Energy stocks are running up. Let’s pocket profits on our Devon Energy (DVN) and Valero (VLO) puts.
DVN Jul Week One (7/1) 55 Put
Current Stock Price: $59.87
Cash in Hand: $0.77
Action: Buy to close the DVN Jul Week One (7/1) 55 Put for around $0.24, but adjust as needed to close today
Profit: $0.53, or $53 per contract
VLO Jul Week One (7/1) 105 Put
Current Stock Price: $117.65
Cash in Hand: $1.17
Action: Buy to close the VLO Jul Week One (7/1) 105 Put for around $0.20, but adjust as needed to close today
Profit: $0.97, or $97 per contract