As the natural gas Oct. 22 futures retreated from record highs of $9.98 per cubic foot to $8.27 per cubic foot, the SPDR Energy Select Sector Fund (ARCA: XLE) fell by .80%.
Benzinga's options scanner just detected over 12 options trades for Devon Energy (NYSE:DVN) summing a total amount of $1,678,065.
At the same time, our algo caught 3 for a total amount of 96,375.
Devon Energy's (NYSE:DVN) short percent of float has risen 44.39% since its last report. The company recently reported that it has 17.02 million shares sold short, which is 2.96% of all regular shares that are available for trading.
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.
Devon Energy (NYSE:DVN) has outperformed the market over the past 5 years by 8.05% on an annualized basis producing an average annual return of 18.35%. Currently, Devon Energy has a market capitalization of $48.81 billion.
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.
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.
Understanding Value Stocks
A value stock is traditionally defined in terms of how investors in the marketplace are valuing that company's future growth prospects. Low P/E multiples are good base indicators that the company is undervalued and can most likely be labelled as a value stock.