Dan Passarelli Analysis: Opportunity for a Bull Call Spread in BIDU

Dan Passarelli talks about a trade in BIDU. BIDU took off after earnings last week and continues to look strong.
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In today's Traders Exclusive, Dan Passarelli discusses a trade taken today in BIDU. Following a strong earnings report, BIDU stock has accelerated beyond the $230 breakout level, positioning well for continued gains into the new month. Passarelli likes the November 240/250 bull call spread as a way to play for a steady rise in the stock over the coming weeks. At $5 or less, the position offers potential for a 100% gain with relatively low risk given the setup in the stock following its earnings release. Momentum should continue as negative catalysts in the near term are unlikely.