CCI has been in the process of legging into a trading position in HP for awhile.
Today an article appeared on Seeking Alpha with a good analysis of HP.
HP Value Play at SA by Tom Armistead
CCI has quoted Tom's articles in the past, and found solace that he and I had totally independently come to a similar view. Given that view, Tom suggested a trading strategy around a deep itm leap option, and covered calls. CCI has been legging into a more conservative, income oriented, shorter term trade around the stock. I documented it on a comment on the article above. So a reader who agrees with the analysis of the stock has two trading strategies to consider.
CCI will track the results of my trade here on this blog.