Entry comments: DVN is an energy stock, Devon, and has been trading above the 10 month SMA for some time It tanked a couple of weeks ago, at which time I closed my option out to minimize losses. It has rebounded nicely, and is trading within the Keltner channels putting in the buy zone. The 60 Strike call satisfies the 1% rule. Will have to watch the energy sector closely, as it has been quite volatile lately.

Exit comments: Closed this today this morning as energy stocks took a plunge yesterday. AS it had gone up nicely 2 days in a row, my plan was to cash it in yesterday shortly after opening. Unfortunately, I slept in, and it was down about $100 from its high. Should have closed out then, but thought it might rebound over the day. Wrong. Got out this morning, still made $100 profit, so am happy to have that rather than a loss.