Making a run at 90 day highs here. Technically looks very nice. I got calls. Excerpt from TradingMarkets.com Baidu.com (NasdaqGS:BIDU - News) is due to report first-quarter results after the close on Monday. Analysts expect China's top Internet search company to report earnings of $0.75 per share, up from $0.60 a year ago, on revenue of $115.2 million. Shares have gained 63% since the beginning of the year as advertising sales start to pick up. On April 17, the company it had seen a significant rise in advertising since late January, as business sentiment improved in the world's third largest economy. Baidu is one for longs to watch as the stock has shown a strong tendency in the near-term to widen its next-day share move following its post-earnings share performance in the preceding evening session. It's done so four out of the last four quarters MidnightTrader.com has tracked. Three out of four of those moves were to the upside. On February 18, shares rose 0.7% in the after-hours and widened the next day, ending up 3.5%.
looks good. Too bad this was not a stronger green day for the overall markets. My $250 May calls are now up like 35% since I bought them last week. Eventhough the PPS has moved strong in that time frame, I payed a high pre-earnings price for the IV on the calls. Now today IV has gotten crushed with this release. So I am going to sell half the calls here and let the rest run a bit.
I just unloaded the remaining half of the $250 calls for an additional 50% gain on top of the initial 35% profit margin. PPS has been very strong the last couple days here, but I do not want to stick around too long.