Brian Stutland said on CNBC's Fast Money that he has an option strategy that would help him to protect his position in Hewlett-Packard Company (NYSE:
HPQ). He said that there are two important dates for Hewlett-Packard Company (
HPQ).
On September 28th, an analyst meeting will be held, and on October 13th Intel (NASDAQ:
INTC) will report earnings. Brian Stutland explained that Hewlett-Packard Company (
HPQ) moves over 2% on Intel's (
INTC) earnings.
In order to protect his position, Brian Stutland wants to buy the October 39 put for $0.50. The break even for this trade is $38.50.
Hewlett-Packard Company (
HPQ) gained 1.52% in the regular trading session, and it closed at $40.15. In the after hours it gained additional 0.60%.
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