Spotlight on Hewlett Packard: Analyzing the Surge in Options Activity

Investors with a lot of money to spend have taken a bearish stance on Hewlett Packard HPE.

And retail traders should know.

We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with HPE, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 8 options trades for Hewlett Packard.

This isn't normal.

The overall sentiment of these big-money traders is split between 25% bullish and 62%, bearish.

Out of all of the options we uncovered, there was 1 put, for a total amount of $28,380, and 7, calls, for a total amount of $281,247.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $10.0 to $17.0 for Hewlett Packard during the past quarter.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Hewlett Packard stands at 632.75, with a total volume reaching 9,497.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Hewlett Packard, situated within the strike price corridor from $10.0 to $17.0, throughout the last 30 days.

Hewlett Packard Option Activity Analysis: Last 30 Days

Noteworthy Options Activity:

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.

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

• Currently trading with a volume of 10,310,268, the HPE's price is up by 2.12%, now at $15.4.
• RSI readings suggest the stock is currently may be oversold.
• Anticipated earnings release is in 84 days.

Professional Analyst Ratings for Hewlett Packard

In the last month, 5 experts released ratings on this stock with an average target price of $19.4.

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. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Hewlett Packard, targeting a price of $24. * Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on Hewlett Packard with a target price of $20. * An analyst from Loop Capital persists with their Hold rating on Hewlett Packard, maintaining a target price of $16. * An analyst from Barclays persists with their Overweight rating on Hewlett Packard, maintaining a target price of $20. * An analyst from Wells Fargo persists with their Equal-Weight rating on Hewlett Packard, maintaining a target price of $17.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Hewlett Packard options trades with real-time alerts from Benzinga Pro.