Bullish wagers on Baidu surge ahead of Q2 earnings report

New York

TRADERS are betting that Baidu Inc will skirt a global selloff in technology stocks and extend the biggest rally since October amid speculation that its investments in a group-deal site bolstered second-quarter revenue.

Demand for bullish calls on China's largest search engine has surged and the shares have risen 9.9 per cent in the two weeks through July 24. Options are implying a one-day move of 8.5 per cent in Baidu's stock after it posts results on July 27 at the close of US markets.