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Hewlett-Packard Company (NYSE:HPQ): Current price $16.77
After reaching a 10-year low of $11.35 in November, the firm’s shares have bounced back by more than 42 percent. However, it appears that options traders are set for a pullback, implied by the growing affinity for puts on the major exchanges. During Friday’s session, speculators set up new positions at the February 16th put at which open interest jumped in excess of 3,300 contracts over the weekend, constituting the most of any strike. Further, the majority of the puts were at the ask price, hinting at buyer-driven volume.
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