Investors with a lot of money to spend have taken a bearish stance on Caterpillar (NYSE: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 23 uncommon options trades for Caterpillar.
This isn't normal.
The overall sentiment of these big-money traders is split between 13% bullish and 69%, bearish.
Out of all of the special options we uncovered, 2 are puts, for a total amount of $235,438, and 21 are calls, for a total amount of $978,879.
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 $290.0 to $660.0 for Caterpillar during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for Caterpillar'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 Caterpillar's whale activity within a strike price range from $290.0 to $660.0 in the last 30 days.
Caterpillar 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| CAT | CALL | TRADE | BEARISH | 06/18/26 | $154.5 | $152.6 | $152.6 | $440.00 | $228.9K | 708 | 15 |
| CAT | PUT | SWEEP | BULLISH | 12/05/25 | $8.3 | $7.8 | $7.95 | $575.00 | $203.5K | 32 | 330 |
| CAT | CALL | TRADE | BEARISH | 12/19/25 | $7.4 | $7.2 | $7.2 | $600.00 | $71.2K | 3.5K | 432 |
| CAT | CALL | SWEEP | BEARISH | 05/15/26 | $24.7 | $24.4 | $24.4 | $660.00 | $58.4K | 38 | 18 |
| CAT | CALL | SWEEP | BEARISH | 12/05/25 | $6.8 | $5.95 | $5.95 | $582.50 | $56.3K | 118 | 100 |
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, resource, energy, and transportation. Market share approaches 20% across many products. Caterpillar operates a captive finance subsidiary to facilitate sales. The firm has a global reach that is approximately evenly balanced between the US and the rest of the world. Construction skews more domestic, while the other divisions are more geographically diversified. An independent network of over 150 dealers operates approximately 2,800 facilities, giving Caterpillar reach into about 190 countries for sales and support services.
In light of the recent options history for Caterpillar, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Caterpillar Standing Right Now?
- With a volume of 1,018,843, the price of CAT is up 0.4% at $576.0.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 62 days.
What The Experts Say On Caterpillar
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $642.0.
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 UBS continues to hold a Neutral rating for Caterpillar, targeting a price of $581. * Reflecting concerns, an analyst from Truist Securities lowers its rating to Buy with a new price target of $729. * Maintaining their stance, an analyst from Barclays continues to hold a Equal-Weight rating for Caterpillar, targeting a price of $555. * An analyst from Wells Fargo has revised its rating downward to Overweight, adjusting the price target to $675. * An analyst from Citigroup persists with their Buy rating on Caterpillar, maintaining a target price of $670.
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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