This is definitely the kind of market where you want to take the money and run, so let’s book fast profits on our Devon Energy (DVN) put.
Current Stock Price: $72.17
Cash in Hand: $0.53
Action: Buy to close the DVN Sep Monthly (9/16) 67 Put
Current Option Price: $0.12-$0.14
Recommended Limit: Set your initial limit order at $0.13, but adjust as needed to close today
Profit: $0.40, or $40 per contract
Rate of Return: 0.6% in two days, or 109% on an annualized basis