What Are Whales Doing With Deere

What Are Whales Doing With Deere

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 17 uncommon options trades for Deere.

This isn't normal.

The overall sentiment of these big-money traders is split between 41% bullish and 58%, bearish.

Out of all of the special options we uncovered, 8 are puts, for a total amount of $297,206, and 9 are calls, for a total amount of $480,906.

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 $220.0 to $390.0 for Deere over the last 3 months.

Volume & Open Interest Development

In terms of liquidity and interest, the mean open interest for Deere options trades today is 317.19 with a total volume of 1,158.00.

In the following chart, we are able to follow the development of volume and open interest of call and put options for Deere's big money trades within a strike price range of $220.0 to $390.0 over 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 NEUTRAL 09/16/22 $365.00 $113.9K 125 125
DE CALL TRADE NEUTRAL 01/20/23 $390.00 $89.9K 674 32
DE PUT SWEEP BEARISH 01/20/23 $330.00 $67.0K 1.0K 52
DE CALL TRADE BEARISH 09/16/22 $380.00 $56.7K 638 109
DE CALL TRADE BULLISH 10/21/22 $350.00 $56.0K 73 16

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
DE CALL SWEEP NEUTRAL 09/16/22 $365.00 $113.9K 125 125
DE CALL TRADE NEUTRAL 01/20/23 $390.00 $89.9K 674 32
DE PUT SWEEP BEARISH 01/20/23 $330.00 $67.0K 1.0K 52
DE CALL TRADE BEARISH 09/16/22 $380.00 $56.7K 638 109
DE CALL TRADE BULLISH 10/21/22 $350.00 $56.0K 73 16

Where Is Deere Standing Right Now?

  • With a volume of 859,322, the price of DE is up 2.35% at $378.31.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 92 days.

What The Experts Say On Deere:

  • Wells Fargo has decided to maintain their Overweight rating on Deere, which currently sits at a price target of $423.
  • Evercore ISI Group upgraded its action to Outperform with a price target of $416
  • 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 $424.
  • Credit Suisse has decided to maintain their Outperform rating on Deere, which currently sits at a price target of $447.

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