Investors with a lot of money to spend have taken a bullish stance on Caterpillar CAT.
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 CAT, 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 15 uncommon options trades for Caterpillar.
This isn't normal.
The overall sentiment of these big-money traders is split between 60% bullish and 20%, bearish.
Out of all of the special options we uncovered, 6 are puts, for a total amount of $247,900, and 9 are calls, for a total amount of $741,185.
Projected Price Targets
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $320.0 to $470.0 for Caterpillar during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Caterpillar options trades today is 523.54 with a total volume of 420.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for Caterpillar's big money trades within a strike price range of $320.0 to $470.0 over the last 30 days.
Caterpillar 30-Day Option Volume & Interest Snapshot
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CAT | CALL | SWEEP | NEUTRAL | 08/29/25 | $43.45 | $42.35 | $42.93 | $400.00 | $214.8K | 84 | 50 |
| CAT | CALL | SWEEP | BULLISH | 08/29/25 | $42.15 | $40.35 | $41.85 | $400.00 | $208.9K | 84 | 50 |
| CAT | CALL | SWEEP | BEARISH | 11/21/25 | $54.6 | $54.05 | $54.05 | $400.00 | $81.0K | 448 | 15 |
| CAT | PUT | TRADE | BULLISH | 08/15/25 | $6.25 | $5.95 | $5.95 | $425.00 | $59.5K | 453 | 102 |
| CAT | CALL | TRADE | NEUTRAL | 01/16/26 | $30.1 | $28.9 | $29.6 | $450.00 | $59.2K | 738 | 5 |
About Caterpillar
Caterpillar is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines and diesel-electric locomotives. Its reporting segments are: construction industries (40% sales/47% operating profit, or OP), resource industries (20% sales/19% OP), and energy & transportation (40% sales/34% OP). Market share approaches 20% across many products. Caterpillar operates a captive finance subsidiary to facilitate sales. The firm has global reach (46% US sales/54% ex-US). Construction skews more domestic, while the other divisions are more geographically diversified. An independent network of 156 dealers operates approximately 2,800 facilities, giving Caterpillar reach into about 190 countries for sales and support services.
Following our analysis of the options activities associated with Caterpillar, we pivot to a closer look at the company's own performance.
Present Market Standing of Caterpillar
- With a trading volume of 574,482, the price of CAT is up by 1.24%, reaching $439.51.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 5 days from now.
Professional Analyst Ratings for Caterpillar
In the last month, 5 experts released ratings on this stock with an average target price of $445.8.
Turn $1000 into $1270 in just 20 days?
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 Barclays continues to hold a Equal-Weight rating for Caterpillar, targeting a price of $383. * An analyst from JP Morgan has decided to maintain their Overweight rating on Caterpillar, which currently sits at a price target of $475. * An analyst from Oppenheimer persists with their Outperform rating on Caterpillar, maintaining a target price of $483. * An analyst from DA Davidson persists with their Neutral rating on Caterpillar, maintaining a target price of $388. * In a positive move, an analyst from Melius Research has upgraded their rating to Buy and adjusted the price target to $500.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for Caterpillar with Benzinga Pro for real-time alerts.
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