Deep-pocketed investors have adopted a bullish approach towards HP (NYSE:HPQ), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in HPQ usually suggests something big is about to happen.

We gleaned this information from our observations today when Benzinga's options scanner highlighted 9 extraordinary options activities for HP. This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 33% leaning bullish and 22% bearish. Among these notable options, 4 are puts, totaling $228,852, and 5 are calls, amounting to $228,738.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $29.0 to $40.0 for HP over the recent three months.

Volume & Open Interest Trends

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for HP's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of HP's whale trades within a strike price range from $29.0 to $40.0 in the last 30 days.

HP Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

About HP

In light of the recent options history for HP, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Where Is HP Standing Right Now?

• Currently trading with a volume of 7,665,294, the HPQ's price is down by -7.87%, now at $35.34.
• RSI readings suggest the stock is currently may be overbought.
• Anticipated earnings release is in 88 days.

What The Experts Say On HP

5 market experts have recently issued ratings for this stock, with a consensus target price of $35.8.

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.