Long Call Butterflies for Pinning
Call Butterfly32 trades pass on DVN
- Return on risk
- 106.2% to 1,000%+
- Probability of profit
- 9.2% to 72.9%
Devon Energy Corp · Energy
In the app, stock prices are live and options data is refreshed intraday.
DVN last closed at $46.58 with 30-day implied volatility of 36.9%. That is in the lower half of its one-year range (IV rank 43), so premiums are on the modest side for DVN. Measured by IV percentile, IV is higher than 39% of the past year's readings. Options expiring Dec 11 (28 days out) price a one standard deviation move of about $4.74, or 10.2%.
The price is above its 200-day moving average (+0.8%) but below its 50-day (-3.5%), a pullback inside a longer uptrend. It is 10.7% below its 52-week high and 35.1% above its 52-week low. The 14-day RSI of 47.6 is between 30 and 70, neither overbought nor oversold. The 14-day average true range is $1.67, about 3.6% of the price, a measure of a typical day's range.
Option volume at the close (29.3K contracts) was 1.2x its average, close to normal. A negative beta of -0.58 means DVN has tended to move against the broad market. 3 of our preset screens found trades on DVN at the close, led by Long Call Butterflies for Pinning with 32 trades.
Expected move = price x at-the-money IV x the square root of (days to expiration / 365), a one standard deviation range. The straddle is the at-the-money call plus put, the market's own price for a move. Compare expected moves across stocks.
| Expiration | IV | Expected move | 1 SD range | Straddle |
|---|---|---|---|---|
| Nov 20, 20267 days | 37.2% | ±$2.40 (5.2%) | $44.18 to $48.98 | $1.92 |
| Dec 11, 202628 days | 36.8% | ±$4.74 (10.2%) | $41.84 to $51.32 | $3.80 |
| Jan 15, 202763 days | 36.3% | ±$7.02 (15.1%) | $39.56 to $53.60 | $5.65 |
| Feb 19, 202798 days | 35.0% | ±$8.45 (18.1%) | $38.13 to $55.03 | $6.76 |
Each expiration has its own implied volatility, and short-dated IV reacts more to near-term events, so the nearest expiration can differ a lot from the 30-day figure.
Counts and ranges for DVN from our preset scans at the last close. Open a preset in the app to see each trade with its strikes, prices, and risk, refreshed intraday. Income strategies show annualized return; the rest show return on risk.
32 trades pass on DVN
5 trades pass on DVN
3 trades pass on DVN
Market data as of the prior close, for information and education only. Not investment advice. Options involve substantial risk and are not suitable for every investor. See our Terms of Service.