HAL – Halliburton Company – Shares of the oil equipment and services provider are down 1.65% in early afternoon trading to stand at $35.04 as of 12:35 p.m., but one bullish options trader populating the stock today prepared for shares to reverse course and hit new 52-week highs by November expiration. Halliburton’s shares rallied to a new 52-week high of $35.85 yesterday. According to news reports, the Houston, TX-based firm was awarded a contract by ExxonMobil to refurbish wells in the West Qurna field in southern Iraq. But, back to the options field, the optimistic individual signaled expectations of a strong rebound in Halliburton’s shares by purchasing a large block of approximately 20,000 call options outright at the November $38 strike for an average premium of $0.725 per contract. The bullish player stands ready to make money should HAL’s shares surge 10.5% over the current price of $35.04 to surpass the average breakeven point on the calls at $38.725 by expiration day next month. The large block of 20,000 call options exchanged at the November $38 strike is 3.875 times the volume represented by previously existing open interest of 5,161 contracts at that strike. HAL’s overall reading of options implied volatility jumped 12.7% to 40.94% this afternoon. The oil services firm reports third-quarter earnings ahead of the opening bell on October 18, 2010.