In case you haven’t read the first or second part of our Devon cash cow journey, you can read the first part here and second part here. We are updating our journey because DVN has been fairly quiet the past few months but it seems this sleeping giant is awakening.
Here is the historical graph of where we got started.
And here is where we are now.
With oil rising, an upcoming ex-dividend date (today) and investors getting excited about DVN again, we decided it was time to sell some calls for April and collect $643 in call premium. We collected $770 in dividends in December and because today is ex-dividend date, we will be collecting the next dividend as well for another $770 assuming the same payout.
At this point we’ll keep going collecting dividends and selling calls until we are assigned from our position. To find out what happens, stay tuned, stay profitable and stay solvent…