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How BIDU's implied volatility ramps into the print
The IV Rush Radar records at-the-money IV twice a day for the last five sessions before every Baidu Inc report. Its most recent release (May 18, 2026) looked like this — IV at each 4pm close, versus the -5d morning reading of 66%:
| Session | ATM IV | vs -5d open |
|---|---|---|
| -5d 4pm | 79% | +20% |
| -4d 4pm | 82% | +25% |
| -3d 4pm | 90% | +37% |
| -2d 4pm | 80% | +22% |
| -1d 4pm | 70% | +6% |
Across all 8 tracked reports the five-session ramp averaged +55% and the last day alone +9%.
| Report | IV at -5d | IV at last close | Ramp |
|---|---|---|---|
| May 18, 2026 | 66% | 70% | +6% |
| Aug 20, 2025 | ▮▮% | ▮▮▮% | +▮▮% |
| May 21, 2025 | ▮▮% | ▮▮▮% | +▮▮% |
| Feb 18, 2025 | ▮▮% | ▮▮▮% | +▮▮% |
Why "just buy calls before earnings" usually loses even when you're right
Everything the market expects is already in the premium: implied volatility peaks at the last close before the report and collapses the moment the numbers are out. A call bought the night before needs the stock to move more than the implied move in the right direction just to break even — a smaller-than-priced move loses money on both calls and puts. Our IV crush guide walks through the mechanics; the expected-move calculator turns a straddle price into the break-even you'd need.
Buying the BIDU straddle at the last close and holding through: 2 of 15 paid
The backtester replays a long ATM straddle entered at the last close before each of Baidu Inc's last 15 reports and marked at the reaction-day close — real contract prices, not theory. Long vol won 2 of 15; short vol is the mirror image.
| Report | Straddle at entry | At reaction close | Long-vol P&L |
|---|---|---|---|
| May 18, 2026 | $10.50 | $7.60 | -28% |
| Feb 26, 2026 | $8.45 | $8.48 | +0% |
| Nov 18, 2025 | $▮▮.▮▮ | $▮▮.▮▮ | ▮▮% |
| Aug 20, 2025 | $▮▮.▮▮ | $▮▮.▮▮ | ▮▮% |
| May 21, 2025 | $▮▮.▮▮ | $▮▮.▮▮ | ▮▮% |
Frequently asked questions
Should I buy BIDU before earnings?
That is a decision only you can make, and this page does not give advice. What the data says: options price a move of about ±7.4% on average, so a long call or put needs Baidu Inc to move more than that in the right direction to profit after IV crush. Implied volatility has climbed +55% on average over the final five sessions, which is why some traders trade the ramp itself and exit before the print.
Does BIDU implied volatility go up before earnings?
Usually. Across Baidu Inc's last 8 reports at-the-money IV rose into the print 8 times, averaging +55% from five sessions out to the last close, with the last day alone averaging +9%. Into its May 18, 2026 report IV went from 66% to 70%.
When does BIDU IV peak before earnings?
At the last close before the report — the final session before the print carries the biggest step for most names, which is why an IV-rush trade is exited before that close and never held through the announcement.
What is BIDU's implied move for the next earnings?
The next Baidu Inc report is not confirmed yet. Its 10-year average earnings move is about ±7.4%; the live implied move appears on the BIDU implied-move page as soon as the date is set.
