Smart Money Is Betting Big In Deere Options

Investors with a lot of money to spend have taken a bullish stance on Deere DE.

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with DE, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for Deere.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 27%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $480,610, and 5 are calls, for a total amount of $178,362.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $330.0 and $430.0 for Deere, spanning the last three months.

Insights into 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 $330.0 to $430.0 in the last 30 days.

Deere Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

About Deere

Deere is the world's leading manufacturer of agricultural equipment, producing some of the most recognizable machines in the heavy machinery industry in their green and yellow livery. 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.

Where Is Deere Standing Right Now?

• Trading volume stands at 641,079, with DE's price up by 4.34%, positioned at $385.42.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 21 days.

Expert Opinions on Deere

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $415.4.

• An analyst from Raymond James downgraded its action to Outperform with a price target of $420.
• An analyst from Oppenheimer has decided to maintain their Outperform rating on Deere, which currently sits at a price target of $448.
• Consistent in their evaluation, an analyst from Truist Securities keeps a Buy rating on Deere with a target price of $439.
• Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Deere with a target price of $375.
• In a cautious move, an analyst from Citigroup downgraded its rating to Neutral, setting a price target of $395.

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.