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 29 uncommon options trades for Baidu.
This isn't normal.
The overall sentiment of these big-money traders is split between 58% bullish and 41%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $359,257, and 21 are calls, for a total amount of $1,025,684.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $85.0 to $120.0 for Baidu over the last 3 months.
Volume & Open Interest Trends
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $85.0 to $120.0 in the last 30 days.
Baidu Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BIDU | CALL | TRADE | BEARISH | 01/17/25 | $110.00 | $93.0K | 690 | 4 |
| BIDU | PUT | SWEEP | BULLISH | 04/19/24 | $95.00 | $83.9K | 5.7K | 472 |
| BIDU | CALL | SWEEP | BEARISH | 03/15/24 | $105.00 | $79.8K | 3.7K | 1.3K |
| BIDU | CALL | TRADE | BEARISH | 03/22/24 | $95.00 | $79.2K | 177 | 118 |
| BIDU | CALL | SWEEP | BULLISH | 06/21/24 | $120.00 | $73.1K | 2.4K | 225 |
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.
Where Is Baidu Standing Right Now?
- Trading volume stands at 1,817,024, with BIDU's price up by 2.05%, positioned at $100.28.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 64 days.
Expert Opinions on Baidu
1 market experts have recently issued ratings for this stock, with a consensus target price of $133.0.
- Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on Baidu with a target price of $133.
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.
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