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 15 options trades for Deere.
This isn't normal.
The overall sentiment of these big-money traders is split between 46% bullish and 53%, bearish.
Out of all of the options we uncovered, 14 are puts, for a total amount of $674,193, and there was 1 call, for a total amount of $26,421.
What's The Price Target?
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $370.0 to $380.0 for Deere over the recent three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $370.0 to $380.0 in the last 30 days.
Deere Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DE | PUT | SWEEP | BULLISH | 03/15/24 | $380.00 | $56.9K | 402 | 75 |
| DE | PUT | TRADE | BULLISH | 01/19/24 | $380.00 | $53.9K | 1.7K | 261 |
| DE | PUT | SWEEP | BULLISH | 01/19/24 | $380.00 | $53.4K | 1.7K | 3 |
| DE | PUT | TRADE | BULLISH | 01/19/24 | $380.00 | $53.2K | 1.7K | 195 |
| DE | PUT | TRADE | NEUTRAL | 01/19/24 | $380.00 | $52.6K | 1.7K | 163 |
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.
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.
Present Market Standing of Deere
- Trading volume stands at 167,310, with DE's price down by -0.85%, positioned at $367.6.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 84 days.
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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