Let’s book fast profits on our Devon Energy (DVN) put, earning an excellent annualized rate of return.
Current Stock Price: $68.22
Cash in Hand: $0.52
Action: Buy to close the DVN Dec Week One (12/2) 65 Put
Current Option Price: $0.18-$0.21
Recommended Limit: Set your initial limit order at $0.19, but adjust as needed to close today
Profit: $0.33, or $33 per contract
Rate of Return: 0.5% in two days, or 93% on an annualized basis