Deep-pocketed investors have adopted a bearish approach towards Deere DE, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 12 extraordinary options activities for Deere. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 16% leaning bullish and 83% bearish. Among these notable options, 8 are puts, totaling $249,301, and 4 are calls, amounting to $170,860.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $340.0 to $400.0 for Deere during the past quarter.
Insights into Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Deere's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Deere's significant trades, within a strike price range of $340.0 to $400.0, over the past month.
Deere Option Activity Analysis: Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DE | CALL | SWEEP | BEARISH | 03/28/24 | $365.00 | $82.4K | 21 | 83 |
| DE | PUT | TRADE | NEUTRAL | 09/20/24 | $370.00 | $39.3K | 266 | 14 |
| DE | PUT | TRADE | BULLISH | 09/20/24 | $400.00 | $36.6K | 241 | 0 |
| DE | CALL | TRADE | BEARISH | 09/20/24 | $360.00 | $32.6K | 34 | 12 |
| DE | PUT | SWEEP | NEUTRAL | 01/16/26 | $360.00 | $32.1K | 19 | 10 |
About Deere
Deere is the world's leading manufacturer of agricultural equipment, producing some of the most recognizable machines in the heavy machinery industry. The company is divided into four reportable segments: production and precision agriculture, small agriculture and turf, construction and forestry, and John Deere Capital. Its products are available through an extensive dealer network, which includes over 2,000 dealer locations in North America and approximately 3,700 locations globally. John Deere Capital provides retail financing for machinery to its customers, in addition to wholesale financing for dealers, which increases the likelihood of Deere product sales.
Following our analysis of the options activities associated with Deere, we pivot to a closer look at the company's own performance.
Deere's Current Market Status
- Currently trading with a volume of 520,090, the DE's price is down by -0.67%, now at $362.22.
- RSI readings suggest the stock is currently may be approaching oversold.
- Anticipated earnings release is in 91 days.
Expert Opinions on Deere
A total of 1 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $425.0.
- An analyst from Stifel persists with their Buy rating on Deere, maintaining a target price of $425.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Deere options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
