DELL data by YCharts Dell (DELL)Background: Dell trades an average of 18 million shares per day with a market cap of $20.2 billion. 52-week range: $11.56 to 18.32 Shares have fallen 30.1% in the last year, and the average analyst target price for DELL is $16.09. The trailing 12-month price-to-earnings ratio is 5.7 and the mean fiscal year estimate price-to-earnings ratio is 6.02, based on earnings of $1.92 per share this year. In the last month the stock has fallen 3%. DELL's latest earnings release was May 22 and the previous closing price was $15.08. Relative to a current price of $11.84, shares are down 21.1%. Dell is oversold on the daily chart and is near support on the weekly chart. I like the September $11 put during the next few trading days for 38 cents or more. My profit target is 30 cents or close out on option expiration date. HPQ data by YCharts 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.