This Is What Whales Are Betting On Halliburton

Someone with a lot of money to spend has taken a bearish stance on Halliburton HAL.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with HAL, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for Halliburton.

This isn't normal.

The overall sentiment of these big-money traders is split between 18% bullish and 81%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $418,010, and 5 are calls, for a total amount of $166,613.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $31.0 to $45.0 for Halliburton over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Halliburton options trades today is 702.89 with a total volume of 3,004.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Halliburton's big money trades within a strike price range of $31.0 to $45.0 over the last 30 days.

Halliburton Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
HAL PUT SWEEP BEARISH 01/19/24 $45.00 $121.2K 306 101
HAL PUT SWEEP BEARISH 05/19/23 $32.00 $97.1K 976 1.0K
HAL PUT SWEEP BEARISH 06/16/23 $35.00 $66.2K 693 231
HAL PUT SWEEP BEARISH 10/20/23 $31.00 $61.5K 446 234
HAL CALL SWEEP BULLISH 04/21/23 $32.50 $46.3K 826 501

Where Is Halliburton Standing Right Now?

  • With a volume of 4,195,936, the price of HAL is up 0.68% at $33.82.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 12 days.

What The Experts Say On Halliburton:

  • Benchmark downgraded its action to Buy with a price target of $50
  • Citigroup has decided to maintain their Buy rating on Halliburton, which currently sits at a price target of $44.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for Halliburton, Benzinga Pro gives you real-time options trades alerts.

Market News and Data brought to you by Benzinga APIs
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Posted In: OptionsMarketsBZI-UOA
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