Deere's Options Frenzy: What You Need to Know

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 33% leaning bullish and 46% bearish. Among these notable options, 7 are puts, totaling $296,745, and 8 are calls, amounting to $279,756.

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 $420.0 to $570.0 for Deere over the last 3 months.

Volume & Open Interest Trends

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 $570.0 over the preceding 30 days.

Deere Call and Put Volume: 30-Day Overview

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.

Present Market Standing of Deere

• Trading volume stands at 735,543, with DE's price down by -3.19%, positioned at $473.2.
• RSI indicators show the stock to be is currently neutral between overbought and oversold.
• Earnings announcement expected in 65 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 $496.4.

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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Evercore ISI Group continues to hold a In-Line rating for Deere, targeting a price of $455. * In a cautious move, an analyst from Baird downgraded its rating to Neutral, setting a price target of $501. * Maintaining their stance, an analyst from JP Morgan continues to hold a Neutral rating for Deere, targeting a price of $500. * In a cautious move, an analyst from Truist Securities downgraded its rating to Buy, setting a price target of $546. * Consistent in their evaluation, an analyst from Citigroup keeps a Neutral rating on Deere with a target price of $480.

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.