Moving On From Devon and Colgate-Palmolive

After the bell yesterday, Devon Energy (DVN) reported earnings a penny ahead of expectations with revenue coming in just shy of estimates. That was enough to push the stock over $39 this morning and into an area where traders should be grabbing profits from the April 18th call purchase.

The company increased their outlook for 2018 oil production, but after this recent big run, traders should either sell the long May 18 $34 calls and grab the cash or roll the position out and up. These contracts are going for around $5 currently and traded higher earlier this morning. The initial buy was around $2.10, so it is easy to see the appeal in selling here and more than doubling the initial trade. If I were to roll them out, then I would only use the profits, which means risking no more than $2.90 on a new contract. That puts a trader eyeing the July $38 or $39 calls. Personally, I'd lock down the profits....212 more words left in this article. To read them, just click below and try Real Money FREE for 14 days.

Read the full story and get access to the Real Money Pro trading floor.

There’s no substitute for a trading floor to get great ideas, so Jim Cramer created a better one at Real Money and blogs there exclusively. We then added legendary hedge fund manager, Doug Kass, with his exclusive Daily Diary and best investing ideas. Staffed with more than 4 dozen investing pros, money managers, journalists and analysts, Real Money Pro gives you a flood of opinions, analysis and actionable trading advice found nowhere else, and allows you to interact directly with each expert.

Already a Subscriber? Please login.

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.


TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.