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 26 uncommon options trades for Caterpillar.
This isn't normal.
The overall sentiment of these big-money traders is split between 30% bullish and 34%, bearish.
Out of all of the special options we uncovered, 5 are puts, for a total amount of $180,374, and 21 are calls, for a total amount of $1,461,007.
Predicted Price Range
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 $400.0 for Caterpillar, spanning the last three 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 Caterpillar's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Caterpillar's substantial trades, within a strike price spectrum from $270.0 to $400.0 over the preceding 30 days.
Caterpillar Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CAT | CALL | TRADE | BEARISH | 01/16/26 | $42.15 | $40.95 | $41.2 | $340.00 | $247.2K | 1.5K | 68 |
| CAT | CALL | TRADE | NEUTRAL | 11/21/25 | $90.8 | $87.8 | $89.33 | $270.00 | $160.7K | 4 | 20 |
| CAT | CALL | TRADE | NEUTRAL | 11/21/25 | $90.8 | $87.8 | $89.33 | $270.00 | $160.7K | 4 | 20 |
| CAT | CALL | TRADE | BULLISH | 06/20/25 | $18.75 | $18.2 | $18.75 | $340.00 | $93.7K | 3.2K | 52 |
| CAT | CALL | SWEEP | BEARISH | 11/21/25 | $91.0 | $90.3 | $90.3 | $270.00 | $90.3K | 4 | 30 |
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.
Where Is Caterpillar Standing Right Now?
- With a trading volume of 1,265,264, the price of CAT is up by 3.49%, reaching $354.49.
- Current RSI values indicate that the stock is may be overbought.
- Next earnings report is scheduled for 84 days from now.
What The Experts Say On Caterpillar
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $364.0.
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. * In a positive move, an analyst from Baird has upgraded their rating to Outperform and adjusted the price target to $395. * In a cautious move, an analyst from Truist Securities downgraded its rating to Buy, setting a price target of $396. * In a positive move, an analyst from Oppenheimer has upgraded their rating to Outperform and adjusted the price target to $395. * An analyst from DA Davidson persists with their Neutral rating on Caterpillar, maintaining a target price of $325. * In a positive move, an analyst from Baird has upgraded their rating to Neutral and adjusted the price target to $309.
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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