Investors with a lot of money to spend have taken a bearish stance on Deere DE.
And retail traders should know.
We noticed this today when the positions 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 DE, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 11 options trades for Deere.
This isn't normal.
The overall sentiment of these big-money traders is split between 36% bullish and 63%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $294,000, and 10, calls, for a total amount of $806,887.
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 $250.0 and $450.0 for Deere, spanning the last three months.
Analyzing Volume & Open Interest
In terms of liquidity and interest, the mean open interest for Deere options trades today is 372.64 with a total volume of 426.00.
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 $250.0 to $450.0 over the last 30 days.
Deere 30-Day Option Volume & Interest Snapshot
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| DE | CALL | TRADE | NEUTRAL | 01/19/24 | $370.00 | $305.6K | 1.3K | 142 |
| DE | PUT | SWEEP | BULLISH | 09/20/24 | $430.00 | $294.0K | 110 | 60 |
| DE | CALL | TRADE | BULLISH | 01/19/24 | $380.00 | $144.7K | 1.0K | 104 |
| DE | CALL | SWEEP | BEARISH | 01/17/25 | $450.00 | $106.2K | 604 | 54 |
| DE | CALL | SWEEP | NEUTRAL | 09/20/24 | $340.00 | $69.4K | 4 | 0 |
About Deere
Deere is the world's leading manufacturer of agricultural equipment, producing some of the most recognizable machines in the heavy machinery industry. The company is divided into four reportable segments: production and precision agriculture, small agriculture and turf, construction and forestry, and John Deere Capital. Its products are available through an extensive dealer network, which includes over 2,000 dealer locations in North America and approximately 3,700 locations globally. John Deere Capital provides retail financing for machinery to its customers, in addition to wholesale financing for dealers, which increases the likelihood of Deere product sales.
Following our analysis of the options activities associated with Deere, we pivot to a closer look at the company's own performance.
Current Position of Deere
- Trading volume stands at 666,368, with DE's price up by 0.08%, positioned at $386.39.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 60 days.
What The Experts Say On Deere
2 market experts have recently issued ratings for this stock, with a consensus target price of $380.0.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Neutral rating on Deere with a target price of $385.
- Consistent in their evaluation, an analyst from Canaccord Genuity keeps a Hold rating on Deere with a target price of $375.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Deere options trades with real-time alerts from Benzinga Pro.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Date of Trade | ticker | Put/Call | Strike Price | DTE | Sentiment |
|---|
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
