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 trades 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.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 11 uncommon options trades for Baidu.
This isn't normal.
The overall sentiment of these big-money traders is split between 54% bullish and 45%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $234,805, and 6 are calls, for a total amount of $269,612.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $95.0 to $125.0 for Baidu over the recent three months.
Volume & Open Interest Development
In today's trading context, the average open interest for options of Baidu stands at 470.83, with a total volume reaching 246.00. 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 $95.0 to $125.0, throughout the last 30 days.
Baidu Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BIDU | CALL | TRADE | BULLISH | 12/15/23 | $95.00 | $80.9K | 777 | 0 |
| BIDU | CALL | SWEEP | BULLISH | 12/15/23 | $95.00 | $55.8K | 777 | 0 |
| BIDU | PUT | TRADE | BULLISH | 01/17/25 | $125.00 | $53.0K | 598 | 40 |
| BIDU | PUT | SWEEP | BEARISH | 01/17/25 | $125.00 | $53.0K | 598 | 20 |
| BIDU | PUT | SWEEP | BEARISH | 01/17/25 | $125.00 | $53.0K | 598 | 0 |
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.
Current Position of Baidu
- With a trading volume of 1,274,930, the price of BIDU is down by -1.91%, reaching $107.2.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 4 days from now.
What Analysts Are Saying About Baidu
3 market experts have recently issued ratings for this stock, with a consensus target price of $177.66666666666666.
- An analyst from JP Morgan has decided to maintain their Overweight rating on Baidu, which currently sits at a price target of $185.
- An analyst from Barclays persists with their Overweight rating on Baidu, maintaining a target price of $138.
- An analyst from Benchmark downgraded its action to Buy with a 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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