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 15 extraordinary options activities for Baidu. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 66% leaning bullish and 33% bearish. Among these notable options, 6 are puts, totaling $236,320, and 9 are calls, amounting to $660,666.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $100.0 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 $100.0 to $200.0 in the last 30 days.
Baidu Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BIDU | CALL | SWEEP | BULLISH | 01/17/25 | $200.00 | $149.0K | 859 | 927 |
| BIDU | CALL | TRADE | BULLISH | 11/17/23 | $110.00 | $127.4K | 2.6K | 1.8K |
| BIDU | CALL | SWEEP | BULLISH | 01/17/25 | $200.00 | $103.9K | 859 | 315 |
| BIDU | CALL | TRADE | BULLISH | 06/21/24 | $100.00 | $97.1K | 374 | 50 |
| BIDU | PUT | SWEEP | NEUTRAL | 01/19/24 | $115.00 | $59.2K | 2.8K | 24 |
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.
Following our analysis of the options activities associated with Baidu, we pivot to a closer look at the company's own performance.
Present Market Standing of Baidu
- Trading volume stands at 1,486,761, with BIDU's price up by 1.43%, positioned at $107.46.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 8 days.
What The Experts Say On Baidu
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $177.66666666666666.
- An analyst from JP Morgan persists with their Overweight rating on Baidu, maintaining a target price of $185.
- An analyst from Barclays has decided to maintain their Overweight rating on Baidu, which currently sits at a price target of $138.
- Reflecting concerns, an analyst from Benchmark lowers its rating to Buy with a new price target of $210.
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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