Investors with a lot of money to spend have taken a bearish 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 10 uncommon options trades for Caterpillar.
This isn't normal.
The overall sentiment of these big-money traders is split between 40% bullish and 50%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $229,595, and 5 are calls, for a total amount of $316,690.
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 $270.0 and $340.0 for Caterpillar, spanning the last three months.
Analyzing Volume & Open Interest
Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for Caterpillar's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across Caterpillar's significant trades, within a strike price range of $270.0 to $340.0, over the past month.
Caterpillar Call and Put Volume: 30-Day Overview
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CAT | CALL | SWEEP | BEARISH | 06/20/25 | $10.95 | $10.5 | $10.5 | $330.00 | $132.3K | 2.5K | 131 |
| CAT | PUT | SWEEP | BEARISH | 06/20/25 | $15.35 | $14.8 | $15.29 | $330.00 | $76.4K | 1.0K | 64 |
| CAT | CALL | SWEEP | BULLISH | 09/19/25 | $17.8 | $17.5 | $17.8 | $340.00 | $72.9K | 1.2K | 47 |
| CAT | PUT | TRADE | NEUTRAL | 06/20/25 | $4.6 | $4.5 | $4.55 | $300.00 | $45.0K | 1.8K | 488 |
| CAT | PUT | TRADE | BEARISH | 01/15/27 | $43.4 | $42.5 | $43.4 | $320.00 | $43.4K | 92 | 10 |
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.
Current Position of Caterpillar
- With a volume of 1,131,124, the price of CAT is down -0.31% at $322.1.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 91 days.
Expert Opinions on Caterpillar
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $311.4.
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 JP Morgan has decided to maintain their Overweight rating on Caterpillar, which currently sits at a price target of $380. * An analyst from DA Davidson has decided to maintain their Neutral rating on Caterpillar, which currently sits at a price target of $331. * In a cautious move, an analyst from UBS downgraded its rating to Sell, setting a price target of $243. * Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Caterpillar with a target price of $320. * In a positive move, an analyst from Morgan Stanley has upgraded their rating to Equal-Weight and adjusted the price target to $283.
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 Caterpillar, Benzinga Pro gives you real-time options trades alerts.
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