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 13 uncommon options trades for Baidu.
This isn't normal.
The overall sentiment of these big-money traders is split between 53% bullish and 30%, bearish.
Out of all of the special options we uncovered, 8 are puts, for a total amount of $522,992, and 5 are calls, for a total amount of $261,631.
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 $80.0 to $165.0 for Baidu during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Baidu stands at 1876.12, with a total volume reaching 1,718.00. 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 $80.0 to $165.0, throughout the last 30 days.
Baidu Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BIDU | PUT | TRADE | BEARISH | 09/20/24 | $19.7 | $19.3 | $19.7 | $110.00 | $197.0K | 1.5K | 0 |
| BIDU | CALL | TRADE | BULLISH | 07/19/24 | $1.91 | $1.86 | $1.9 | $95.00 | $123.5K | 1.9K | 133 |
| BIDU | PUT | SWEEP | BULLISH | 12/20/24 | $21.85 | $21.3 | $21.35 | $110.00 | $72.6K | 614 | 34 |
| BIDU | PUT | TRADE | BEARISH | 12/20/24 | $21.35 | $21.15 | $21.35 | $110.00 | $72.5K | 614 | 0 |
| BIDU | CALL | SWEEP | BEARISH | 07/19/24 | $1.03 | $0.98 | $0.98 | $100.00 | $47.9K | 7.6K | 116 |
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
Present Market Standing of Baidu
- With a volume of 729,001, the price of BIDU is down -1.24% at $90.28.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 63 days.
What The Experts Say On Baidu
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $135.0.
- Maintaining their stance, an analyst from Susquehanna continues to hold a Positive rating for Baidu, targeting a price of $135.
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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
