The market is making a comeback as the Dow is down only 35 points and is back over 8,000. The financial stocks continue to shine but some of the China stocks are booming as well.
Baidu.com (BIDU, $199.61, up $9.29) looks like it will take $200 out today and Sohu.com (SOHU, $50.09, up $1.98) is up nearly 5%.
Shanda Inteactive Entertainment (SNDA, $49.45, up $3.04), a China gaming play, continues to set 52-week highs. The May 50 calls (QKUEJ, $3.40, up $1.40) have traded nearly 4,000 contracts today and are up 70%. The calls opened at $2.25 and have traded as high as $3.80.
We’ve got a lot going on right now so I wouldn’t suggest getting into any of these trades but they have been hot.