I have some bidu dec 350 puts that I purchased on 12/03. In the interim, bidu ran up on the naz-100 inclusion news, but now the underlying is back down to exactly where I bought it. On today's down move, the calls near ATM have all lost $6-$7, but the puts have only gone up $1. Specifically, my 350's are only up .3, lagging break-even by $5, even though the underlying is now the same price as it was only 3 trading days ago. My question is, why are the puts not moving with the calls? I am obviously missing something. Is the time value eroding faster than I expect, or is it simply a reflection of overall bullishness about bidu? I am new to puts, so I would like to learn from this mistake. Thanks.