Someone with a lot of money to spend has taken a bullish stance on Baidu BIDU.

And retailers should know.

We noticed this today as the big position popped up in the publicly available options history we track here at Benzinga.

Whether this is an institution or just a wealthy person, we don’t know. But when something big happens with BIDU, it often means that someone knows that something is going to happen.

So how do we know what this whale just did?

Today, Benzinga’s options scanner detected 38 unusual options trades for Baidu.

This is not normal.

The general sentiment of these big money traders is split between 68% bullish and 31% bearish.

Of all the special options we discovered, 18 are puts, totaling $840,842, and 20 are calls, totaling $3,639,371.

What is the price target?

Taking into account the volume and open interest on these contracts, it appears that whales have been targeting a price range of $105.0 to $220.0 for Baidu for the past 3 months.

Volume & Open Interest Development

Watching volume and open interest is a powerful move when trading options. This data can help you track the liquidity and interest rates for Baidu’s options at a particular strike price. Below we can see the evolution of the volume and open interest of calls and puts respectively for all of Baidu’s whale trades within a strike price range of $105.0 to $220.0 over the past 30 days.

Baidu option volume and interest outstanding over the past 30 days

Biggest options spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike price Total trading price Open interest volume BIDU CALL SWEEP BULLISH 04-14-22 $140.00 $631.5K 1.4K 1.2K BIDU CALL SWEEP BULLISH 04-14-22 $140.00 $609.7K 1.4K 1.5K BIDU CALL SWEEP BULLISH 14-04-22 $140.00 $573.7K 1.4K 906 BIDU CALL SWEEP BULLISH 14-04-22 $140.00 $548.8K 1.4K 606 BIDU CALL SWEEP BULLISH 14-04-22 $140.00 $548.1K 1.4K 306

Where is Baidu now?

With a volume of 3,994,762 the price of BIDU is up 0.72% to $155.7. RSI indicators indicate that the underlying stock is approaching overbought. The next profit is expected to be released in 55 days.

What the experts say about Baidu:

China Renaissance has decided to maintain their buy rating on Baidu, which currently stands at a price target of $228. Susquehanna has decided to maintain their positive rating on Baidu, which currently stands at a price target of $200.

Options are a riskier asset compared to just trading the stock, but they have a higher earning potential. Serious options traders manage this risk by informing themselves on a daily basis, scaling in and out of trades, tracking more than one indicator and closely monitoring the markets.

This post Baidu whale trade spotted – Benzinga was original published at “https://www.benzinga.com/markets/options/22/03/26265710/baidu-whale-trades-spotted”