Deep-pocketed investors have adopted a bearish approach towards Deere (NYSE:DE), and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in DE usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 8 extraordinary options activities for Deere. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 37% leaning bullish and 50% bearish. Among these notable options, 5 are puts, totaling $240,170, and 3 are calls, amounting to $87,150.
Predicted Price Range
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $340.0 to $380.0 for Deere over the last 3 months.
Volume & Open Interest Trends
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 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 activity within a strike price range from $340.0 to $380.0 in the last 30 days.
Deere Option Volume And Open Interest Over Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DE | PUT | SWEEP | BULLISH | 01/17/25 | $29.0 | $27.7 | $27.7 | $380.00 | $69.2K | 1.8K | 47 |
| DE | PUT | SWEEP | NEUTRAL | 08/16/24 | $8.7 | $8.15 | $8.43 | $360.00 | $59.0K | 891 | 16 |
| DE | PUT | TRADE | BEARISH | 01/17/25 | $27.6 | $27.05 | $27.6 | $380.00 | $55.2K | 1.8K | 77 |
| DE | CALL | TRADE | BULLISH | 01/16/26 | $65.6 | $64.15 | $65.6 | $340.00 | $32.8K | 43 | 0 |
| DE | PUT | TRADE | BEARISH | 01/17/25 | $28.7 | $28.1 | $28.7 | $380.00 | $28.7K | 1.8K | 30 |
About Deere
Deere is the world's leading manufacturer of agricultural equipment, producing some of the most recognizable machines in the heavy machinery industry in their green and yellow livery. 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.
In light of the recent options history for Deere, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Where Is Deere Standing Right Now?
- With a trading volume of 403,037, the price of DE is down by -0.82%, reaching $361.98.
- Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
- Next earnings report is scheduled for 44 days from now.
What Analysts Are Saying About Deere
Over the past month, 3 industry analysts have shared their insights on this stock, proposing an average target price of $418.0.
- Reflecting concerns, an analyst from Raymond James lowers its rating to Outperform with a new price target of $420.
- An analyst from Truist Securities has decided to maintain their Buy rating on Deere, which currently sits at a price target of $439.
- In a cautious move, an analyst from Citigroup downgraded its rating to Neutral, setting a price target of $395.
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.