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Hewlett Packard (HPQ) Trading Near $20.89 Support Level

Jan 03, 2018

Hewlett Packard (HPQ) Trading Near $20.89 Support Level

Jan 03, 2018 (Marketintelligencecenter.com via COMTEX News Network) -- Hewlett Packard (HPQ) closed Jan 2, 2018 at $21.31 and technical indicators recently have been bearish. Based in part on those numbers, MarketIntelligenceCenter.com's patented algorithms have identified a couple of attractive trading opportunities in Hewlett Packard for today. For investors looking for a high return, consider a diagonal spread pairing a long position in the Jan 18, 2019 $12 call and a short position in the May 18, 2018 $21 call for a net debit of about $8.33. This trade has an assigned return of 8.04% and 4.64% downside protection. For more a more conservative play, look at a covered call using the May 18, 2018 $21 call for a $20 net debit. This trade has an assigned return of 5% but the downside protection increases to 6.19%. Standard & PooraEUR(TM)s has a 4 STARS (out of 5) buy ranking and a 12-month target price of $24 on Hewlett Packard. Over the last 52 weeks the stock has traded between $14.40 and $22.68.A

(C) Copyright 2018, Marketintelligencecenter.com. All rights reserved.

SOURCE: Comtex

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