Traders buy up Baidu calls
Traders are making bullish bets on shares of Baidu (BIDU) Wednesday. So far, 1,991 contracts of the March 310 call have changed hands, against open interest of 392. Pricing has been in the high half of the spread all day, indicating that these new contracts were initiated from the buy side.
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About Baidu Inc.
Baidu is the largest Internet search engine in China with mid-70s mobile traffic share in the search market. The firm generates 86% of revenue from online marketing services and the rest from other segments. Baidu is a technology-driven company and has been investing in artificial intelligence technology, such as autonomously driven cars.