Investors with a lot of money to spend have taken a bullish stance on Baidu BIDU.
And retail traders should know.
We noticed this today when the positions showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with BIDU, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Baidu.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 27%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $308,763, and 10, calls, for a total amount of $782,635.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $95.0 to $130.0 for Baidu over the recent three months.
Volume & Open Interest Trends
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 $130.0 in 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 | NEUTRAL | 06/21/24 | $13.2 | $12.85 | $13.0 | $100.00 | $382.2K | 1.7K | 354 |
| BIDU | PUT | SWEEP | NEUTRAL | 06/21/24 | $1.19 | $1.14 | $1.17 | $95.00 | $308.7K | 4.6K | 638 |
| BIDU | CALL | TRADE | NEUTRAL | 06/21/24 | $12.95 | $12.65 | $12.79 | $100.00 | $125.3K | 1.7K | 452 |
| BIDU | CALL | TRADE | BULLISH | 09/20/24 | $5.5 | $5.15 | $5.5 | $130.00 | $46.7K | 1.9K | 0 |
| BIDU | CALL | SWEEP | BULLISH | 05/17/24 | $1.14 | $1.11 | $1.15 | $120.00 | $45.9K | 4.7K | 83 |
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.
Baidu's Current Market Status
- With a trading volume of 1,269,225, the price of BIDU is down by -2.73%, reaching $110.24.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 9 days from now.
What The Experts Say On Baidu
3 market experts have recently issued ratings for this stock, with a consensus target price of $167.0.
- Maintaining their stance, an analyst from Benchmark continues to hold a Buy rating for Baidu, targeting a price of $180.
- An analyst from HSBC has decided to maintain their Buy rating on Baidu, which currently sits at a price target of $145.
- An analyst from Citigroup persists with their Buy rating on Baidu, maintaining a target price of $176.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Baidu options trades with real-time alerts from Benzinga Pro.
© 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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