Looking At Deere's Recent Unusual Options Activity

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 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 8 uncommon options trades for Deere.

This isn't normal.

The overall sentiment of these big-money traders is split between 25% bullish and 62%, bearish.

Out of all of the special options we uncovered, 6 are puts, for a total amount of $312,130, and 2 are calls, for a total amount of $101,550.

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 $380.0 to $460.0 for Deere over the last 3 months.

Insights into Volume & Open Interest

In today's trading context, the average open interest for options of Deere stands at 269.0, with a total volume reaching 396.00. 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 $380.0 to $460.0, throughout the last 30 days.

Deere Call and Put Volume: 30-Day Overview

Significant Options Trades Detected:

About Deere

Deere is the world's leading manufacturer of agricultural equipment, producing some of the most recognizable machines in the heavy machinery industry in their green and yellow livery. 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 437,046, the price of DE is up 0.59% at $378.18.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 84 days.

Professional Analyst Ratings for Deere

In the last month, 5 experts released ratings on this stock with an average target price of $403.4.

• An analyst from Truist Securities downgraded its action to Buy with a price target of $443.
• In a cautious move, an analyst from BMO Capital downgraded its rating to Market Perform, setting a price target of $400.
• An analyst from JP Morgan persists with their Neutral rating on Deere, maintaining a target price of $360.
• Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for Deere, targeting a price of $425.
• An analyst from Deutsche Bank has decided to maintain their Hold rating on Deere, which currently sits at a price target of $389.

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.