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 9 extraordinary options activities for Deere. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 22% leaning bullish and 77% bearish. Among these notable options, 5 are puts, totaling $232,134, and 4 are calls, amounting to $111,914.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $370.0 and $430.0 for Deere, spanning the last three months.
Analyzing Volume & Open Interest
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 $370.0 to $430.0 over the preceding 30 days.
Deere Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DE | PUT | SWEEP | BEARISH | 06/21/24 | $20.5 | $20.25 | $20.5 | $420.00 | $51.2K | 268 | 66 |
| DE | PUT | TRADE | BEARISH | 06/21/24 | $20.55 | $20.25 | $20.46 | $420.00 | $51.1K | 268 | 27 |
| DE | PUT | TRADE | BEARISH | 06/21/24 | $20.55 | $20.25 | $20.43 | $420.00 | $51.0K | 268 | 52 |
| DE | PUT | SWEEP | BEARISH | 06/21/24 | $20.8 | $20.4 | $20.64 | $420.00 | $47.4K | 268 | 101 |
| DE | PUT | SWEEP | BEARISH | 01/17/25 | $19.5 | $19.2 | $19.5 | $380.00 | $31.2K | 1.4K | 20 |
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.
Following our analysis of the options activities associated with Deere, we pivot to a closer look at the company's own performance.
Where Is Deere Standing Right Now?
- With a volume of 572,962, the price of DE is down 0.0% at $412.54.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 39 days.
What Analysts Are Saying About Deere
1 market experts have recently issued ratings for this stock, with a consensus target price of $494.0.
- An analyst from Truist Securities has revised its rating downward to Buy, adjusting the price target to $494.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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