Benzinga's options scanner has just identified more than 41 option transactions on HP HPQ, with a cumulative value of $2,027,199. Concurrently, our algorithms picked up 4 puts, worth a total of 227,056.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $29.0 and $50.0 for HP, spanning the last three months.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for HP options trades today is 3352.71 with a total volume of 67,660.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for HP's big money trades within a strike price range of $29.0 to $50.0 over the last 30 days.
HP Option Activity Analysis: 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 | 09/20/24 | $7.1 | $6.95 | $7.1 | $29.00 | $131.2K | 2.6K | 4.0K |
| HPQ | CALL | SWEEP | BULLISH | 09/20/24 | $7.05 | $6.85 | $7.05 | $29.00 | $117.0K | 2.6K | 3.2K |
| HPQ | CALL | SWEEP | BULLISH | 12/19/25 | $1.96 | $1.18 | $1.96 | $50.00 | $115.8K | 1.0K | 1.2K |
| HPQ | PUT | SWEEP | BULLISH | 08/16/24 | $6.3 | $6.2 | $6.2 | $42.00 | $99.8K | 406 | 194 |
| HPQ | CALL | SWEEP | BULLISH | 09/20/24 | $7.05 | $6.9 | $7.05 | $29.00 | $91.3K | 2.6K | 3.6K |
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
- Currently trading with a volume of 4,184,959, the HPQ's price is down by -2.21%, now at $35.65.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 78 days.
What Analysts Are Saying About HP
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $35.0.
- Maintaining their stance, an analyst from B of A Securities continues to hold a Buy rating for HP, targeting a price of $35.
- Consistent in their evaluation, an analyst from Morgan Stanley keeps a Overweight rating on HP with a target price of $37.
- Consistent in their evaluation, an analyst from TD Cowen keeps a Hold rating on HP with a target price of $32.
- An analyst from JP Morgan persists with their Overweight rating on HP, maintaining a target price of $38.
- Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for HP, targeting a price of $33.
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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