This Is What Whales Are Betting On Deere

Investors with a lot of money to spend have taken a bearish 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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with DE, it often means somebody knows something is about to happen.

Today, Benzinga's options scanner spotted 18 options trades for Deere.

This isn't normal.

The overall sentiment of these big-money traders is split between 38% bullish and 61%, bearish.

Out of all of the options we uncovered, 17 are puts, for a total amount of $2,431,485, and there was 1 call, for a total amount of $35,250.

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 $460.0 and $500.0 for Deere, spanning the last three months.

Insights into Volume & Open Interest

In terms of liquidity and interest, the mean open interest for Deere options trades today is 290.38 with a total volume of 2,710.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Deere's big money trades within a strike price range of $460.0 to $500.0 over the last 30 days.

Deere 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

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.

In light of the recent options history for Deere, it's now appropriate to focus on the company itself. We aim to explore its current performance.

Present Market Standing of Deere

• With a trading volume of 52,675, the price of DE is down by -1.9%, reaching $470.3.
• Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
• Next earnings report is scheduled for 56 days from now.

What The Experts Say On Deere

A total of 2 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $478.0.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Deere, which currently sits at a price target of $455. * An analyst from Baird downgraded its action to Neutral with a price target of $501.

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.