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OIB Trade Alert: DVN

Let’s try this again!

We rolled our Devon Energy (DVN) put last week to avoid assignment.

We can close the position now with a nice profit, exceeding our 26% annualized rate of return goal. Given this is a volatile stock tied to the price of oil, I am recommending we do so.

Current Stock Price: $60.03

Cash in Hand: $1.36

Action: Buy to close the DVN Aug Monthly (8/19) 57 Put

Current Option Price: $0.95-$1

Recommended Limit: Set your initial limit order at $0.98, but adjust as needed to close today

Profit: $0.38, or $38 per contract

Rate of Return: 0.7% in eight days, or 30% on an annualized basis

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