DVNDevon Energy Corporation
Options Analysis Report•CRUDE PETROLEUM & NATURAL GAS
Market Cap $54.5B|NYSE
● 2026-05-15$47.24
BULLISH
Analysis: 2026-05-14 EOD data
1Y +41.4%YTD +24.7%7D +3.6%
Options Vol
26,631
30D
Implied Move
±10.7%
IV Rank
40%
DVN Options Overview
bullish flow. No clear edge detected.
REWARDS
RISK ANALYSIS
Loading score history...
Value
Is IV priced right?
5.4
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks6/9 checks passed
IV Rank
≤35%IV Rank 64.3% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.88x — IV ≤ HV
Sector Relative≤50%
Sector percentile 73% — above sector median
Term Structure
<1.1xFront/Back 1.02x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 39.1% — normal range
Spread-Adjusted Value
<80%Effective IV 56.8% (ATM 39.1% + spread 8.8% + bias) — good value
Execution Efficiency
<3.0%Total drag 13.13% (spread 8.83% + slippage 4.30%) — high friction
Vega Efficiency
≥5.0Vega efficiency 21.47 (vega 18.962 / spread 8.83%) — efficient
Sentiment
Bullish or bearish?
7.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +35%, Raw: +28%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +35% (strong bullish) — Raw: +28%
OI Skew Magnitude
≥15%|OI skew| 48.2% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +59.8%, OI skew +48.2% — aligned
Conviction Quality
≥2/3 conditions0-DTE 14%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -2%, ATM: +15%, OTM: +32% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 27% — very bullish vs sector
Activity
Unusual activity?
4.6
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks4/9 checks passed
Volume Surge
≥1.5xVolume 0.5x avg — normal
Turnover Rate
≥15%Vol/OI 4.4% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +5.5% (5d) — building
Sector Relative≥60%
Sector activity percentile 68% — active vs sector
Trade Quality
≥30%Large trade volume 45% — institutional presence
Execution Urgency
≥60%Aggressive execution 41% — patient
Flow Conviction
≥30Conviction +35 (bullish) — moderate
Liquidity
Can I trade efficiently?
4.7
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 8.8% — wide
Adequate OI
≥10,000OI 609,638 — deep
Active Volume
≥500Volume 26,631/day — active
Reasonable Cost
≤$0.50$0.44 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 73% — wider than sector
Order Book Depth
≥100 contractsDepth 436.6 contracts (bid:222.1 ask:214.5) — adequate
Execution Quality
<1.0%Avg slippage 4.30% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +1.8% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 64% — neutral
Event Detection
≥10pts kinkIV kink 1.3pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1805.86 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +35% @ 68% consistency — moderate (bullish)
Smart Money Timing
≥40 composite scoreScore 75 (ITM 20% + inst 45%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.4
bullishIV fair, bullish flow
Long Puts4.5
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put5.7
bullishIV fair, bullish flow
Covered Call4.2
bearishIV fair, bullish flow
For educational purposes only. Not investment advice.