I got 5 for average of 12.6 today
It had a run from 318 to 402.
I had to get 5 puts for pullback before earnings
Just looking for 5-10% pullback before run to 450...
IT got to go down to 380 at least short term
So, lets see how this trade works out for me
True, puts will lose value if price is not changing much.
I do expect BIDU to drop up to 15% from 400 level. I mean, just look at the chart. (1 yr,2yr, 5yr), look at that slope - 45degrees and higher. Nothing goes up at that level with out nice big pullback.
BIDU is ahead of it self short term. I expect 370 or below to be tested within next week or two.
Pullback to 350-360 would be healthy before next run to 450+ but we will see how it plays out
Chart dont lie, even pullback to 340 is likely, 350-370 is very likely
Get out fast on the temporary pullback my friend...Bidu could go as high as 520 prior to earning. In case of a + earning surprise, it could hit 600 and in case of a split announcement it could hit 1200.
Well i rather get puts on this point than jump on this overbought train and buy calls.
It is going back to 350-370 sooner or later. I just hope it happens before OCT OE.
We will see.
You are another person that is too bullish on this stock and you will learn and see how this thing will sink, especially with correction (if it occurs), it could go as low as 320-340 range.
But you stay bullish after 25% run in 8 days.
Long term, you are right, this stock will be 500,...shorter term, it will go back to350 sooner or later
I like to be slightly out of money - thats all
Higher risk and higher return and also after over 20% run, i expect some pullback (5-7%) taking it down to around 375-380 level short term...
However as soon as that level is hit (375-380), i plan to sell to close and go into NOV/DEC Calls for earnings play
RIght now, i think market and especially BIDU are ahead of them selfs.
I really think BIDU at 25% current run over last 9 days, is a safe PUT trade. Small 2-7% is probably healthy for stock to move higher, but then if correction occurs (10-15%) is most likely to happen with BIDU.
So, thats what/why i play puts and decided today to get some.
AAPL is better play than BIDU at this time, but i dont mess with AAPL and i dont know aapl as much as i know GOOG and BIDU.
Short term, there is no way i can go long on any TECH stocks. Everything is overbought SHORT TERM
GOOD LUCK folks
There are no significant news for the next two days, you guys still think BIDU will go down by Friday?
The pull back might take place next week, this week it looks like a choppy ride to new high - may be $420 for Bidu and $505 for GOOG.
Bonjour Eurosasa: How do you enjoy the Google calls today? Must be very profitable, eh?
What is your game plan for Baidu and Google at this stage? They both still go up ... or they are "tired" now and get ready to "throw the towel" and come down to earth?
The market looks awfully strong to me. I think a new bull market is coming waving "hello" to all of us, eh?
when everyone is bullish, that is the time to watch out.
i profited today on google calls but i had to buy few puts on bidu. it went from 318-402 in 8-9 trading days.
i expect bidu to pullback up to 10% from here while google might pullback 3-4%.
i am keeping goog long for little more but bidu is on d way down to 360-370 level is my guess.
we will see what happens