High-rolling investors have positioned themselves bearish on Baidu BIDU, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in BIDU often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for Baidu. This is not a typical pattern.
The sentiment among these major traders is split, with 37% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $31,517, and 7 calls, totaling $216,018.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $105.0 to $135.0 for Baidu over the recent three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Baidu stands at 507.25, with a total volume reaching 192.00. 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 $105.0 to $135.0, throughout the last 30 days.
Baidu 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BIDU | CALL | SWEEP | BEARISH | 06/21/24 | $115.00 | $46.1K | 495 | 0 |
| BIDU | CALL | SWEEP | NEUTRAL | 01/17/25 | $105.00 | $37.7K | 75 | 35 |
| BIDU | PUT | SWEEP | BULLISH | 12/29/23 | $110.00 | $31.5K | 369 | 3 |
| BIDU | CALL | SWEEP | NEUTRAL | 01/17/25 | $105.00 | $30.3K | 75 | 52 |
| BIDU | CALL | TRADE | BEARISH | 06/21/24 | $115.00 | $25.8K | 495 | 66 |
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
- With a trading volume of 1,090,711, the price of BIDU is down by -1.28%, reaching $112.66.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 65 days from now.
What The Experts Say On Baidu
5 market experts have recently issued ratings for this stock, with a consensus target price of $177.8.
- An analyst from Susquehanna persists with their Positive rating on Baidu, maintaining a target price of $150.
- An analyst from Benchmark has revised its rating downward to Buy, adjusting the price target to $210.
- In a positive move, an analyst from Nomura Instinet has upgraded their rating to Buy and adjusted the price target to $145.
- An analyst from Benchmark downgraded its action to Buy with a price target of $210.
- An analyst from Goldman Sachs has decided to maintain their Buy rating on Baidu, which currently sits at a price target of $174.
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.
© 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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