Deere Whale Trades Spotted

 

Someone with a lot of money to spend has taken a bearish stance on Deere DE.

And retail traders should know.

We noticed this today when the big position showed up on publicly available options history that we track here at Benzinga.

Whether this is an institution or just a wealthy individual, we don't know. But when something this big happens with DE, it often means somebody knows something is about to happen.

So how do we know what this whale just did?

Today, Benzinga's options scanner spotted 20 uncommon options trades for Deere.

This isn't normal.

The overall sentiment of these big-money traders is split between 45% bullish and 55%, bearish.

Out of all of the special options we uncovered, 12 are puts, for a total amount of $1,326,048, and 8 are calls, for a total amount of $632,643.

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 $310.0 to $390.0 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 $310.0 to $390.0 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 PUT SWEEP BULLISH 01/20/23 $320.00 $349.1K 858 537
DE PUT TRADE BULLISH 01/20/23 $330.00 $273.7K 557 365
DE CALL TRADE BEARISH 01/20/23 $340.00 $255.5K 605 72
DE PUT TRADE BULLISH 01/20/23 $330.00 $220.3K 557 92
DE PUT SWEEP BULLISH 01/20/23 $330.00 $208.0K 557 668

Where Is Deere Standing Right Now?

  • With a volume of 539,174, the price of DE is up 1.2% at $370.44.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 3 days.

What The Experts Say On Deere:

  • Evercore ISI Group upgraded its action to Outperform with a price target of $416
  • Oppenheimer has decided to maintain their Outperform rating on Deere, which currently sits at a price target of $365.
  • Deutsche Bank has decided to maintain their Hold rating on Deere, which currently sits at a price target of $388.
  • Morgan Stanley has decided to maintain their Overweight rating on Deere, which currently sits at a price target of $416.

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 Deere, Benzinga Pro gives you real-time options trades alerts.

Posted In: BZI-UOAOptionsMarkets