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BAIDU INC

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89888 trade ideas

BOUGHT TO CLOSE BIDU MAR 18TH 152.5/157.5/180/185 IRON CONDORClosed this setup at 50% max profit (for the rolled setup) ($62.58/contract). It doesn't entirely make up for my early bobble of BIDU's earnings announcement date (first they said it was 2/10; then it was 2/25), but I'll take it here going into Draghi/FOMC. Here's the entire chain: 2/25 Sold March 8th 132/137/177.5/182.5 iron condor for a $131 credit 2/26 Bought the 132/137 short put vert back for a $9 debit (post earnings announcement; near worthless) 2/29 Rolled the 177.5/182.5 short call vert to the March 18th 180/185 short call vertical for a $17 credit (price too close to short call strike with limited DTE) 2/29 Sold the March 18th 152.5/157.5 short put vertical for a $48 credit (this wasn't strictly necessary, since I received a credit for the roll of the short call side; I just wanted some protection there if price continued to shoot off into the ether). 3/9 Bought to close the March 18th 152.5/157.5/180/185 Iron Condor for a $106 debit. Total credits minus total debits minus fees and commissions = $62.58/contract, not quite 50% max profit of the original setup, but close enough considering that I had to roll and that it was supposed to be one of those ideal "inzee/outzee" earnings plays ... .
NASDAQ:BIDU
by NaughtyPines
BIDU EARNINGS: MARCH 4TH 136/141/185/190 IRON CONDORBIDU announces earnings after tomorrow's close, so look to put a setup on in the waning hours of the NY sesh. Now that I've got the earnings date correct (they previously "tentatively" announced a 2/10 earnings release -- sooooo annoying), here's the metrics for the setup: BIDU Mar 4th 136/141/185/190 iron condor Probability of Profit: 70% Max Profit: $125/contract Buying Power Effect: $375/contract Notes: Naturally, you may need to tweak the setup given the underlying's price movement during the session ... .
NASDAQ:BIDU
by NaughtyPines
BIDU EARNINGS PLAYSBIDU announces earnings "some time tomorrow", so it could be either before or after market; if you want to play it, look to put on a setup before today's market close. One thing I would note is that the bid/ask spreads aren't that great, implying that the options' liquidity isn't the best in the world, so I would look to put on a play at the mid price, but not to chase price ... . In any event, here are the setups: For the folks who like to "go naked": Feb 19th 124/157.5 short strangle Probability of Profit %: 72% Max Profit: $225/contract Buying Power Effect: Undefined For those who are "more shy" or of a defined risk bent (I've gone out a little farther in time because I can't get the long option strikes I want for a symmetrical setup in the Feb 19th expiry): Feb 26th 115/120/165/170 iron condor Probability of Profit %: 70% Max Profit: $117/contract Buying Power Effect: $382 Look to take off the entire setup at 50% max profit or a single side nearing worthless. In the event a side is tested, look to roll that side out to a later expiry and sell and oppositional side against the rolled out option(s) for a credit that exceeds the cost of the roll of the tested side.
NASDAQ:BIDU
by NaughtyPines
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