Bulls back in Hewlett Packard Enterprise
Hewlett Packard Enterprise attracted upside option activity yesterday for the second time in a week.
optionMONSTER's market scanner shows that 1,800 September 20 calls were purchased at the same second for $1.05 yesterday. Volume was more than 44 times the strike's open interest, showing that these are new positions, and follows heavy buying in the August 20 calls last Thursday.
Long calls lock in the price where investors can buy stock, allowing them to profit from a rally with limited capital at risk. Their cheap cost can also generate significant leverage on a percentage basis if shares move in the right direction. (See our Education section)
HPE rose 1.36 percent to $20.06 yesterday and is up 15 percent in the last three months. The business-computing company is expected to announce quarterly results after the close on Aug. 23.
Overall option volume was about average in HPE yesterday, but calls outnumbered puts by a bullish 15-to-1 ratio.
More From optionMONSTER
