HALHalliburton Company
Options Analysis Report•OIL & GAS FIELD SERVICES, NEC
Market Cap $31.0B|NYSE
● 2026-04-17$37.15
BULLISH
Analysis: 2026-04-16 EOD data
1Y +69.5%YTD +25.5%7D -1.2%
Options Vol
31,070
30D
Implied Move
±11.8%
IV Rank
37%
HAL Options Overview
Mixed signals. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 69.2% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.30x — IV premium over HV
Sector Relative≤50%
Sector percentile 82% — above sector median
Term Structure
<1.1xFront/Back 1.23x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 41.8% — normal range
Spread-Adjusted Value
<80%Effective IV 51.4% (ATM 41.8% + spread 4.8% + bias) — good value
Execution Efficiency
<3.0%Total drag 7.62% (spread 4.81% + slippage 2.81%) — high friction
Vega Efficiency
≥5.0Vega efficiency 1.62 (vega 0.781 / spread 4.81%) — spread drag
Sentiment
Bullish or bearish?
6.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bullish - Strong signal (Conviction: +36%, Raw: +31%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +36% (strong bullish) — Raw: +31%
OI Skew Magnitude
≥15%|OI skew| 14.7% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +11.8%, OI skew +14.7% — aligned
Conviction Quality
≥2/3 conditions0-DTE 15%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -5%, ATM: +22%, OTM: +35% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 65% — bearish vs sector
Activity
Unusual activity?
6.0
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks4/9 checks passed
Volume Surge
≥1.5xVolume 1.4x avg — normal
Turnover Rate
≥15%Vol/OI 5.6% — 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 +7.4% (5d) — building
Sector Relative≥60%
Sector activity percentile 74% — active vs sector
Trade Quality
≥30%Large trade volume 57% — heavy institutional
Execution Urgency
≥60%Aggressive execution 53% — patient
Flow Conviction
≥30Conviction +36 (bullish) — moderate
Liquidity
Can I trade efficiently?
6.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks5/8 checks passed
Tradeable Spread
≤5.0%Spread 4.8% — acceptable
Adequate OI
≥10,000OI 551,679 — deep
Active Volume
≥500Volume 31,070/day — active
Reasonable Cost
≤$0.50$0.24 to cross — cheap
Strike Coverage
≥5 strikes2 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 83% — much wider than sector
Order Book Depth
≥100 contractsDepth 418.5 contracts (bid:220.0 ask:198.5) — adequate
Execution Quality
<1.0%Avg slippage 2.81% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +23.2% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 69% — neutral
Event Detection
≥10pts kinkIV kink 7.8pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 4.79 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 4d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +36% @ 68% consistency — moderate (bullish)
Smart Money Timing
≥40 composite scoreScore 87 (ITM 20% + inst 57%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.7
bullishIV expensive, bullish flow
Long Puts4.5
bearishIV expensive, bullish flow
Premium Sellers
Cash-Secured Put6.4
bullishIV rich premium, bullish flow
Covered Call5.2
bearishIV rich premium, bullish flow
For educational purposes only. Not investment advice.