Trade Ideas
UOA PRO New Trade Idea DVN 7-20
5,900 07August 50 calls bought in mostly one/two orders for 0.21 to 0.25 above open interest of 4,287 contracts. Stock 43.48-43.77.
New Trade Idea
Ticker: DVN
Stock: 43.65
Trigger: 44.46
Expiration Date: 07AUG
UOA: 5,900 07August 50 calls bought in mostly one/two orders for 0.21 to 0.25 above open interest of 4,287 contracts. Stock 43.48-43.77.
DVN $43.74 Last.
Sizeable 2 week out OTM call buy that’s fairly far given DVN’s volatility, or put another way, these are 10 delta calls. However, XLE is still trying to lift, EPS are about 2 weeks away and the stock may have flushed out players below the 200 SMA about 2 weeks ago and since reversed.
Trigger: $44.46, 50 SMA currently.
Strategy 1: Consider the DVN 07Aug. 45.00 calls for $1.50 projected at trigger level today.
Targets: 44.84, 45.55, 45.97 (100 SMA currently), 46.44, 47.45