Let’s book fast profits on our Devon Energy (DVN) put, earning a 0.4% return in three days, or 45% annualized, and freeing up capital for new trades.
Current Stock Price: $64.92
Cash in Hand: $0.53
Action: Buy to close the DVN Dec Week Two (12/9) 62 Put for around $0.30, but adjust as needed to close today
Profit: $0.23, or $23 per contract