Devon Energy Corp. (NYSE: DVN) is an energy company engaged in oil and gas exploration, production and property acquisitions. DVN is recently up $1.08 to $82.87 on unconfirmed and renewed takeover chatter. WTI Crude oil futures are up 1.89% to $81.79, according to Bloomberg. DVN call option volume of 11,277 contracts compares to put volume of 508 contracts. DVN October option implied volatility of 31 is near its 26-week average of 30 according to Track Data, suggesting non-directional price fluctuations.
Gentex Corp. (NASDAQ: GNTX), a designer, developer, manufacturer and marketer of products employing electro-optic technology, is recently up 38 cents to $21.25 on unconfirmed buyout chatter. GNTX has a market cap of $3 billion with zero long term debt. Soleil said on September 7, "GNTX's cash hoard of $521 million or $3.63 per share can be used to pay dividends, repurchase shares, and reinvest in the business." GNTX October 22.5 calls have traded 37 times on transaction volume of 1,281 contracts above its open interest of 43 contracts. GNTX October option implied volatility of 43 is above its 26-week average of 33 according to Track Data, suggesting larger risk.
Daily options Update is provided by Stock Specialist Paul Foster of theflyonthewall.com.
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