 August $25 calls into weakness and opening sales of 3500 October $26 puts.