Deep-pocketed investors have adopted a bullish approach towards Baidu BIDU, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in BIDU usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 22 extraordinary options activities for Baidu. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 50% leaning bullish and 50% bearish. Among these notable options, 11 are puts, totaling $769,873, and 11 are calls, amounting to $498,399.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $85.0 to $125.0 for Baidu during the past quarter.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Baidu stands at 1035.75, with a total volume reaching 5,998.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Baidu, situated within the strike price corridor from $85.0 to $125.0, throughout the last 30 days.
Baidu 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BIDU | PUT | TRADE | BEARISH | 09/20/24 | $14.0 | $13.55 | $14.0 | $110.00 | $140.0K | 1.4K | 0 |
| BIDU | PUT | SWEEP | BEARISH | 05/17/24 | $1.87 | $1.85 | $1.85 | $95.00 | $131.7K | 3.1K | 2.7K |
| BIDU | PUT | TRADE | BULLISH | 07/19/24 | $12.0 | $11.9 | $11.9 | $110.00 | $117.8K | 312 | 1 |
| BIDU | CALL | SWEEP | BULLISH | 05/17/24 | $15.7 | $15.55 | $15.7 | $90.00 | $95.7K | 322 | 4 |
| BIDU | PUT | TRADE | BEARISH | 05/03/24 | $6.5 | $6.15 | $6.5 | $108.00 | $71.5K | 21 | 110 |
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.
After a thorough review of the options trading surrounding Baidu, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Baidu's Current Market Status
- Trading volume stands at 3,064,804, with BIDU's price down by -2.8%, positioned at $103.51.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 36 days.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Baidu, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
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