Deep-pocketed investors have adopted a bullish approach towards Baidu BIDU. Market players shouldn’t ignore this significant movement. Uncovered through the public options records at Benzinga, the identity of these investors remains shrouded in mystery, but a substantial move in BIDU typically foretells a major event.
Today, Benzinga’s options scanner uncovered 9 unusual options activities for Baidu, a level of activity that deviates from the norm.
The mood amongst these heavyweight investors appears to be split, with 55% leaning bullish and 44% bearish. Notable options include 5 puts amounting to $385,887 and 4 calls totaling $158,728.
Projections for Price Targets
Delving into the Volume and Open Interest in these contracts suggests that big players have been eyeing a price range of $90.0 to $125.0 for Baidu over the past quarter.
Analysis of Volume & Open Interest
Analyzing the volume and open interest is key in unveiling vital insights into stock research. This data is crucial in assessing liquidity and interest levels for Baidu’s options at specific strike prices. Here’s a snapshot of the trends in volume and open interest for calls and puts within a strike price range of $90.0 to $125.0 over the past month.
Baidu 30-Day Option Volume & Interest Snapshot
Remarkable Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| BIDU | PUT | TRADE | BEARISH | 09/20/24 | $90.00 | $189.9K | 478 | 301 |
| BIDU | PUT | SWEEP | BEARISH | 06/21/24 | $115.00 | $65.3K | 1.2K | 60 |
| BIDU | PUT | TRADE | BULLISH | 03/15/24 | $105.00 | $48.5K | 4.5K | 178 |
| BIDU | CALL | TRADE | BULLISH | 03/15/24 | $110.00 | $48.4K | 3.5K | 137 |
| BIDU | PUT | SWEEP | BULLISH | 03/15/24 | $100.00 | $46.5K | 3.5K | 147 |
About Baidu
Baidu commands 84% of the search engine market share in China as of September 2021, according to web analytics firm, Statcounter. In 2022, the company derived 72% of its core revenue from online marketing services from its search engine. Beyond its search engine, Baidu is a technology-oriented firm with significant growth initiatives in artificial intelligence cloud, video streaming services, voice recognition technology, and autonomous driving.
Having scrutinized the options trading patterns of Baidu, attention now turns to the company’s present market position and performance.
Current Standing of Baidu
- With a volume of 1,710,810, BIDU is down -2.32% at $105.26.
- RSI indicators hint at a potential oversold status for the underlying stock.
- The next earnings report is expected to be released in 22 days.
Options are a riskier asset compared to trading the stock alone, but they offer higher profit potential. Serious options traders manage this risk through continuous education, scaling in and out of trades, monitoring multiple indicators, and keeping abreast of market movements.
For those seeking the latest options trades for Baidu, Benzinga Pro provides real-time options trade alerts.