High-rolling investors have positioned themselves bearish on Hewlett Packard HPE, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in HPE often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 9 options trades for Hewlett Packard. This is not a typical pattern.
The sentiment among these major traders is split, with 0% bullish and 88% bearish. Among all the options we identified, there was one put, amounting to $59,383, and 8 calls, totaling $561,050.
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 $21.0 and $22.0 for Hewlett Packard, spanning the last three months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Hewlett Packard's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Hewlett Packard's significant trades, within a strike price range of $21.0 to $22.0, over the past month.
Hewlett Packard 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HPE | CALL | SWEEP | BEARISH | 12/06/24 | $1.7 | $1.65 | $1.65 | $21.00 | $82.5K | 5.5K | 606 |
| HPE | CALL | SWEEP | BEARISH | 12/06/24 | $1.7 | $1.6 | $1.62 | $21.00 | $81.6K | 5.5K | 1.1K |
| HPE | CALL | SWEEP | BEARISH | 12/06/24 | $1.7 | $1.6 | $1.6 | $21.00 | $80.0K | 5.5K | 1.6K |
| HPE | CALL | SWEEP | BEARISH | 12/06/24 | $1.7 | $1.55 | $1.57 | $21.00 | $77.5K | 5.5K | 2.1K |
| HPE | CALL | SWEEP | BEARISH | 12/06/24 | $1.4 | $1.3 | $1.32 | $21.50 | $66.5K | 1.3K | 553 |
About Hewlett Packard
Hewlett Packard Enterprise is an information technology vendor that provides hardware and software to enterprises. Its primary product lines are compute servers, storage arrays, and networking equipment; it also has a high-performance computing business. HPE's stated goal is to be a complete edge-to-cloud company. Its portfolio enables hybrid clouds and hyperconverged infrastructure. It uses a primarily outsourced manufacturing model and employs 60,000 people worldwide.
Hewlett Packard's Current Market Status
- With a trading volume of 5,862,339, the price of HPE is up by 1.79%, reaching $22.15.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 0 days from now.
Professional Analyst Ratings for Hewlett Packard
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $26.666666666666668.
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. * An analyst from Morgan Stanley has elevated its stance to Overweight, setting a new price target at $28. * Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Hewlett Packard, targeting a price of $23. * In a positive move, an analyst from Raymond James has upgraded their rating to Strong Buy and adjusted the price target to $29.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Hewlett Packard, Benzinga Pro gives you real-time options trades alerts.
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