Ticker Options Intelligence

DVN options intelligence

Devon Energy Corporation options pressure, expected move, strike concentration, and Sharemaestro trend context.

Conviction 42 Market data through 31 Jul 2026 Checked 1 Aug 2026 12:19 · complete available chain

Call-side pressure

Bullish pressure

DVN currently carries bullish options pressure with a 42/100 conviction score. The nearest-chain expected move is 5.5%, with volume/open-interest participation at 0.02.

Options Intelligence Opportunities Bullish confirmation Risks Unusual flow Vol expansion Repeated pressure Compare Chart Weekly report
Primary read Bullish

Call-side pressure

Expected move 5.5%

Near-term move context

Activity / OI 0.02

Current volume is quieter versus prior open interest

Put-call 0.32

Call-side skew

Trend fit 10

Options are not fully confirming trend

Weekly backdrop +0.2%

RS 3.9

Expected move 5.5%
Put-call volume 0.32
Volume / OI 0.02
Reference IV 0.50
Max pain 44.00
Underlying 45.04
Nearest expiry 7 Aug 2026
Contracts 728

Research Brief

DVN has a bullish chain read with 42/100 evidence alignment.

The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 42.58–47.50; The largest call open-interest concentration is 50.00; the largest put concentration is 40.50. The most active strike by current volume is 45.00.

Priced range42.58–47.50
Call concentration50.00
Put concentration40.50
Max pain reference44.00
What would confirm it
  • Price holds or improves while call-side concentration remains elevated.
What would weaken it
  • Price weakens while call pressure fades or reverses toward puts.
  • Options and the weekly trend are not yet giving the same message.
  • Front-expiry volatility is rich, so the signal may be event-driven and vulnerable to volatility compression.

Priced Move

Where the chain says movement becomes exceptional

Size, not direction · through 7 Aug

Options imply 42.58 to 47.50. Max pain at 44.00 sits inside that range, 2.3% below spot.

Spot Max pain
42.5845.04 ± 2.4647.50
Confirmation level

A close beyond 47.50 or below 42.58 at the 7 Aug expiry would exceed the move currently priced by this chain.

Important limitation

The range is a pricing reference, not a forecast; volatility can reprice sharply after news or as expiry approaches.

Score Construction

Why conviction is 42/100

Evidence alignment, not probability

Pressure is 58/100 toward calls; conviction uses its strength, while the signal label carries its direction.

Directional pressure58 × 42%
+24.5

How strongly activity leans toward calls or puts.

Participation41 × 22%
+8.9

Volume relative to existing open interest and contract-level activity.

Trend agreement10 × 26%
+2.6

How closely the chain read agrees with the underlying trend backdrop.

Volatility57 × 10%
+5.7

The intensity of implied volatility and the priced move.

Reconstructed score41.7Matches stored calculation

Positioning by Strike

Where open interest and current activity concentrate

Full strike map

The largest call open-interest concentration is 50.00; the largest put concentration is 40.50. The most active strike by current volume is 45.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.

Put open interestStrikeCall open interest
496
40.00-11.2%
60
529
40.50-10.1%
2
528
41.00-9.0%
145
279
42.00-6.7%
546
370
42.50-5.6%
1
492
43.00-4.5%
314
35
43.50-3.4%
213
281
44.00-2.3%
1108
67
44.50-1.2%
298
280
45.00-0.1%
676
15
45.501.0%
218
186
46.002.1%
1143
0
46.503.2%
134
5
47.004.4%
1740
235
48.006.6%
2950
100
49.008.8%
402
190
50.0011.0%
3186
Nearest spot strike Max pain strikeBars show relative OI within this expiry

Volatility Curve

Front-loaded volatility

1.31× front/back

Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.

0.50 7 Aug 7d
0.45 14 Aug 14d
0.43 21 Aug 21d
0.41 28 Aug 28d
0.41 4 Sep 35d
0.41 11 Sep 42d
0.41 18 Sep 49d
0.39 16 Oct 77d

Volatility by Strike

Balanced wings

Nearest expiry, within 20% of spot

Comparable upside calls and downside puts carry broadly similar implied volatility.

37
38
39
40
41
41
42
43
44
44
45
46
46
47
48
49
49
50
51
53
54
Put IV Call IV

Historical Replay

How matured reads behaved through expiry

0 directional observations

Forward validation is building. The earliest eligible stored read expires 31 Jul 2026; its result will appear after the matched closing reference is stored.

Directional follow-through-
Moves contained by pricing-
Average expiry move-
Validation readiness
  • Versioned calculationv2 observations only
  • Independent entryone read per market session
  • Point-in-time referencerequired at entry
  • Matched expiry closereported only after maturity

Only v2 snapshots with a point-in-time market reference are eligible. Each observation uses one read per market session and the first weekly close on or immediately after expiry. It is an evidence audit, not an executable strategy or evidence of future performance.

Evidence Quality

High

A100/100
Retained chain100%
Implied volatility100%
Two-sided quotes100%
Open interest100%
Chain status
Complete available chain
Market date
31 Jul 2026
Calculation
v2.0
Contracts
728 / 728
  • No material coverage gap was detected in the retained chain.

Aggregate chain data supports concentration, participation and pricing analysis. It does not identify trade aggressor, opening versus closing activity, multi-leg intent or dealer inventory.

Options Intent Radar

Earnings/event positioning

80/100
Primary intent Earnings/event positioning

Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.

Flow vs price divergence Bullish flow before price confirmation

Call-side pressure is building before a meaningful weekly price response.

Why this matters

Earnings/event positioning matters because it connects the options headline to the actual evidence: $1.9M of estimated gross traded notional, calls · 91+ days · itm, and a bullish flow before price confirmation backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.

Options pressure+58
1W price+0.2%
Call premium82%
Put premium18%
Notional split C 82% / P 18% Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness 0.02 Volume divided by open interest across the visible chain.
Trend fit 10/100 Agreement between options pressure and Sharemaestro market context.
Event window 4 Aug Matched earnings event is 3 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Conviction clusters Calls · 91+ days · ITM
Calls · 91+ days · ITM calls cluster with 228 contracts traded, $272930 estimated gross traded notional, and 14% of visible notional.
$272930
Calls · 91+ days · OTM calls cluster with 684 contracts traded, $237326 estimated gross traded notional, and 12% of visible notional.
$237326
Calls · 8-21 days · OTM calls cluster with 3511 contracts traded, $228665 estimated gross traded notional, and 12% of visible notional.
$228665
Calls · 0-7 days · ATM calls cluster with 1221 contracts traded, $155034 estimated gross traded notional, and 8% of visible notional.
$155034
Calls · 46-90 days · ATM calls cluster with 542 contracts traded, $153497 estimated gross traded notional, and 8% of visible notional.
$153497

Setup Classification

Opportunity and risk frame

Context, not advice
Warning Volatility expansion

The tape is pricing or displaying unusually elevated activity.

Warning Event-risk setup

Expected move or upcoming earnings makes the setup more event-sensitive.

Negative Options disagreement

Options positioning is not confirming the underlying trend context.

Warning Crowded strike risk

Underlying price is close to the max-pain zone.

Activity Anomaly

Warming up

-

3 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.

Baseline: 3 completed sessions

Volume rank-
Volume/OI rank-
IV rank-

Market Context

Underlying confirmation

Sharemaestro weekly
Close45.13
1W+0.2%
RS3.9
Fair value+14.5%
Options pressure58
Speculation41
Volatility57
Trend fit10

Today Versus Normal

Stored-options context

View history
Expected move 5.5% history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
IV 0.50 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Put-call 0.32 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -
Volume/OI 0.02 history building
30d avg - · 3/10 sessions -
90d avg - · 3/30 sessions -
180d avg - · 3/60 sessions -

Pressure Trail

Recent pressure and volatility

Open trail
29 Jul 10:08 Bullish
Pressure 61
Move 5.6%
30 Jul 10:05 Bullish
Pressure 28
Move 3.1%
31 Jul 10:02 Bullish
Pressure 69
Move 2.7%
1 Aug 11:19 Bullish
Pressure 58
Move 5.5%

Strike Map

Where activity is clustering

Full strike map
Strike25.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike30.00
Calls · V 0 · OI 0
Puts · V 0 · OI 30
Strike31.00
Calls · V 0 · OI 0
Puts · V 0 · OI 1
Strike32.00
Calls · V 0 · OI 1
Puts · V 0 · OI 2
Strike33.00
Calls · V 0 · OI 0
Puts · V 0 · OI 0
Strike34.00
Calls · V 0 · OI 0
Puts · V 0 · OI 2
Strike35.00
Calls · V 0 · OI 0
Puts · V 0 · OI 8
Strike36.00
Calls · V 0 · OI 0
Puts · V 0 · OI 14

Term Structure

Expiration activity

Volume and IV
Expiry7 Aug 2026
Contracts82
Avg IV0.50
Put-call0.54
Expiry14 Aug 2026
Contracts84
Avg IV0.45
Put-call0.21
Expiry21 Aug 2026
Contracts86
Avg IV0.43
Put-call0.28
Expiry28 Aug 2026
Contracts54
Avg IV0.41
Put-call0.15
Expiry4 Sep 2026
Contracts48
Avg IV0.41
Put-call0.07

Skew

Call/put IV balance

OTM demand
7 Aug 2026Balanced skew
Call IV0.49
Put IV0.50
Skew0.01
14 Aug 2026Balanced skew
Call IV0.44
Put IV0.44
Skew-
21 Aug 2026Balanced skew
Call IV0.43
Put IV0.43
Skew-
28 Aug 2026Balanced skew
Call IV0.41
Put IV0.41
Skew-
4 Sep 2026Balanced skew
Call IV0.40
Put IV0.41
Skew0.02

Contract Tape

Most active contracts

Full contract tape
ContractDVN260821C00050000
SideCall
Expiry21 Aug 2026
Strike50.00
Volume1582
OI15121
IV0.43
ContractDVN260814C00047000
SideCall
Expiry14 Aug 2026
Strike47.00
Volume1134
OI199
IV0.43
ContractDVN260918C00047500
SideCall
Expiry18 Sep 2026
Strike47.50
Volume608
OI49404
IV0.39
ContractDVN260807C00045000
SideCall
Expiry7 Aug 2026
Strike45.00
Volume489
OI676
IV0.49
ContractDVN260918P00045000
SidePut
Expiry18 Sep 2026
Strike45.00
Volume441
OI6470
IV0.42
ContractDVN260918C00045000
SideCall
Expiry18 Sep 2026
Strike45.00
Volume438
OI6125
IV0.39
ContractDVN260828C00045000
SideCall
Expiry28 Aug 2026
Strike45.00
Volume401
OI455
IV0.41
ContractDVN260807C00046500
SideCall
Expiry7 Aug 2026
Strike46.50
Volume350
OI134
IV0.50