Let’s book profits on our Devon Energy (DVN) put now rather than risk a potential late-day reversal.
Current Stock Price: $52.25
Cash in Hand: $0.45
Action: Buy to close the DVN Jul Monthly (7/15) 50 Put
Current Option Price: $0.07-$0.09
Recommended Limit: Set your initial limit order at $0.08, but adjust as needed to close today
Profit: $0.37, or $37 per contract
Rate of Return: 0.7% in eight days, or 34% on an annualized basis