Playing The Downside On One Oil Stock. Devon Energy Corporation.

Did this stock get dragged up to high to quickly on the Friday just past? Read my most recent blog about five oil stocks that all enjoyed a one day surge. Can you see the jump it had on Friday. Here is a look at one series of Puts on a stock called Devon Energy which will be expiring at the end of this week. On Friday it was the lowest priced stock of this group of five we looked at. Might it give back some of it's Friday gains. To catch this action one would have to be buying in on the close just prior to the closing bell on Friday afternoon. One would at that time be purchasing this weeks options which are buying you five days of trading action. Could these $.60 Puts go up to $.90 in the first few hours of trading? That could be a good way to start the week. At 9:27 a.m. in the premarkets it is still trading off a touch. The drop didn't happen on the opening. Notice how wide the spread is between the bid and ask? In contrast, look at the more reasonable current spead is ...