Deep-pocketed investors have adopted a bullish 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 13 extraordinary options activities for Deere. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 53% leaning bullish and 46% bearish. Among these notable options, 3 are puts, totaling $180,917, and 10 are calls, amounting to $608,994.
What's The Price Target?
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $200.0 to $430.0 for Deere during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Deere's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Deere's whale activity within a strike price range from $200.0 to $430.0 in the last 30 days.
Deere Call and Put Volume: 30-Day Overview
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DE | CALL | TRADE | BEARISH | 06/21/24 | $200.00 | $277.6K | 31 | 0 |
| DE | PUT | TRADE | BULLISH | 01/16/26 | $400.00 | $100.0K | 72 | 20 |
| DE | CALL | SWEEP | BULLISH | 03/22/24 | $355.00 | $56.9K | 22 | 20 |
| DE | CALL | TRADE | BEARISH | 09/20/24 | $430.00 | $44.6K | 140 | 64 |
| DE | PUT | SWEEP | BULLISH | 04/19/24 | $382.50 | $41.5K | 0 | 63 |
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.
Current Position of Deere
- With a trading volume of 456,403, the price of DE is up by 0.16%, reaching $384.0.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 60 days from now.
What The Experts Say On Deere
2 market experts have recently issued ratings for this stock, with a consensus target price of $440.5.
- Consistent in their evaluation, an analyst from Evercore ISI Group keeps a In-Line rating on Deere with a target price of $387.
- Reflecting concerns, an analyst from Truist Securities lowers its rating to Buy with a new price target of $494.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for Deere, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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