I"ll explain this to those that are unfamiliar with 'calls'. You buy the stock, you sell the right to buy your stock for a price and that deal is good for a certain period of time. Look up Devon stock and you will see why this is the perfect stock to do this with. So Fri. ( yesterday) I bought DVN for $68.25 a share, bought 100 shares. Sold the $70 option for $2.70. the option is good for 3 weeks ( Dec 9)--------- So if on Dec 9 the stock is above $70, say $73, I have to sell my stock for $70. If the price is below $70 I keep the $2.70 and I still own the stock and sell another call on the same 100 shares.
Sooooooooo $2.70 ( call ) plus $1.75 ( $70 - $68.25) = $4.45 profit / $68.25 (investment) == 6.5% return in 3 weeks. So the cash that I had just sitting there doing nothing, now made $445 in 3 weeks.
My advice ------- all last week DVN was in the $70's, I would not do this deal till it falls into the $60's. When and if it falls into the low $60's I will do it with much more shares,

*potential 6.5% return in 3 weeks.

I’d rather go put it on red at a casino.

Energy stocks seem to be fairly volatile day to day, so if you time it right - I agree you can make out well.

My motto as well. 50% (or close) is much better odds this given second. Returns as a whole are garbage right now.

#FJB

CDs out there over 4.

I bonds are double that right now.

Ibonds are 6.89. I just double checked because I quit buying when it dropped from 9.62. Didn't want to miss out. I quit buying because I think inflation being so close to the rate, you're losing value in them.

Not much paying better than that on low risk investments.

I'm just trying to help some members make some money----- I have done this a LOT ---- this is the 3rd time I have posted a trade,,,both times before, the trades did exactly what I said they would ----- risk factor on DVN is close to "0". I"l post on here 3 of my other trades,,, Here is one I did in Sept, it will expire on Jan 20. Almost 5 months --- sold the call for $8.45----- soooooo $8.45 / $69.86 == 12% return in 5 months.
The second one bought for $70.54, sold the $72 call for $2,82-- so 4% return in 3 weeks. IF the stock is above $72 when it expires this Fri., then I will make an extra $1.50, making the total profit $4.30 which is a 6% return in 3 weeks. If the stock is below $72 on Fri, then I resell another option.
I"ll post one more --- it will expire on Dec 9, so in 4 weeks the return will be 6.5% if the stock is at $70.