Check Out What Whales Are Doing With BIDU

High-rolling investors have positioned themselves bullish on Baidu (NASDAQ:BIDU), and it's important for retail traders to take note.\This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in BIDU often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 10 options trades for Baidu. This is not a typical pattern.

The sentiment among these major traders is split, with 70% bullish and 30% bearish. Among all the options we identified, there was one put, amounting to $93,900, and 9 calls, totaling $396,818.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $95.0 and $200.0 for Baidu, spanning the last three months.

Analyzing Volume & Open Interest

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

This data can help you track the liquidity and interest for Baidu's options for a given strike price.

Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Baidu's whale activity within a strike price range from $95.0 to $200.0 in the last 30 days.

Baidu Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

About Baidu

Baidu is the largest internet search engine in China with 84% share of the search engine market in September 2021 per web analytics firm, Statcounter. The firm generated 72% of core revenue from online marketing services from its search engine in 2022. Outside its search engine, Baidu is a technology-driven company and its other major growth initiatives are artificial intelligence cloud, video streaming services, voice recognition technology, and autonomous driving.

Having examined the options trading patterns of Baidu, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Where Is Baidu Standing Right Now?

• Currently trading with a volume of 1,761,405, the BIDU's price is down by -0.66%, now at $123.18.
• RSI readings suggest the stock is currently may be approaching overbought.
• Anticipated earnings release is in 85 days.

Professional Analyst Ratings for Baidu

In the last month, 5 experts released ratings on this stock with an average target price of $177.8.

• Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Baidu, targeting a price of $150.
• Reflecting concerns, an analyst from Benchmark lowers its rating to Buy with a new price target of $210.
• An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $210.
• An analyst from Goldman Sachs persists with their Buy rating on Baidu, maintaining a target price of $174.
• In a positive move, an analyst from Nomura Instinet has upgraded their rating to Buy and adjusted the price target to $145.

Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Baidu with Benzinga Pro for real-time alerts.