Quick update on the Oil Service sector…primarily the two heavyweights, Schlumberger (SLB) and Halliburton (HAL). Been a very tought sector for quite some time, but interest appears to be perking up with the recover in oil prices.
Two of the bigger single name stock option trades occured in those two names yesterday, and were likely related and a single investor. Someone rolled out of over 10,000 HAL Jan 30 calls in favor of same amount of Feb 30 calls with the stock just below $30/share. Likewise in SLB, someone rolled out of similar amount of Jan 42.5 calls into Feb 42.5 calls with the stock around $41 zone.
Both trades appear to be positioning for further upside in the coming month. Earnings reports (with 2019 forecast likely to be presented) are on the near term horizon, with SLB reporting the morning of Jan 18th and HAL reporting the morning of Jan 22nd.