Schaeffer's Option Blog: Hewlett-Packard Company (HPQ) Sees Heavy Option Trading Ahead of Earnings

CINCINNATI--(Business Wire)--
Hewlett-Packard Company (NYSE: HPQ) has been the center of some heavy option
trading this afternoon ahead of the company's earnings report, which is due out
after the close today. The stock has witnessed 66,300 contracts cross the tape,
which is 2.9 times the equity's average daily trading volume of 22,959
contracts. So far, there has been a slight preference for puts, as 59% of the
volume has crossed on the put side, according to data from WhatsTrading.com.

Digging into today's action, the June 37.50 call has been the most active on the
call side, with more than 9,100 contracts changing hands on open interest of
7,696 contracts. At 10:36 a.m. Eastern time, a block of 1,626 contracts changed
hands at a bid price of $1.10. The June 39 call has also seen some brisk
trading, with nearly 8,500 contracts changing hands on open interest of 4,153
contracts. At 12:03 p.m. Eastern time, two blocks totaling 3,710 contracts
traded at a bid price of $0.70.

To continue reading this article, click here:

http://www.schaeffersresearch.com/commentary/content/hewlett-packard+company+hpq+sees+heavy+option+trading+ahead+of+earnings/optionbytes.aspx?single=true&byteID=93058#93058&source=businesswire

Schaeffer's Investment Research
Jocelynn Drake, 513-589-3800
jdrake@sir-inc.com

Copyright Business Wire 2009