High-rolling investors have positioned themselves bullish 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 18 options trades for Hewlett Packard. This is not a typical pattern.
The sentiment among these major traders is split, with 66% bullish and 22% bearish. Among all the options we identified, there was one put, amounting to $41,905, and 17 calls, totaling $763,815.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $17.0 to $25.0 for Hewlett Packard over the last 3 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 $17.0 to $25.0, over the past month.
Hewlett Packard 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| HPE | CALL | SWEEP | BULLISH | 09/20/24 | $1.6 | $1.5 | $1.6 | $21.00 | $148.8K | 3.5K | 57 |
| HPE | CALL | TRADE | NEUTRAL | 01/17/25 | $4.3 | $4.1 | $4.2 | $18.00 | $84.0K | 45 | 1 |
| HPE | CALL | SWEEP | BULLISH | 09/20/24 | $1.85 | $1.8 | $1.85 | $21.00 | $49.9K | 3.5K | 993 |
| HPE | CALL | SWEEP | BULLISH | 06/21/24 | $4.2 | $4.0 | $4.2 | $17.00 | $46.2K | 20.6K | 5.8K |
| HPE | PUT | SWEEP | BEARISH | 12/20/24 | $1.45 | $1.4 | $1.45 | $20.00 | $41.9K | 351 | 0 |
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, and its portfolio enables hybrid clouds and hyperconverged infrastructure. It uses a primarily outsourced manufacturing model and employs 60,000 people worldwide.
Following our analysis of the options activities associated with Hewlett Packard, we pivot to a closer look at the company's own performance.
Current Position of Hewlett Packard
- With a volume of 9,044,045, the price of HPE is up 2.51% at $21.43.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 75 days.
Professional Analyst Ratings for Hewlett Packard
In the last month, 5 experts released ratings on this stock with an average target price of $22.4.
- Maintaining their stance, an analyst from Wells Fargo continues to hold a Equal-Weight rating for Hewlett Packard, targeting a price of $22.
- An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Hewlett Packard, which currently sits at a price target of $22.
- An analyst from B of A Securities persists with their Neutral rating on Hewlett Packard, maintaining a target price of $22.
- An analyst from Susquehanna has decided to maintain their Neutral rating on Hewlett Packard, which currently sits at a price target of $20.
- An analyst from Argus Research upgraded its action to Buy with a price target of $26.
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 Hewlett Packard with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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