Deep-pocketed investors have adopted a bearish approach towards Deere DE, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 15 extraordinary options activities for Deere. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 40% leaning bullish and 60% bearish. Among these notable options, 12 are puts, totaling $679,827, and 3 are calls, amounting to $120,610.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $370.0 to $400.0 for Deere over the last 3 months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Deere stands at 931.2, with a total volume reaching 1,600.00. 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 $370.0 to $400.0, throughout the last 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 | PUT | SWEEP | BULLISH | 01/19/24 | $380.00 | $72.0K | 1.6K | 0 |
| DE | PUT | SWEEP | BULLISH | 01/19/24 | $380.00 | $71.4K | 1.6K | 33 |
| DE | PUT | SWEEP | BULLISH | 01/19/24 | $380.00 | $71.2K | 1.6K | 66 |
| DE | PUT | TRADE | NEUTRAL | 01/19/24 | $370.00 | $58.3K | 923 | 214 |
| DE | PUT | TRADE | NEUTRAL | 01/19/24 | $370.00 | $56.8K | 923 | 79 |
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.
Current Position of Deere
- Trading volume stands at 575,796, with DE's price down by -1.09%, positioned at $369.91.
- RSI indicators show the stock to be may be approaching oversold.
- Earnings announcement expected in 9 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.
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