HP Stock Sinks After Berkshire Hathaway Sells Stake

Options traders are blasting the security in response

Digital Content Manager
Sep 14, 2023 at 10:59 AM
facebook X logo linkedin


Warren Buffett's Berkshire Hathaway (BRK) sold 5.5 million shares of tech name HP Inc (NYSE:HPQ) for about $158 million. This brings the conglomerate's stake in HP down to roughly $3.27 billion, per a new filing with the U.S. Securities and Exchange Commission (SEC). 

HPQ was last seen down 3.3% at $27.40, and earlier slipped to its lowest trading level since January. The stock's 20-day moving average has been guiding it lower since August, capping a rally later that month. Quarter-to-date, HP stock is now down more than 10%.

Options volume is running at double the intraday average today, with 6,362 calls and 4,175 puts traded. The most active contract is the October 30 call, with positions being opened at the weekly 9/15 27-strike call.

These options are affordably priced at the moment, too. This is per HPQ's Schaeffer's Volatility Index (SVI) of 33% that sits higher than just 12% of annual readings, meaning these traders are currently pricing low volatility expectations.

 

Target Effortless Triple-Digit Gains Every Sunday Evening For Life!

This is your chance to triple your profit potential on Sunday evenings, without spending all your free time watching the market.

On Sundays, as a Weekend Plus subscriber, you’ll get up to 6 trades every Sunday, each targeting gains of 200% or more.

Start targeting gains like the ones our subscribers have seen recently, including:

213.3% GAIN on AutoNation calls
100.0% GAIN on Monster Beverage calls
100.4% GAIN on Walgreens Boots Alliance puts
100.4% GAIN on ON Semiconductor calls
257.7% GAIN on Dell calls

101.0% GAIN on Apollo Global Management calls
103.6% GAIN on JP Morgan  Chase calls
105.3% GAIN on DraftKings calls
101.3% GAIN on Airbnb calls
203.0% GAIN on Shopify calls
102.0% GAIN on Cboe Global Markets calls
100.9% GAIN on Boeing calls
102.1% GAIN on Microsoft puts
102.3% GAIN on First Solar calls
101.5% GAIN on PulteGroup calls
101.0% GAIN on Apple calls
209.4% GAIN on NXP Semiconductors calls
100.8% GAIN on Uber Technologies calls
100.4% GAIN on Academy Sports and Outdoors puts
102.2% GAIN on Trade Desk calls
100.8% GAIN on DoorDash calls
100.0% GAIN on Camping World Holdings puts
100.0% GAIN on Cboe Global Markets calls
100.2% GAIN on C3.ai calls
238.5% GAIN on Oracle calls

 
 
 


 
 

Rainmaker Ads CGI