My gut tells me that they'll keep this one down all the way to the close. Then after hour it'll trade up awaiting BIDU's reply.
I do believe the call/put ratio heavily favored the call so this is an interesting move today.
Tomorrow, the gap will largely be closed and the news will read "BIDU made a mistake and will fix it." Oversold condition with short covering. Analysts will likely downgrade and keep price target around $200-$300. This gives them an out...i.e. using silly negative press to cover their behind.
BIDU has been steadily declining since $320...so we're almost 60% down on a growth stock in China. Go figure.
If the company press release is lame, it could fall more tomorrow, although not much more from here.