HAL – Halliburton Co. – Optimistic options investors established long-term bullish stances on Halliburton today to position for a significant recovery in the price of the oil services firm’s shares by next January. Halliburton’s shares rallied 2.35% to stand at $23.65 as of 12:35 pm (ET). One strategist purchased a plain-vanilla debit call spread to prepare for continued bullish movement in the price of the underlying stock. The trader picked up 3,600 calls at the January 2011 $27 strike for a premium of $2.15 each and sold the same number of calls at the higher January 2011 $32 strike for $0.87 in premium apiece. Net premium paid for the call spread amounts to $1.28 per contract. The investor loses the full amount of premium paid to purchase the trade if Halliburton’s shares fail to rally above $27.00 by expiration. Shares must surge nearly 19.6% over the current price of $23.65 in order for the trader to breakeven on the transaction at $28.28. The investor long the spread is prepared to amass maximum potential profits of $3.72 per contract if shares of the oil services provider soar 35.3% higher to surpass $32.00 by expiration day in January 2011.