Investors with significant funds have taken a bullish position in HP HPQ, a development that retail traders should be aware of.
This was brought to our attention today through our monitoring of publicly accessible options data at Benzinga. The exact nature of these investors remains a mystery, but such a major move in HPQ usually indicates foreknowledge of upcoming events.
Today, Benzinga's options scanner identified 10 options transactions for HP. This is an unusual occurrence. The sentiment among these large-scale traders is mixed, with 60% being bullish and 30% bearish. Of all the options we discovered, 9 are puts, valued at $753,640, and there was a single call, worth $27,000.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $30.0 and $37.0 for HP, spanning the last 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 $30.0 to $37.0 in the last 30 days.
HP Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HPQ | PUT | SWEEP | BULLISH | 01/16/26 | $4.75 | $4.7 | $4.7 | $37.00 | $285.7K | 29 | 588 |
| HPQ | PUT | SWEEP | NEUTRAL | 01/16/26 | $4.7 | $4.65 | $4.7 | $37.00 | $214.8K | 29 | 1.3K |
| HPQ | PUT | SWEEP | BULLISH | 01/16/26 | $4.75 | $4.7 | $4.7 | $37.00 | $55.9K | 29 | 846 |
| HPQ | PUT | SWEEP | BEARISH | 01/16/26 | $4.7 | $4.65 | $4.7 | $37.00 | $44.1K | 29 | 1.4K |
| HPQ | PUT | SWEEP | BEARISH | 01/16/26 | $4.7 | $4.65 | $4.66 | $37.00 | $33.5K | 29 | 1.7K |
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.
After a thorough review of the options trading surrounding HP, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Present Market Standing of HP
- Trading volume stands at 666,205, with HPQ's price up by 0.04%, positioned at $36.88.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 6 days.
Professional Analyst Ratings for HP
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $41.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from JP Morgan persists with their Overweight rating on HP, maintaining a target price of $41.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for HP with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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