Devon Energy (DVN) is down $1.43 to $61.14 on a tough day for the energy names. Crude oil slipped $3.14 to $69.60 a barrel. One strategist appears to be taking the contrary view of today’s action: bought 10K Jan11 70 – 100 call spreads for $6.18.
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Devon Energy Corp (DVN) $61.14 -2.29%
Posted on August 31st, 2009 3:31 pm
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2 users commented on " Devon Energy Corp (DVN) $61.14 -2.29% "
Follow-up comment rss or Leave a TrackbackDVN is a natural gas play and 2011 is definitely a long term view here. Someone’s willing to pay up and rest at the beach for the next coupla years. Nice!
interesting i’m taking the contrary as well….with common stock and 2010 calls on some gas plays.
Here’s hoping nattie doesn’t trade down to 2!!!
yikes…..
not my entire portfolio, but in some small/mid caps for DEC/JAN 2010 timeframe myself