Analytical models for small Ω-shaped conductive particles in free space or embedded in isotropic materials are presented and discussed. The electromagnetic analysis is based on the antenna theory for circular loop antennas and dipole wire antennas. Analytical expressions for the polarizabilities valid in the frequency area covering the two lower resonances are given. Mutual coupling between two portions of the particle: the loop and the straight wire is considered in terms of the mutual impedance, which is analytically calculated with the use of the induced electromotive force method. Approximate analytical expressions are compared with numerical simulations and are seen to be in good agreement. The results can be used in analytical modeling of omega and chiral composite materials and in the antenna theory.