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 19 extraordinary options activities for Baidu. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 42% leaning bullish and 52% bearish. Among these notable options, 3 are puts, totaling $152,100, and 16 are calls, amounting to $771,250.
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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 $70.0 to $100.0 for Baidu during the past quarter.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Baidu's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Baidu's significant trades, within a strike price range of $70.0 to $100.0, over the past month.
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 | CALL | TRADE | BULLISH | 09/20/24 | $3.3 | $3.2 | $3.3 | $100.00 | $165.0K | 9.9K | 1.0K |
| BIDU | PUT | SWEEP | NEUTRAL | 12/20/24 | $14.05 | $13.8 | $14.0 | $100.00 | $70.0K | 486 | 0 |
| BIDU | CALL | SWEEP | BULLISH | 09/20/24 | $3.45 | $3.35 | $3.45 | $100.00 | $69.0K | 9.9K | 833 |
| BIDU | CALL | TRADE | BEARISH | 08/09/24 | $6.8 | $6.45 | $6.57 | $87.00 | $65.7K | 119 | 0 |
| BIDU | CALL | TRADE | BULLISH | 12/20/24 | $14.15 | $14.15 | $14.15 | $85.00 | $56.6K | 298 | 120 |
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.
In light of the recent options history for Baidu, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Baidu's Current Market Status
- Currently trading with a volume of 1,440,841, the BIDU's price is up by 1.25%, now at $91.5.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 31 days.
Professional Analyst Ratings for Baidu
A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $126.5.
- An analyst from B of A Securities has decided to maintain their Buy rating on Baidu, which currently sits at a price target of $128.
- An analyst from Barclays persists with their Overweight rating on Baidu, maintaining a target price of $125.
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.
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