Hewlett-Packard(HPQ) Background: Hewlett-Packard trades an average of 20.3 million shares per day with a market cap of $35.1 billion. 52-week range: $17.99 to 37.47 Shares have fallen 51.7% in the last year, and the average analyst target price for HPQ is $26.44. The mean fiscal year estimate price-to-earnings ratio is 4.44, based on earnings of $4.05 per share this year. Investors are receiving 53 cents in dividends for a yield of 2.94%. In the last month the stock has fallen 7.1%. May 23 was the last earnings release; the closing price before then was $21.08. Relative to a current price of $17.91, shares are down 14.7%. HP is oversold on the weekly chart and is nearly oversold on the daily. I like the September $17 put during the next few trading days for 70 cents or more. My profit target is 60 cents or close out on option expiration date. >>To see these stocks in action, visit the 10 Profitable and Oversold Stocks Ready To Move Higher portfolio on Stockpickr. At the time of publication the author did not hold a position in any stock mentioned. This article is commentary by an independent contributor, separate from TheStreet's regular news coverage.