Learn the trade here. Make it on tradeMONSTER

Options Trading News

February 15, 2013  Fri 5:14 AM CT

HPQ: SEE CHART GET CHAIN FIND STRATEGIES
Some old tech names have recently come back from the dead, and now the bulls are betting that Hewlett-Packard is ready to make another move.

optionMONSTER's Heat Seeker system detected heavy buying in the March 18 calls, which traded in large institutional size for $0.36 to $0.40. Volume surged past 28,000 in the session, including one giant block of 17,000 contracts.

These calls lock in the price where investors can buy shares in the iconic Silicon Valley company. They stand to generate some nice leverage if it keeps rallying but could also dwindle in value if the shares don't move. The stock already handed traders giant profits in November as it lifted from a 10-year low. (See our Education section)

HPQ rose 0.12 percent yesterday to close at $17.03. Other technology veterans including Nokia, Sony, Dell, and BlackBerry have also made big moves in recent months after major selloffs.

Total option volume in HPQ was twice its daily average, with calls outnumbering puts by almost 5 to 1.

(A version of this post appeared on InsideOptions Pro yesterday.)
Share this article with your friends


Related Stories

HPQ

Old tech rides high with Hewlett-Packard

March 27, 2014

Microsoft, Cisco and now Hewlett-Packard have turned bullish as newer tech names struggle.

HPQ

Hewlett-Packard draws fast money

March 19, 2014

The computer maker rose with an upgrade from Barclays yesterday, and traders are looking for more gains by the end of this week.

Premium Services

Education & Strategy

When cash is king (of hedging)

Whether your trades are winning or losing, it can be tempting to add to your positions. But in either case,...

View more education articles »
optionMONSTER stockMONSTER tradeMONSTER