Deep-pocketed investors have adopted a bullish 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 66% leaning bullish and 33% bearish. Among these notable options, 4 are puts, totaling $743,575, and 11 are calls, amounting to $449,943.
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 $310.0 to $380.0 for Deere during the past quarter.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Deere options trades today is 441.1 with a total volume of 972.00.
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 $310.0 to $380.0 over 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 | TRADE | BULLISH | 01/17/25 | $380.00 | $623.2K | 1.0K | 150 |
| DE | PUT | TRADE | BULLISH | 01/17/25 | $380.00 | $62.3K | 1.0K | 165 |
| DE | CALL | TRADE | BULLISH | 01/19/24 | $360.00 | $60.6K | 710 | 212 |
| DE | CALL | SWEEP | NEUTRAL | 01/19/24 | $360.00 | $57.2K | 710 | 70 |
| DE | CALL | TRADE | BEARISH | 03/15/24 | $370.00 | $52.1K | 305 | 95 |
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.
Deere's Current Market Status
- With a trading volume of 1,080,954, the price of DE is up by 1.52%, reaching $364.85.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 65 days from now.
What The Experts Say On Deere
In the last month, 2 experts released ratings on this stock with an average target price of $380.0.
- An analyst from Canaccord Genuity persists with their Hold rating on Deere, maintaining a target price of $375.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Deere with a target price of $385.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Deere options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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