Investors with a lot of money to spend have taken a bearish stance on Halliburton HAL.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with HAL, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 12 options trades for Halliburton.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $42,550, and 11, calls, for a total amount of $394,335.
Expected Price Movements
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $20.0 to $45.0 for Halliburton over the recent three months.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Halliburton's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Halliburton's whale trades within a strike price range from $20.0 to $45.0 in the last 30 days.
Halliburton Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| HAL | CALL | SWEEP | BEARISH | 02/09/24 | $35.00 | $60.6K | 1.4K | 316 |
| HAL | CALL | SWEEP | BEARISH | 02/16/24 | $37.00 | $47.0K | 1.4K | 882 |
| HAL | PUT | TRADE | BEARISH | 06/21/24 | $45.00 | $42.5K | 224 | 50 |
| HAL | CALL | TRADE | BEARISH | 02/16/24 | $35.00 | $41.9K | 1.7K | 275 |
| HAL | CALL | SWEEP | NEUTRAL | 03/15/24 | $37.00 | $39.4K | 2.7K | 616 |
About Halliburton
Halliburton is one of the three largest oilfield service firms in the world, offering superior expertise in a number of business lines, including completion fluids, wireline services, cementing, and countless others. It's the largest pressure pumper in North America, and has been a leading innovator in hydraulic fracturing over the past two decades.
After a thorough review of the options trading surrounding Halliburton, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of Halliburton
- With a volume of 10,571,693, the price of HAL is up 0.99% at $35.65.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 90 days.
Expert Opinions on Halliburton
In the last month, 3 experts released ratings on this stock with an average target price of $47.0.
- Maintaining their stance, an analyst from Raymond James continues to hold a Strong Buy rating for Halliburton, targeting a price of $47.
- An analyst from RBC Capital downgraded its action to Outperform with a price target of $45.
- Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Halliburton with a target price of $49.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Halliburton with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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