Halliburton (HAL) shares lost $1.69 to $34.13 after the oil driller reported in-line earnings and revenues for the most recent quarter. Shares are under pressure and options volume is 4X the average daiy, with about 43K calls and 57K puts traded so far. The top trade is a Nov 30 – Jan 28 puts spread bought at 39 cents, 20000X on AMEX. It likely rolls a bearish position or a hedge from Nov to Jan and down two strike prices. Meanwhile, implied volatility in HAL is down about 3 percent to 34, compared to a 52-week high and low of 73 and 30.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.