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Income Masters Trade Alert: DVN

Oil prices continue to rise despite news that OPEC will increase output. I am recommending a put to sell on Devon Energy (DVN) — a U.S. fracker we traded successfully last month – that is roughly 7% out of the money.

I hope to roll the put up to a higher strike price for the same expiration date or close early to boost our potential rate of return.

Current Stock Price: $76.45

Action: Sell to open the DVN Jun Week Two (6/10) 71 Put for around $0.67. You can go as low as $0.57, but please don’t start there and always use limit orders.

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