This Is What Whales Are Betting On Deere
This Is What Whales Are Betting On Deere
Deep-pocketed investors have adopted a bullish 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 9 extraordinary options activities for Deere. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 44% leaning bullish and 22% bearish. Among these notable options, 5 are puts, totaling $178,920, and 4 are calls, amounting to $272,300.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $360.0 to $430.0 for Deere over the recent three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of Deere stands at 786.88, with a total volume reaching 1,686.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in Deere, situated within the strike price corridor from $360.0 to $430.0, throughout the last 30 days.
Deere Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| DE | CALL | SWEEP | BULLISH | 07/26/24 | $8.35 | $6.9 | $8.35 | $380.00 | $167.0K | 541 | 18 |
| DE | PUT | TRADE | NEUTRAL | 01/17/25 | $24.0 | $20.95 | $22.36 | $380.00 | $44.7K | 1.8K | 0 |
| DE | CALL | TRADE | BEARISH | 09/20/24 | $4.15 | $4.0 | $4.0 | $430.00 | $40.0K | 662 | 406 |
| DE | PUT | TRADE | BULLISH | 01/17/25 | $19.8 | $18.5 | $18.5 | $370.00 | $37.0K | 609 | 0 |
| DE | PUT | TRADE | BULLISH | 01/17/25 | $18.9 | $17.5 | $17.5 | $370.00 | $35.0K | 609 | 20 |
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.
Deere's Current Market Status
- Trading volume stands at 475,206, with DE's price up by 1.82%, positioned at $388.64.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 20 days.
Expert Opinions on Deere
4 market experts have recently issued ratings for this stock, with a consensus target price of $420.5.
- An analyst from Truist Securities persists with their Buy rating on Deere, maintaining a target price of $439.
- Reflecting concerns, an analyst from Raymond James lowers its rating to Outperform with a new price target of $420.
- An analyst from Oppenheimer persists with their Outperform rating on Deere, maintaining a target price of $448.
- An analyst from JP Morgan persists with their Neutral rating on Deere, maintaining a target price of $375.
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.