Check Out What Whales Are Doing With Deere

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 30 uncommon options trades for Deere.

This isn't normal.

The overall sentiment of these big-money traders is split between 30% bullish and 36%, bearish.

Out of all of the special options we uncovered, 19 are puts, for a total amount of $1,515,342, and 11 are calls, for a total amount of $651,085.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $420.0 to $530.0 for Deere over the recent three months.

Volume & Open Interest Development

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 $420.0 to $530.0 over the preceding 30 days.

Deere 30-Day Option Volume & Interest Snapshot

Largest Options Trades Observed:

About Deere

Deere is the world's leading manufacturer of agricultural equipment and a major producer of construction machinery. The company is divided into four reporting segments: production & precision agriculture (PPA), small agriculture & turf (SAT), construction & forestry (CF), and financial services (FS), its captive finance subsidiary. The core PPA business is the largest contributor to sales and profits by far. Geographically, Deere sales are 60% US/Canada, 17% Europe, 14% Latin America, and 9% rest of world. Deere goes to market through a robust dealer network that includes over 2,000 dealer locations in North America with reach into over 100 countries. John Deere financial provides retail financing for machinery to its customers and wholesale financing for dealers.

Deere's Current Market Status

• Currently trading with a volume of 1,605,623, the DE's price is down by -0.95%, now at $461.4.
• RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
• Anticipated earnings release is in 72 days.

What Analysts Are Saying About Deere

5 market experts have recently issued ratings for this stock, with a consensus target price of $496.4.

Unusual Options Activity Detected: Smart Money on the Move

Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Citigroup persists with their Neutral rating on Deere, maintaining a target price of $480. * An analyst from JP Morgan has decided to maintain their Neutral rating on Deere, which currently sits at a price target of $500. * An analyst from Baird has revised its rating downward to Neutral, adjusting the price target to $501. * An analyst from Truist Securities has revised its rating downward to Buy, adjusting the price target to $546. * An analyst from Evercore ISI Group has decided to maintain their In-Line rating on Deere, which currently sits at a price target of $455.

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.