Investors with a lot of money to spend have taken a bearish stance on HP HPQ.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with HPQ, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 8 uncommon options trades for HP.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 62%, bearish.
Out of all of the special options we uncovered, 4 are puts, for a total amount of $129,975, and 4 are calls, for a total amount of $196,306.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $25.0 to $43.0 for HP over the recent three months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for HP's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of HP's whale trades within a strike price range from $25.0 to $43.0 in the last 30 days.
HP Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HPQ | CALL | SWEEP | BULLISH | 01/17/25 | $2.79 | $2.72 | $2.78 | $37.00 | $83.0K | 26.0K | 296 |
| HPQ | CALL | SWEEP | NEUTRAL | 05/16/25 | $2.2 | $2.01 | $2.01 | $42.00 | $60.2K | 7.2K | 526 |
| HPQ | PUT | SWEEP | BEARISH | 11/15/24 | $0.74 | $0.52 | $0.67 | $38.00 | $33.2K | 485 | 1.0K |
| HPQ | PUT | SWEEP | BEARISH | 02/21/25 | $6.75 | $6.65 | $6.75 | $43.00 | $33.0K | 1 | 50 |
| HPQ | PUT | SWEEP | BEARISH | 11/15/24 | $0.37 | $0.2 | $0.33 | $37.00 | $32.4K | 1.7K | 1.0K |
About HP
HP (formerly Hewlett-Packard) is a behemoth in the PC and printing markets. It has focused on these markets since it exited IT infrastructure in 2015 with the split from Hewlett Packard Enterprise. HP focuses on the commercial market, but maintains sales of consumer devices and printers. The firm has a broad and global customer base, with only one third of sales coming from the US. HP completely outsources manufacturing and relies heavily on channel partners for its sales and marketing.
Current Position of HP
- With a trading volume of 3,829,136, the price of HPQ is up by 3.26%, reaching $38.02.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 15 days from now.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest HP options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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