Looking At Deere's Recent Unusual Options Activity

Investors with a lot of money to spend have taken a bullish stance on Deere (NYSE: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 these are institutions or just wealthy individuals, we don't know. But when something this big happens with DE, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 11 uncommon options trades for Deere.

This isn't normal.

The overall sentiment of these big-money traders is split between 63% bullish and 36%, bearish.

Out of all of the special options we uncovered, 5 are puts, for a total amount of $246,800, and 6 are calls, for a total amount of $208,713.

Projected Price Targets

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $350.0 to $400.0 for Deere over the recent three months.

Insights into Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Deere's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Deere's significant trades, within a strike price range of $350.0 to $400.0, over the past month.

Deere Option Volume And Open Interest Over Last 30 Days

Noteworthy Options Activity:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Strike Price	Total Trade Price	Open Interest	Volume
DE	PUT	SWEEP	BULLISH	03/01/24	$365.00	$66.0K	156	238
DE	PUT	TRADE	BULLISH	05/17/24	$390.00	$58.0K	32	21
DE	PUT	SWEEP	BULLISH	03/15/24	$380.00	$53.6K	1.9K	1
DE	CALL	TRADE	NEUTRAL	04/19/24	$380.00	$50.4K	768	132
DE	PUT	SWEEP	BULLISH	03/15/24	$390.00	$43.1K	1.0K	17

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.

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.

Current Position of Deere

With a volume of 675,519, the price of DE is down -0.31% at $363.54.
RSI indicators hint that the underlying stock may be approaching oversold.
Next earnings are expected to be released in 81 days.

What Analysts Are Saying About Deere

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $414.6.

An analyst from Wells Fargo persists with their Overweight rating on Deere, maintaining a target price of $425.
An analyst from Citigroup persists with their Buy rating on Deere, maintaining a target price of $435.
Consistent in their evaluation, an analyst from Deutsche Bank keeps a Hold rating on Deere with a target price of $401.
An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Deere, which currently sits at a price target of $387.
An analyst from Stifel has decided to maintain their Buy rating on Deere, which currently sits at a price target of $425.

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.

DEDeere & Co

$567.86-0.55%

Overview

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