Investors with significant funds have shown optimism towards Hewlett Packard (HPE) recently, as indicated by an increase in options trading activity. The presence of large positions in the options market suggests that some individuals or institutions may have insider knowledge about potential developments related to HPE. Benzinga’s options scanner detected 8 trades in Hewlett Packard today, which is considered abnormal. These trades consisted of 7 call options totaling $233,076 and 1 put option worth $40,000.
The expected price range for Hewlett Packard is estimated to be between $15.0 and $22.0 based on trading volumes and open interest. An analysis of volume and open interest for options within this price range revealed key insights into market sentiment and liquidity levels. The data indicated a mix of bullish and bearish sentiments among deep-pocketed traders.
Specific options activities for Hewlett Packard included calls and puts with various expiry dates and strike prices. Some of the notable trades included bullish call options expiring in 2024 and bearish call options expiring in 2025. The total trade prices ranged from thousands to tens of thousands of dollars, reflecting the significant interest in HPE options.
Hewlett Packard is an information technology provider known for its hardware and software offerings to businesses. The company aims to provide a range of products and services to support hybrid clouds and hyperconverged infrastructure. With a workforce of 60,000 employees globally, HPE operates primarily through an outsourced manufacturing model.
In terms of the current market state, Hewlett Packard’s stock price experienced a slight decrease of -0.11% to $17.78 with a trading volume of 9,328,184. The stock’s RSI values suggest a potential overbought scenario, and an upcoming earnings report is scheduled in 14 days.
Options trading in Hewlett Packard carries both risks and rewards, requiring traders to stay informed, adapt their strategies, and monitor market indicators closely. Real-time alerts on Hewlett Packard options trading activity can be accessed through Benzinga Pro to assist traders in making informed decisions.
Article Source
https://www.benzinga.com/insights/options/24/05/38952294/a-closer-look-at-hewlett-packards-options-market-dynamics
