HALHalliburton Company
HAL Options Overview
bearish flow. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
HAL Gamma Walls
Value
Is IV priced right?
Measures whether options are cheap, fair, or rich relative to historical and peer
IV Rank 66.1% — elevated vs history
IV/HV 1.23x — IV premium over HV
Sector percentile 67% — above sector median
Front/Back 0.97x — contango
Put/Call IV 1.16x — elevated
ATM IV 38.1% — normal range
Effective IV 60.5% (ATM 38.1% + spread 11.2% + bias) — good value
Total drag 15.99% (spread 11.18% + slippage 4.81%) — high friction
Vega efficiency 1.80 (vega 2.008 / spread 11.18%) — spread drag
Sentiment
Bullish or bearish?
Analyzes
Conviction-weighted: -46% (strong bearish) — Raw: -43%
|OI skew| 12.5% — balanced
Vol skew -17.1%, OI skew +12.5% — divergent (opposite)
0-DTE 20%, far-OTM 15%, avg DTE 30
OI change +0.0% (5d) — stable
ITM: -28%, ATM: -49%, OTM: -40% — strong bearish (ITM/ATM aligned)
Sector P/C percentile 82% — very bearish vs sector
Activity
Unusual activity?
Detects volume surges,
Volume 0.9x avg — normal
Vol/OI 2.8% — normal turnover
1 day(s) elevated — may be one-day event
OI change +0.1% (5d) — stable
Sector activity percentile 18% — quiet vs sector
Large trade volume 39% — institutional presence
Aggressive execution 29% — patient
Conviction -46 (bearish) — moderate
Liquidity
Can I trade efficiently?
Evaluates
Spread 11.2% — wide
OI 527,124 — deep
Volume 14,864/day — active
$0.56 to cross — expensive
1 liquid strikes — limited options
Sector spread percentile 68% — wider than sector
Depth 323.2 contracts (bid:111.2 ask:212.0) — adequate
Avg slippage 4.81% — poor
Timing
Is now a good time?
Considers earnings proximity,
Slope -2.7% — flat/unclear
IV percentile 66% — neutral
IV kink -1.0pts — no clear event
θ/ν ratio 34.56 — favors income trades
5 liquid expirations — flexible
caution advised: FOMC in 5d; CPI in 0d (HIGH)
Spread ratio 1.00x — stable
Flow -46% @ 73% consistency — STRONG directional (bearish)
Score 69 (ITM 20% + inst 39%) — HIGH institutional
Directional Strategy Fit
For educational purposes only. Not investment advice.
The Options Desk tracks the move options price into every US earnings report the week of Sep 7, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.