HAL wheel: cash-secured put & covered-call yields
Halliburton Company · Energy · $32.43 close on Sep 28, 2026
What the Sep 28, 2026 close says about HAL
At 38.8% implied volatility, the options market is pricing a one-standard-deviation move of about $3.73 (11.5%) in HAL by Oct 30, 2026, 32 days out.
Selling the $31 put (−0.29Δ) for $0.78 means assignment would leave a cost basis of $30.22, 6.8% below the $32.43 close.
The 81-day 0.30Δ put pays 1.4× the premium of the 32-day one for 2.5× the time — more premium per day on the 32-day contract ($0.024 vs $0.014).
At 0.30Δ on the Oct 30 expiry the put yields 2.52% on its strike and the call 2.41% on spot: puts and calls pay within 10% of each other on HAL this session.
Moving down to the $30 put (−0.22Δ) buys 3.1% more room below spot and keeps 62% of the 0.30Δ premium.
Open interest in the stored window totals 28,470 contracts; the largest single line is the $40 call expiring Dec 18 with 10,624 (37.3% of the window).
By options volume HAL ranks #231 of 441 names in our universe.
The builder re-quotes every leg from the live chain when it opens; tracking is free to start.
Cash-secured puts on HAL
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $31 | −0.29 | $0.78 Sep 28 | $78.00 | $3,100 | 2.52% | 28.7% | $30.22 | 46 | 22 |
| 0.20Δ | $30 | −0.22 | $0.48 Sep 28 | $48.00 | $3,000 | 1.60% | 18.3% | $29.52 | 31 | 6 |
Snapshot #137 · session 2026-09-28 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Cash secured | Period yield | Annualized | Breakeven | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $30 | −0.28 | $1.10 Sep 28 | $110.00 | $3,000 | 3.67% | 16.5% | $28.90 | 1,767 | 75 |
| 0.20Δ | $28 | −0.17 | $0.59 Sep 28 | $59.00 | $2,800 | 2.11% | 9.5% | $27.41 | 1,795 | 1 |
Snapshot #137 · session 2026-09-28 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ strike · annualized = yield × 365 ÷ 81
Covered calls on HAL
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $35 | 0.28 | $0.78 Sep 28 | $78.00 | 2.41% | 27.4% | 10.33% | 117.8% | 50 | 6 |
| 0.20Δ | $36 | 0.19 | $0.46 Sep 28 | $46.00 | 1.42% | 16.2% | 12.43% | 141.7% | 23 | 6 |
Snapshot #137 · session 2026-09-28 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 32
| Target | Strike | Δ | Last trade | Premium / contract | Yield on spot | Annualized | If called | If called, ann. | OI | Volume |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.30Δ | $36 | 0.31 | $1.04 Sep 28 | $104.00 | 3.21% | 14.5% | 14.22% | 64.1% | 44 | 7 |
| 0.20Δ | Unavailable1 | |||||||||
Snapshot #137 · session 2026-09-28 · captured 22:31 UTC · 15-min delayed · yield = premium ÷ spot · if called = (premium + strike − spot) ÷ spot · annualized × 365 ÷ 81
HAL volatility, dividends and liquidity
- Implied volatility (ATM, ≈30 days)
- 38.8%session 2026-09-28
- IV rank / IV percentile
- Unavailable2
- Next earnings
- Unavailable3
- Next ex-dividend
- None announcedchecked Sep 28, 2026
- Open interest, stored window
- 28,470 contractssession 2026-09-28
- Largest open-interest line
- $40 call · Dec 18 · 10,624
- Bid/ask spread
- Unavailable4
- Options liquidity rank
- #231 of 441 optionable names by options volume
How these numbers are made
One end-of-day snapshot per session from a 15-minute-delayed feed. A premium is a contract’s last trade, used only if it printed that session, sits above intrinsic value and is in order with its neighbours; deltas are the feed’s own. Expiries are the first at least 30 and 60 days out, and nothing under 30 days is annualized. Not investment advice. Full methodology.
- No contract near 0.20Δ traded this session
- We are building our own daily implied-volatility history (1 of 252 sessions so far); IV rank and percentile need a full year of it.
- Our data provider does not license announced earnings dates, and we do not publish estimates.
- Our data feed carries last trades, not live bid/ask quotes, so we cannot show a spread.