Speaking to Benzinga, TD Ameritrade Chief Strategist JJ Kinahan discussed Baidu Inc (ADR) BIDU ahead of Wednesday’s earnings release.
Kinahan noted that based on implied volatility, the market expected Baidu to move (up or down) approximately 5 percent after earnings.
Since Baidu’s last earnings report, the stock has risen over 8 percent, Kinahan said, while increased trading activity was seen in the monthly $230/$250 Call spread before earnings.
Heading into its earnings release, Baidu Inc (ADR) traded at $218.04, down 0.52% percent.
Kevin Riley and Brianna Valleskey contributed to this report.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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