HALHalliburton Company
Options Analysis Report•OIL & GAS FIELD SERVICES, NEC
Market Cap $34.5B|NYSE
● 2026-05-15$41.29
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +96.2%YTD +39.5%7D +3.7%
Options Vol
10,857
30D
Implied Move
±10.3%
IV Rank
27%
HAL Options Overview
Mixed signals. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
5.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 60.6% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.12x — IV premium over HV
Sector Relative≤50%
Sector percentile 64% — above sector median
Term Structure
<1.1xFront/Back 0.98x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 38.0% — normal range
Spread-Adjusted Value
<80%Effective IV 52.5% (ATM 38.0% + spread 7.2% + bias) — good value
Execution Efficiency
<3.0%Total drag 12.28% (spread 7.23% + slippage 5.05%) — high friction
Vega Efficiency
≥5.0Vega efficiency 4.54 (vega 3.284 / spread 7.23%) — spread drag
Sentiment
Bullish or bearish?
5.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBullish - Moderate signal (Conviction: +22%, Raw: +23%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +22% (bullish) — Raw: +23%
OI Skew Magnitude
≥15%|OI skew| 6.9% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -4.9%, OI skew +6.9% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 30%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -2%, ATM: -32%, OTM: +44% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 91% — very bearish vs sector
Activity
Unusual activity?
3.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks0/9 checks passed
Volume Surge
≥1.5xVolume 0.5x avg — normal
Turnover Rate
≥15%Vol/OI 1.8% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +4.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 14% — quiet vs sector
Trade Quality
≥30%Large trade volume 24% — mixed
Execution Urgency
≥60%Aggressive execution 38% — patient
Flow Conviction
≥30Conviction +22 (bullish) — mixed
Liquidity
Can I trade efficiently?
4.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 7.2% — wide
Adequate OI
≥10,000OI 609,546 — deep
Active Volume
≥500Volume 10,857/day — active
Reasonable Cost
≤$0.50$0.36 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 64% — wider than sector
Order Book Depth
≥100 contractsDepth 311.7 contracts (bid:151.1 ask:160.6) — adequate
Execution Quality
<1.0%Avg slippage 5.05% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -1.6% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 61% — neutral
Event Detection
≥10pts kinkIV kink 0.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 81.70 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +22% @ 61% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 54 (ITM 20% + inst 24%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls5.8
bullishIV fair, mixed flow
Long Puts5.4
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put5.2
bullishIV fair, mixed flow
Covered Call4.8
bearishIV fair, mixed flow
For educational purposes only. Not investment advice.