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 positions 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.
Today, Benzinga's options scanner spotted 11 options trades for Baidu.
This isn't normal.
The overall sentiment of these big-money traders is split between 81% bullish and 18%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $177,450, and 10, calls, for a total amount of $433,810.
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 $150.0 for Baidu during the past quarter.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Baidu's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Baidu's substantial trades, within a strike price spectrum from $80.0 to $150.0 over the preceding 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 | BULLISH | 01/16/26 | $59.2 | $59.15 | $59.15 | $150.00 | $177.4K | 0 | 0 |
| BIDU | CALL | TRADE | BULLISH | 08/02/24 | $8.25 | $7.9 | $9.25 | $80.00 | $92.5K | 154 | 0 |
| BIDU | CALL | TRADE | BEARISH | 08/16/24 | $2.44 | $2.41 | $2.41 | $95.00 | $48.2K | 1.8K | 8 |
| BIDU | CALL | TRADE | BULLISH | 08/02/24 | $9.1 | $9.1 | $9.1 | $80.00 | $45.5K | 154 | 100 |
| BIDU | CALL | SWEEP | BULLISH | 08/16/24 | $4.05 | $3.65 | $4.05 | $90.00 | $40.5K | 4.1K | 113 |
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 volume of 137,255, the price of BIDU is up 1.77% at $88.41.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 48 days.
What Analysts Are Saying About Baidu
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $130.0.
- An analyst from Loop Capital has decided to maintain their Buy rating on Baidu, which currently sits at a price target of $130.
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.
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