|No Recent Quote currently available|
My Portfolio Tracker
One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts. Set yours up today.
Jan 14, 2013 (Marketintelligencecenter.com via COMTEX) -- Devon Energy Corp (NYSE:DVN) closed Friday's trading session at $54.26. In the past year, the stock has hit a 52-week low of $50.89 and 52-week high of $76.34. Devon Energy (DVN) stock has been showing support around $53.17 and resistance in the $54.81 range. Technical indicators for the stock are Bullish and S&P gives Devon Energy (DVN) a positive 4 STARS (out of 5) buy rating. For a hedged play on Devon Energy (DVN), look at the Apr '13 $52.50 covered call for a net debit in the $50.76 area. That is also the break-even stock price for this trade. This covered call has a duration of 96 days, provides 6.45% downside protection and an assigned return rate of 3.43% for an annualized return rate of 13.03% (for comparison purposes only). A lower-cost hedged play for Devon Energy (DVN) would use a longer term call option in place of the covered call stock purchase. To use this strategy look at going long the Devon Energy (DVN) Jan '14 $32.50 call and selling the Apr '13 $52.50 call for a total debit of $18.50. The trade has a lifespan of 96 days and would provide 6.01% downside protection and an assigned return rate of 8.11% for an annualized return rate of 31% (for comparison purposes only). Devon Energy (DVN) has a current annual dividend yield of 1.50%.
(C) Copyright 2013, Marketintelligencecenter.com. All rights reserved.
As of Thursday, 01-10-2013 23:59, the latest Comtex SmarTrendA? Alert,
an automated pattern recognition system, indicated a DOWNTREND on
05-04-2012 for DVN @ $65.13.
For more information on SmarTrend, contact your market data
provider or go to www.mysmartrend.com
SmarTrend is a registered trademark of Comtex News Network, Inc.
Copyright A? 2004-2013 Comtex News Network, Inc. All rights reserved.
Zacks Research is Reported On:
Zacks Investment Research
is an A+ Rated BBB
Copyright 2013 Zacks Investment Research
At the center of everything we do is a strong commitment to independent research and sharing its profitable discoveries with investors. This dedication to giving investors a trading advantage led to the creation of our proven Zacks Rank stock-rating system. Since 1986 it has nearly tripled the S&P 500 with an average gain of +26% per year. These returns cover a period from 1986-2011 and were examined and attested by Baker Tilly, an independent accounting firm.
Visit performance for information about the performance numbers displayed above.
NYSE and AMEX data is at least 20 minutes delayed. NASDAQ data is at least 15 minutes delayed.