Option traders bets on HAL upside within the year
By David Lipton
February 09, 2010 8:07 PM
February 09, 2010 8:07 PM
Symbols: HAL
Posted in: Options, Trading Ideas
Oil services company Halliburton saw unusual deep ITM call activity within the July 2010 22.50 strike in Tuesday afternoon trading. It appears one trader bought around 25,000 calls around 1 o'clock at an average price of $7.55 vs. an open interest of 5 contracts. The underlying traded up to 29.67 by mid day on 20 mil shares with average volume being around 13 mil. It appears many equity traders followed the bullish call activity with newly initiated positions in the stock looking for the price to stay above the 28.50 level.
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