Best Options Strategy for BORR
Looking for the best options strategy for Borr Drilling Limited (BORR)? There is no single answer — the right play depends on your outlook, your risk tolerance and current implied volatility. Below, our free engine shows the highest-scoring defined-risk strategy on the live BORR option chain right now, and a simple map from your view on BORR to the strategy that fits it. Model any of them in the calculator before you trade.
About BORR
Borr Drilling Limited (BORR) is a major company in Oil & Gas Drilling. Options traders on BORR tend to watch , since these can drive large moves in the share price.
About Borr Drilling Limited
Borr Drilling Limited operates as an offshore drilling services provider, focusing on shallow-water environments across multiple continents including the Americas, Southeast Asia, West Africa, the Middle East, North Africa, and Europe. The company owns and operates jack-up rigs, which are mobile drilling platforms designed for deployment in shallow waters. It provides comprehensive drilling and workover services to support both exploration and production activities, supplying not only the specialized equipment but also trained personnel and technical crews needed to execute oil and gas operations.
The company generates revenue by contracting its rig fleet and associated services to various oil and gas producers, ranging from major integrated oil companies to smaller independent operators and state-owned national oil companies. By maintaining a fleet positioned across geographically diverse regions, Borr Drilling serves multiple markets simultaneously, capturing demand from exploration, development, and production phases of oil and gas projects. The company was incorporated in Bermuda in 2016, having previously operated under the name Magni Drilling Limited before rebranding to…
Today's top-scoring strategy for BORR
Our engine ranks defined-risk strategies on the live BORR chain by probability of profit and risk/reward, then surfaces the best-scoring one. It is an educational illustration, not advice.
| Action | Qty | Type | Strike | Premium |
|---|---|---|---|---|
| Buy | 1× | CALL | $95 | $6.83 |
| Sell | 2× | CALL | $100 | $3.82 |
| Buy | 1× | CALL | $105 | $1.87 |
Simulation
Forward simulation of 6,000 lognormal price paths to expiration — not a historical backtest.
Strategy analysis
Greeks vs price
Price × volatility (today)
| −30% | −15% | IV | +15% | +30% | |
|---|---|---|---|---|---|
| $125 | −$105 | −$103 | −$99 | −$94 | −$89 |
| $120 | −$102 | −$96 | −$88 | −$82 | −$77 |
| $115 | −$88 | −$77 | −$69 | −$64 | −$61 |
| $110 | −$50 | −$42 | −$40 | −$41 | −$43 |
| $105 | $10 | −$1 | −$11 | −$20 | −$28 |
| $100 | $42 | $18 | $0 | −$13 | −$23 |
| $95 | $3 | −$7 | −$16 | −$25 | −$32 |
| $90 | −$64 | −$55 | −$52 | −$51 | −$52 |
| $85 | −$98 | −$91 | −$84 | −$78 | −$75 |
| $80 | −$105 | −$103 | −$100 | −$96 | −$92 |
| $75 | −$106 | −$106 | −$105 | −$104 | −$101 |
Illustrative example at BORR's latest available price, computed with the same engine as the tool. Live option fills and the real IV skew refresh during US market hours.
Implied volatility
BORR typically trades with moderate implied volatility, broadly in line with other large-cap stocks. Implied volatility drives option prices, so it is worth checking the live chain before you trade.
BORR insider trading activity (SEC Form 4)
Open-market insider transactions at BORR over roughly the last six months, from SEC Form 4 filings. Open-market buys are the rarer, more telling signal — routine selling under pre-arranged plans is common, so read a net-selling figure with that in mind.
| Insider | Action | Shares | Value | Date |
|---|---|---|---|---|
| Troim Tor Olav | Buy | 200,000 | $875K | 2026-08-25 |
| Currie Jeffrey | Buy | 125,000 | $502K | 2026-08-13 |
| Troim Tor Olav | Buy | 1,500,000 | $6.0M | 2026-08-13 |
| Morand De Oliveira Bruno | Buy | 275,000 | $457K | 2026-06-17 |
| Schorn Patrick | Buy | 1,200,000 | $2.0M | 2026-06-17 |
| Mordehachvili Thiago | Sell | 8,000,000 | $37.6M | 2026-06-09 |
Source: SEC Form 4 filings via Finnhub. Open-market purchases (P) and sales (S) only — grants, option exercises, gifts and tax withholding are excluded. Informational context, not investment advice.
Key figures
- Market cap
- $1.3B
- Beta (vs market)
- 1.02
- 52-week range
- $2.44–$6.66
- Short interest
- 13.2% of float · 5.4 days to cover
With 13.2% of BORR's float sold short, squeeze and gap risk are elevated — one reason its options can stay expensive.
How to choose an options strategy for BORR
Start with your outlook on BORR, then match it to a defined-risk structure. Here are the most common choices and when each makes sense:
Bullish
Buy a call for leverage with capped risk, or a bull call spread to lower the cost and breakeven when you have a target price.
Long Call → Bull Call Spread →Bearish
Buy a put to profit from a decline with defined risk, or a bear put spread to cheapen the trade when you expect a measured move down.
Long Put → Bear Put Spread →Neutral
Sell an iron condor to collect premium while BORR stays between two strikes, or write a covered call against shares you already own.
Iron Condor → Covered Call →⧉ Embed this free calculator on your site →
How we pick the best strategy
For each ticker we pull the live option chain, build every supported strategy around the at-the-money strikes, and score them on probability of profit, risk/reward and capital efficiency — favouring defined-risk structures where the maximum loss is known up front. Methodology →
Open BORR in the free calculator →
Frequently asked questions
What is the best options strategy for BORR?
It depends on your outlook. Bullish traders often use a long call or bull call spread on BORR; bearish traders a long put or bear put spread; neutral traders an iron condor or covered call. Our live scan above shows the current highest-scoring defined-risk play.
Are BORR options liquid enough to trade?
Borr Drilling Limited (BORR) is among the most actively-traded US options, which usually means tight bid/ask spreads and plenty of strikes and expirations — though you should always check the open interest and spread on the exact contract.
How much money do I need to trade BORR options?
Buying a single BORR call or put can cost as little as the premium (often one to a few hundred dollars), while income strategies like a cash-secured put need enough capital to buy 100 shares if assigned.
Is this financial advice?
No. Everything here is educational and uses delayed, third-party data. It is not a recommendation to trade BORR or any security. Do your own research.
What does Borr Drilling Limited do?
Borr Drilling Limited (BORR) operates in the Oil & Gas Drilling industry. The "About Borr Drilling Limited" section above gives a fuller picture of what the company does and how it earns money.
Does Borr Drilling Limited pay a dividend?
We don't show a confirmed dividend yield for Borr Drilling Limited here, so treat it as uncertain: before writing calls, check its current dividend and ex-dividend date with your broker — an approaching ex-dividend date can trigger early assignment on in-the-money short calls.
Tickers related to BORR
Comparing BORR with similar names can help you choose the best options strategy:
Company information
- Headquarters
- S. E. Pearman Building, 2nd Floor 9 Par-la-Ville Road, Hamilton, HM11, Bermuda
- Industry
- Oil & Gas Drilling
- Employees
- 2,030
- CEO
- Mr. Bruno Morand
- Phone
- 441 542 9234
- Website
- borrdrilling.com
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