A high trading volume indicates high buying pressure if the stock is moving higher, or high selling pressure if the stock is moving lower.
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Oil prices have dipped below $100 for the first time since mid-March, causing stocks associated with the sector to fall.
Brent crude oil fell 4.36% to $98.30, while WTI (West Texas Intermediary) fell 4.22% to $94.11. Crude prices have been on an unprecedented rally since February, when Russia invaded Ukraine, pushing prices to levels unseen since 2014.
Someone with a lot of money to spend has taken a bearish stance on Devon Energy (NYSE: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.
Devon Energy Corporation's (NYSE:DVN) short percent of float has fallen 8.15% since its last report. The company recently reported that it has 15.59 million shares sold short, which is 2.48% of all regular shares that are available for trading.
Someone with a lot of money to spend has taken a bullish stance on Devon Energy (NYSE: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.
This whale alert can help traders discover the next big trading opportunities.
Whales are entities with large sums of money and we track their transactions here at Benzinga on our options activity scanner.