Just last week, I noted the odd buying of BIDU puts... deep in the money March 125 puts. BIDU today is down over $5. I am dumping my BIDU March100 puts which I have held at times with great, great discomfort, bought at $1.50 with an order to sell at $6.30. After earnings my original call was for the stock to drop to the $92 area or its 200 day moving average, but taking profits now just a few days before expiration is the wise thing to do.
NEVER trust an internet company that, 1) uses a tax benefit to beef up EPS, and 2) fails to grow sequential revenue.