Deep-pocketed investors have adopted a bearish 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 23 extraordinary options activities for Baidu. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 21% leaning bullish and 56% bearish. Among these notable options, 2 are puts, totaling $118,980, and 21 are calls, amounting to $1,311,527.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $100.0 to $135.0 for Baidu during the past quarter.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for Baidu options trades today is 1974.22 with a total volume of 5,841.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Baidu's big money trades within a strike price range of $100.0 to $135.0 over the last 30 days.
Baidu 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BIDU | CALL | TRADE | BULLISH | 09/20/24 | $20.0 | $19.65 | $20.0 | $100.00 | $212.0K | 955 | 0 |
| BIDU | CALL | TRADE | BEARISH | 05/10/24 | $13.1 | $12.45 | $12.45 | $100.00 | $124.5K | 524 | 130 |
| BIDU | CALL | SWEEP | BULLISH | 07/19/24 | $6.3 | $6.15 | $6.3 | $120.00 | $100.8K | 681 | 19 |
| BIDU | CALL | TRADE | BULLISH | 07/19/24 | $5.05 | $4.6 | $5.05 | $125.00 | $90.9K | 815 | 55 |
| BIDU | CALL | SWEEP | NEUTRAL | 05/17/24 | $9.2 | $8.9 | $9.2 | $105.00 | $89.0K | 4.9K | 25 |
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.
Where Is Baidu Standing Right Now?
- With a volume of 1,562,501, the price of BIDU is up 0.15% at $111.92.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 13 days.
What Analysts Are Saying About Baidu
2 market experts have recently issued ratings for this stock, with a consensus target price of $160.5.
- An analyst from Citigroup persists with their Buy rating on Baidu, maintaining a target price of $176.
- Consistent in their evaluation, an analyst from HSBC keeps a Buy rating on Baidu with a target price of $145.
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.
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