Check Out What Whales Are Doing With BIDU – Baidu (NASDAQ:BIDU)
Baidu, the leading internet search engine in China, has caught the attention of deep-pocketed investors who are adopting a bullish approach towards the company. This significant move in Baidu’s options trading suggests that something big is on the horizon. While the identity of these investors remains unknown, their actions shouldn’t be ignored by market players.
Benzinga, a leading financial news and analysis platform, has been tracking public options records and uncovered 9 extraordinary options activities for Baidu. This level of activity is unusual and indicates a high level of interest in the stock.
The sentiment among these heavyweight investors is divided, with 55% leaning bullish and 44% bearish. Out of the notable options, 7 are puts, totaling $359,853, and 2 are calls, amounting to $61,000.
To get a better understanding of the projected price targets for Baidu, Benzinga evaluated the trading volumes and Open Interest. It is evident that the major market movers are focusing on a price band between $110.0 and $145.0 for Baidu, spanning the last three months.
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Baidu’s options at certain strike prices. Over the past month, there has been significant volume and open interest for calls and puts in the $110.0 to $145.0 strike price range.
Let’s take a look at some of the largest options trades observed for Baidu:
1. Symbol: BIDU
Type: PUT
Trade Type: SWEEP
Sentiment: BULLISH
Expiration Date: 06/21/24
Strike Price: $145.00
Total Trade Price: $122.4K
Open Interest: 538
Volume: 50
2. Symbol: BIDU
Type: PUT
Trade Type: SWEEP
Sentiment: BEARISH
Expiration Date: 12/15/23
Strike Price: $110.00
Total Trade Price: $63.9K
Open Interest: 1.4K
Volume: 1.5K
3. Symbol: BIDU
Type: PUT
Trade Type: TRADE
Sentiment: BULLISH
Expiration Date: 12/15/23
Strike Price: $110.00
Total Trade Price: $46.0K
Open Interest: 1.4K
Volume: 32
4. Symbol: BIDU
Type: PUT
Trade Type: SWEEP
Sentiment: BULLISH
Expiration Date: 12/15/23
Strike Price: $110.00
Total Trade Price: $43.2K
Open Interest: 1.4K
Volume: 1.1K
5. Symbol: BIDU
Type: CALL
Trade Type: TRADE
Sentiment: BULLISH
Expiration Date: 01/19/24
Strike Price: $120.00
Total Trade Price: $33.0K
Open Interest: 2.4K
Volume: 145
Baidu is not just a search engine; it is a technology-driven company with various growth initiatives. Apart from its search engine, Baidu is involved in artificial intelligence cloud, video streaming services, voice recognition technology, and autonomous driving. It holds an 84% share of the search engine market in China, according to web analytics firm Statcounter.
Taking a closer look at Baidu’s current market status and performance:
– The trading volume for BIDU stands at 729,290, with the stock price down by -1.88%, reaching $114.58.
– Current RSI values indicate that the stock may be approaching overbought territory.
– The next earnings report for Baidu is scheduled for 79 days from now.
According to 4 professional analysts, the average price target for Baidu is $169.75. Some of the analysts’ opinions include:
– An analyst from Susquehanna maintains a Positive rating on Baidu with a price target of $150.
– An analyst from Nomura Instinet upgrades the rating to Buy and sets a revised price target of $145.
– An analyst from Goldman Sachs maintains a Buy rating with a target price of $174.
– An analyst from Benchmark downgrades the rating to Buy and sets a price target of $210.
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.
In conclusion, the bullish approach of deep-pocketed investors towards Baidu is a significant development that shouldn’t be ignored. With a range of growth initiatives and a dominant position in the Chinese search engine market, Baidu has the potential to make big moves in the future.
