OptionsHouse

Options Trading News

January 4, 2013  Fri 11:16 AM CT

HAL: SEE CHART GET CHAIN FIND STRATEGIES
A large trade is betting on a floor beneath shares of Halliburton as the energy company continues to climb today.

optionMONSTER systems show that one print in the April 29 puts dominates the action in HAL. A trader sold 11,800 of those puts for the bid price of $0.22 in volume that was above the previous open interest of 10,010, so this is a new position.

The put selling is a bet that HAL will close above the $29 strike price at expiration in mid-April. The trader is also showing a willingness to buy shares if they are below that level, for an effective price of $28.78 when the credit from the put sale is included. (See our Education section)

Currently HAL is up 0.69 percent to $36.56, on pace for the highest close since Sept. 17. The oil and natural-gas company is up from support at $30 that held up through mid-November and have not been below $29 since mid-July.
Share this article with your friends


Related Stories

HAL

Halliburton call sale sees limit to upside

September 13, 2016

The energy-services company has fallen 4 percent in the last three months and is scheduled to report earnings in pre-market hours on Oct. 19.

OptionsHouse

TRADING WEEKLY OPTIONS

The fastest money in the market
View full report »

Premium Services

Education & Strategy

Using spreads to minimize risk

Last week we discussed the risk vs reward profile of a debit call spread in Wells Fargo (WFC). This week we will run thru the risk vs reward of selling a credit put spread to achieve the same exposure of that debit call spread.

View more education articles »