Financial giants have made a conspicuous bullish move on Baidu. Our analysis of options history for Baidu BIDU revealed 10 unusual trades.
Delving into the details, we found 80% of traders were bullish, while 10% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $394,496, and 7 were calls, valued at $224,664.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $70.0 and $115.0 for Baidu, spanning the last three months.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of Baidu stands at 2300.33, with a total volume reaching 1,292.00. 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 $70.0 to $115.0, throughout the last 30 days.
Baidu Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| BIDU | PUT | SWEEP | BULLISH | 12/20/24 | $31.9 | $29.85 | $31.9 | $115.00 | $248.7K | 430 | 78 |
| BIDU | PUT | TRADE | BEARISH | 10/18/24 | $2.44 | $2.31 | $2.44 | $80.00 | $73.2K | 1.6K | 7 |
| BIDU | PUT | SWEEP | BULLISH | 09/20/24 | $7.3 | $7.25 | $7.25 | $90.00 | $72.5K | 7.9K | 100 |
| BIDU | CALL | SWEEP | BULLISH | 01/17/25 | $3.15 | $3.05 | $3.15 | $100.00 | $42.1K | 3.1K | 146 |
| BIDU | CALL | SWEEP | BULLISH | 10/18/24 | $1.91 | $1.91 | $1.91 | $90.00 | $34.9K | 3.9K | 335 |
About Baidu
Baidu is the largest internet search engine in China with over 50% share of the search engine market in 2024 per web analytics firm, Statcounter. The firm generated 72% of core revenue from online marketing services from its search engine in 2023. 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.
Present Market Standing of Baidu
- Trading volume stands at 537,639, with BIDU's price up by 0.75%, positioned at $83.0.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 75 days.
What The Experts Say On Baidu
5 market experts have recently issued ratings for this stock, with a consensus target price of $120.8.
- An analyst from Bernstein has decided to maintain their Outperform rating on Baidu, which currently sits at a price target of $130.
- Maintaining their stance, an analyst from Loop Capital continues to hold a Buy rating for Baidu, targeting a price of $115.
- Maintaining their stance, an analyst from Jefferies continues to hold a Buy rating for Baidu, targeting a price of $139.
- Consistent in their evaluation, an analyst from Susquehanna keeps a Positive rating on Baidu with a target price of $105.
- An analyst from Barclays persists with their Overweight rating on Baidu, maintaining a target price of $115.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Baidu, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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