Devon Energy (DVN) Offering Possible 44.51% Return Over the Next 8 Calendar Days

Devon Energy's most recent trend suggests a bullish bias. One trading opportunity on Devon Energy is a Bull Put Spread using a strike $58.00 short put and a strike $53.00 long put offers a potential 44.51% return on risk over the next 8 calendar days. Maximum profit would be generated if the Bull Put Spread were to expire worthless, which would occur if the stock were above $58.00 by expiration. The full premium credit of $1.54 would be kept by the premium seller. The risk of $3.46 would be incurred if the stock dropped below the $53.00 long put strike price.

The 5-day moving average is moving up which suggests that the short-term momentum for Devon Energy is bullish and the probability of a rise in share price is higher if the stock starts trending.

The 20-day moving average is moving up which suggests that the medium-term momentum for Devon Energy is bullish.

The RSI indicator is at 73.11 level which suggests that the stock is neither overbought nor oversold at this time.

To learn how to execute such a strategy while accounting for risk and reward in the context of smart portfolio management, and see how to trade live with a successful professional trader, view more here

LATEST NEWS for Devon Energy

CERAWeek intel: Here's what oil execs are saying about the Ukraine crisis
Wed, 09 Mar 2022 00:55:03 +0000
Ryan Lance, as the leader of one of the world’s largest independent oil and gas producers, said he supported Biden’s decision as a short-term solution to stymying Russia’s economy and influence.

Biden's Russia-Oil Ban Opens Path for Shale Giants EOG, Devon to Fill the Gap
Tue, 08 Mar 2022 20:11:16 +0000
(Bloomberg) — President Joe Biden’s ban on Russian oil imports puts new pressure on U.S. drillers to help fill a supply shortfall that has sent crude prices to the highest levels since 2008. Among them: EOG Resources Inc. and Devon Energy Corp., two shale giants that are sitting on thousands of federal drilling permits, many of which could be used to produce more oil from the prolific Permian basin.Most Read from BloombergChina Warns U.S. Over Forming Pacific NATO, Backing TaiwanBiden to Sign C

Will Soaring Crude Oil Prices Help Fuel Devon Stock?
Tue, 08 Mar 2022 15:30:17 +0000
Devon Energy has outperformed its industry peers and could generate further capital appreciation.

10 Oil and Gas Stocks to Buy According to Ken Fisher
Mon, 07 Mar 2022 14:07:33 +0000
In this article, we present the list of the 10 oil and gas stocks to buy according to Ken Fisher. You can skip our comprehensive analysis of the Russia-Ukraine war and its effect on the oil industry, and go directly to 5 Oil and Gas Stocks to Buy According to Ken Fisher . The Russia-Ukraine […]

You Could Make $48,840 in Annual Income by Buying These 10 Stocks
Sun, 06 Mar 2022 10:52:00 +0000
Let first give you the cold, hard truth. It takes money to make money. You're not going to magically receive a significant income each year without having a hefty amount of cash to invest. But the good news is that many Americans who have consistently saved and invested throughout their careers can retire with $1 million or more.

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