Jul. 14 at 3:36 PM
$BIDU taking a hit today, down almost 5% and about 7% over five days
No fresh news driving it, just a momentum selloff
Meanwhile, traders are jumping in with short-dated calls into Friday
7,554 contracts, around
$382K in sweeps, paying up for a quick bounce
But with no solid news backing it, feels more like a speculative play than a real reversal
Total options premium is only about
$516K in the past week
Light for a big name like
$BIDU
Looks like a tactical move, not a big conviction signal
Watch those short-term plays, folks