Deep-pocketed investors have adopted a bullish 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 13 extraordinary options activities for Deere. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 76% leaning bullish and 15% bearish. Among these notable options, 10 are puts, totaling $1,326,785, and 3 are calls, amounting to $96,719.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $360.0 to $440.0 for Deere during the past quarter.
Volume & Open Interest Development
Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for Deere's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of Deere's whale trades within a strike price range from $360.0 to $440.0 in the last 30 days.
Deere Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DE | PUT | TRADE | BULLISH | 05/17/24 | $30.9 | $26.65 | $27.325 | $420.00 | $683.1K | 403 | 500 |
| DE | PUT | TRADE | BULLISH | 05/17/24 | $29.8 | $29.4 | $29.4 | $420.00 | $191.1K | 403 | 250 |
| DE | PUT | SWEEP | BEARISH | 05/17/24 | $29.45 | $29.45 | $29.45 | $420.00 | $111.9K | 403 | 63 |
| DE | PUT | SWEEP | BULLISH | 05/17/24 | $29.7 | $29.0 | $29.0 | $420.00 | $75.4K | 403 | 37 |
| DE | PUT | TRADE | BULLISH | 01/17/25 | $33.45 | $33.0 | $33.0 | $400.00 | $66.0K | 836 | 0 |
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.
After a thorough review of the options trading surrounding Deere, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Deere's Current Market Status
- Trading volume stands at 877,221, with DE's price up by 0.34%, positioned at $388.8.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 15 days.
What Analysts Are Saying About Deere
In the last month, 1 experts released ratings on this stock with an average target price of $425.0.
- An analyst from JP Morgan has decided to maintain their Neutral rating on Deere, which currently sits at a price target of $425.
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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