HP Inc. Options Traders Signal Bullish Sentiment Ahead of Q2 Earnings

Key Facts

Amid heightened anticipation for tech sector earnings, HP Inc. is seeing a significant surge in bullish options positioning. According to reports, the call-put ratio for HP reached 2.7 to 1 ahead of its quarterly results announcement scheduled for after the market close. This activity has been specifically concentrated in the May 29 weekly $28 calls, suggesting traders are betting on a post-earnings rally.

This momentum follows a period of recovery in the PC market, with peers like Dell Technologies recently reporting strong demand for AI-optimized hardware per market data. However, the high conviction among bulls comes with a caveat; implied volatility is currently elevated at 156%, indicating that the market is pricing in a substantial price swing regardless of the earnings direction.

HPQ shares remain in focus as the company prepares to report its Q2 2026 fiscal results. Beyond the company-specific catalyst, investors are also monitoring broader macro signals, including the US Manufacturing PMI data scheduled for release today, which could impact overall sentiment across the hardware and technology sectors.