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 18 extraordinary options activities for Baidu. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 61% leaning bullish and 38% bearish. Among these notable options, 3 are puts, totaling $363,400, and 15 are calls, amounting to $2,061,801.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $75.0 to $130.0 for Baidu during the past quarter.
Insights into 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 $75.0 to $130.0 in the last 30 days.
Baidu Option Volume And Open Interest Over Last 30 Days
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 | $75.00 | $775.2K | 28 | 435 |
| BIDU | CALL | SWEEP | BULLISH | 01/17/25 | $75.00 | $367.2K | 28 | 108 |
| BIDU | CALL | TRADE | BULLISH | 01/17/25 | $75.00 | $306.0K | 28 | 525 |
| BIDU | CALL | SWEEP | BULLISH | 01/17/25 | $130.00 | $157.3K | 598 | 234 |
| BIDU | PUT | TRADE | BULLISH | 09/20/24 | $110.00 | $139.0K | 1.1K | 100 |
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.
Having examined the options trading patterns of Baidu, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of Baidu
- With a trading volume of 3,354,951, the price of BIDU is up by 2.01%, reaching $104.23.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 50 days from now.
Expert Opinions on Baidu
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $133.0.
- An analyst from Barclays has decided to maintain their Overweight rating on Baidu, which currently sits at a price target 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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