Option Bulls Barrage Baidu, Inc. (BIDU)

Baidu Inc (ADR) (NASDAQ:BIDU) is nearly 2% higher this morning at $207.14, after announcing a partnership with KKR & Co. L.P. (NYSE:KKR) and Coatue in the used car space. The news has traders rushing into BIDU's options pits, where intraday volume is running at 1.8 times normal levels.

Seeing the most action are the March 205 and 210 calls. A number of indicators suggest these bets are being bought to open, as speculators gamble on BIDU trekking higher through week's end, when the front-month options expire.

Technically speaking, the shares have rallied over the long-haul, up 29% year-over-year. What's more, BIDU is currently consolidating atop its rising 50-week moving average, which acted as support this time last year -- and could again usher the stock higher.

It's also worth noting that the equity's front-month gamma-weighted Schaeffer's put/call open interest ratio (SOIR) of 1.24 indicates near-the-money put open interest outweighs call open interest in the March-dated series. As these positions unwind ahead of expiration, it could provide Baidu Inc (NASDAQ:BIDU) with another foothold.