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Short-term bulls were placing cheap bets on Halliburton at the end of last week.
About 3,700 Weekly 40 calls expiring this coming Friday were purchased for $0.10 to $0.12, according to optionMONSTER's Heat Seeker tracking system. This is clearly fresh buying, as open interest in the strike was only 339 contracts before the session began.
These long calls lock in the price where the stock can be purchased through the end of this week no matter how far it might climb. They could be sold earlier at a profit if premiums rise with a rally before then, providing potentially significant leverage, but the contracts will expire worthless if shares remain below $40. (See our Education section)
HAL fell 3.23 percent to $36.85 on Friday. The oilfield-service company bounced sharply after falling below $31 when the broader market plunged on Aug. 24, but it has pulled back this month.
Total calls in Halliburton outpaced puts by nearly 2 to 1. HAL is the second-largest holding in the Market Vectors Oil Services Fund, which also saw call buying on Friday .
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Halliburton is a and oil producing company based in United states of america. Halliburton is listed in United States of America. Its market capitalisation is US$ 33.4 billions as of today (€ 31.2 billions). Its stock quote reached its lowest recent point on January 25, 2002 at US$ 10.06, and its highest recent level on April 26, 2024 at US$ 38.54. Halliburton has 867 249 984 shares outstanding. |