High-rolling investors have positioned themselves bearish on Deere DE, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in DE often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 10 options trades for Deere. This is not a typical pattern.
The sentiment among these major traders is split, with 30% bullish and 70% bearish. Among all the options we identified, there was one put, amounting to $27,200, and 9 calls, totaling $427,270.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $390.0 to $455.0 for Deere over the recent three months.
Insights into Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Deere's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Deere's substantial trades, within a strike price spectrum from $390.0 to $455.0 over the preceding 30 days.
Deere 30-Day Option Volume & Interest Snapshot
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DE | CALL | TRADE | BEARISH | 03/15/24 | $400.00 | $64.7K | 1.0K | 0 |
| DE | CALL | SWEEP | BEARISH | 03/15/24 | $400.00 | $61.5K | 1.0K | 34 |
| DE | CALL | TRADE | BEARISH | 01/19/24 | $397.50 | $56.0K | 206 | 52 |
| DE | CALL | TRADE | BEARISH | 01/19/24 | $397.50 | $55.5K | 206 | 102 |
| DE | CALL | TRADE | BEARISH | 01/19/24 | $397.50 | $47.7K | 206 | 0 |
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.
Following our analysis of the options activities associated with Deere, we pivot to a closer look at the company's own performance.
Deere's Current Market Status
- With a trading volume of 151,695, the price of DE is down by -0.34%, reaching $399.92.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 51 days from now.
Professional Analyst Ratings for Deere
Over the past month, 1 industry analysts have shared their insights on this stock, proposing an average target price of $385.0.
- Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Deere, targeting a price of $385.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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