HP Whale Trades Spotted

HP Whale Trades Spotted

Someone with a lot of money to spend has taken a bullish stance on HP HPQ.

And retail traders should know.

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

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with HPQ, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 18 options trades for HP.

This isn't normal.

The overall sentiment of these big-money traders is split between 77% bullish and 22%, bearish.

Out of all of the options we uncovered, 17 are puts, for a total amount of $2,443,922, and there was 1 call, for a total amount of $29,548.

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 $26.0 to $33.0 for HP over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for HP options trades today is 3998.6 with a total volume of 43,210.00.

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 $26.0 to $33.0 over the last 30 days.

HP Option Volume And Open Interest Over Last 30 Days

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
HPQ PUT SWEEP BEARISH 09/16/22 $33.00 $467.0K 8.6K 2.5K
HPQ PUT SWEEP BULLISH 09/16/22 $33.00 $298.1K 8.6K 2.1K
HPQ PUT SWEEP BEARISH 09/16/22 $33.00 $291.0K 8.6K 4.1K
HPQ PUT TRADE NEUTRAL 09/16/22 $33.00 $270.0K 8.6K 615
HPQ PUT TRADE BULLISH 09/16/22 $33.00 $206.2K 8.6K 4.5K

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
HPQ PUT SWEEP BEARISH 09/16/22 $33.00 $467.0K 8.6K 2.5K
HPQ PUT SWEEP BULLISH 09/16/22 $33.00 $298.1K 8.6K 2.1K
HPQ PUT SWEEP BEARISH 09/16/22 $33.00 $291.0K 8.6K 4.1K
HPQ PUT TRADE NEUTRAL 09/16/22 $33.00 $270.0K 8.6K 615
HPQ PUT TRADE BULLISH 09/16/22 $33.00 $206.2K 8.6K 4.5K

Where Is HP Standing Right Now?

  • With a volume of 4,535,060, the price of HPQ is up 0.31% at $27.73.
  • RSI indicators hint that the underlying stock may be approaching oversold.
  • Next earnings are expected to be released in 77 days.

What The Experts Say On HP:

  • Credit Suisse has decided to maintain their Outperform rating on HP, which currently sits at a price target of $33.
  • Morgan Stanley has decided to maintain their Underweight rating on HP, which currently sits at a price target of $30.
  • Credit Suisse downgraded its action to Outperform with a price target of $39
  • Deutsche Bank has decided to maintain their Hold rating on HP, which currently sits at a price target of $32.
  • Morgan Stanley has decided to maintain their Underweight rating on HP, which currently sits at a price target of $28.

Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.

If you want to stay updated on the latest options trades for HP, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets