Market Whales and Their Recent Bets on 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 9 uncommon options trades for Deere.

This isn't normal.

The overall sentiment of these big-money traders is split between 44% bullish and 44%, bearish.

Out of all of the special options we uncovered, 3 are puts, for a total amount of $103,620, and 6 are calls, for a total amount of $317,560.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $300.0 and $450.0 for Deere, spanning the last three months.

Analyzing Volume & Open Interest

In today's trading context, the average open interest for options of Deere stands at 463.12, with a total volume reaching 346.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Deere, situated within the strike price corridor from $300.0 to $450.0, throughout the last 30 days.

Deere Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

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.

After a thorough review of the options trading surrounding Deere, we move to examine the company in more detail. This includes an assessment of its current market status and performance.

Where Is Deere Standing Right Now?

• Trading volume stands at 1,239,183, with DE's price up by 1.07%, positioned at $377.25.
• RSI indicators show the stock to be may be approaching overbought.
• Earnings announcement expected in 96 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 $409.2.

• An analyst from BMO Capital downgraded its action to Market Perform with a price target of $400.
• An analyst from Truist Securities has revised its rating downward to Buy, adjusting the price target to $443.
• Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Deere, targeting a price of $395.
• An analyst from Oppenheimer has decided to maintain their Outperform rating on Deere, which currently sits at a price target of $448.
• An analyst from JP Morgan persists with their Neutral rating on Deere, maintaining a target price of $360.

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.