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 72% bullish and 9%, bearish.
Out of all of the special options we uncovered, 3 are puts, for a total amount of $83,600, and 8 are calls, for a total amount of $1,987,816.
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 $450.0 to $490.0 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 $450.0 to $490.0 in the last 30 days.
Deere Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DE | CALL | TRADE | NEUTRAL | 01/15/27 | $98.0 | $92.6 | $95.3 | $470.00 | $857.7K | 2.1K | 160 |
| DE | CALL | SWEEP | BULLISH | 01/15/27 | $95.0 | $90.5 | $95.0 | $470.00 | $399.0K | 2.1K | 50 |
| DE | CALL | SWEEP | BULLISH | 01/15/27 | $94.5 | $90.55 | $94.5 | $470.00 | $255.1K | 2.1K | 100 |
| DE | CALL | SWEEP | BULLISH | 01/15/27 | $94.5 | $94.5 | $94.5 | $470.00 | $179.5K | 2.1K | 51 |
| DE | CALL | SWEEP | BULLISH | 01/15/27 | $96.95 | $96.9 | $96.95 | $470.00 | $164.8K | 2.1K | 149 |
About Deere
Deere is the world's leading manufacturer of agricultural equipment and a major producer of construction machinery. The company is divided into four reporting segments: production & precision agriculture (PPA), small agriculture & turf (SAT), construction & forestry (CF), and financial services (FS), its captive finance subsidiary. The core PPA business is the largest contributor to sales and profits by far. Geographically, Deere sales are 60% US/Canada, 17% Europe, 14% Latin America, and 9% rest of world. Deere goes to market through a robust dealer network that includes over 2,000 dealer locations in North America with reach into over 100 countries. John Deere financial provides retail financing for machinery to its customers and wholesale financing for dealers.
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.
Deere's Current Market Status
- With a volume of 76,301, the price of DE is down -0.4% at $485.64.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 78 days.
Expert Opinions on Deere
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $497.6.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Truist Securities has revised its rating downward to Buy, adjusting the price target to $546. * Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Deere, targeting a price of $500. * An analyst from Oppenheimer persists with their Outperform rating on Deere, maintaining a target price of $507. * Maintaining their stance, an analyst from Citigroup continues to hold a Neutral rating for Deere, targeting a price of $480. * An analyst from Evercore ISI Group persists with their In-Line rating on Deere, maintaining a target price of $455.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Deere with Benzinga Pro for real-time alerts.
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