Jul. 15 at 12:54 AM
$DVN saw some aggressive short-dated call sweeps today
We're talking nearly 15k contracts, mostly in the 7/17
$43.5 calls
Volume there hit around 9k, blowing past prior open interest
Looks like traders are betting on a near-term upside, especially with that capital return framework update
But keep an eye on that
$43 to
$44 zone
Holding above it is key if you're leaning bullish
Also, don't forget there's an October put hedge in play, so some caution is warranted beyond the short term
Expect some headline-driven moves as the market digests the news
Tight risk management is crucial here
