HPE (HPE) options memo

The Read

HPE is down 1.86% today at $58.71.

Options traders lean neutral into 2026-08-21, and neutral further out.

A move through $51.19 would change how dealers hedge this stock.

Key numbers

• Spot: $58.71
• Lean: neutral
• Nearest expiry: Fri 8/21
• Implied move: 3.2%
• ATM implied volatility: 61.6%
• Max pain: $49.50
• Pin strike: $60.00
• Gamma flip: $51.19
• Dealer positioning: SHORT GAMMA
• Call wall: $60.00
• Put wall: $49.50
• Put/call open interest: 0.507