A whale with a lot of money to spend has taken a noticeably bearish stance on Deere.
Looking at options history for Deere DE we detected 17 strange trades.
If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 58% with bearish.
From the overall spotted trades, 9 are puts, for a total amount of $322,363 and 8, calls, for a total amount of $293,272.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $350.0 to $460.0 for Deere over the last 3 months.
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 $350.0 to $460.0 in the last 30 days.
Deere Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DE | CALL | SWEEP | BULLISH | 03/25/22 | $395.00 | $63.7K | 129 | 58 |
| DE | PUT | TRADE | BULLISH | 01/20/23 | $410.00 | $49.7K | 40 | 9 |
| DE | PUT | TRADE | BEARISH | 01/20/23 | $390.00 | $40.6K | 92 | 0 |
| DE | PUT | TRADE | BULLISH | 06/17/22 | $410.00 | $38.6K | 24 | 42 |
| DE | CALL | TRADE | NEUTRAL | 01/19/24 | $460.00 | $37.2K | 492 | 8 |
Where Is Deere Standing Right Now?
- With a volume of 310,172, the price of DE is up 2.77% at $399.22.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 65 days.
What The Experts Say On Deere:
- Wells Fargo downgraded its action to Overweight with a price target of $455
- Oppenheimer has decided to maintain their Outperform rating on Deere, which currently sits at a price target of $432.
- Deutsche Bank has decided to maintain their Hold rating on Deere, which currently sits at a price target of $417.
- JP Morgan has decided to maintain their Underweight rating on Deere, which currently sits at a price target of $355.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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