A whale with a lot of money to spend has taken a noticeably bearish stance on Deere.
Looking at options history for Deere (NYSE:DE) we detected 18 strange trades.
If we consider the specifics of each trade, it is accurate to state that 33% of the investors opened trades with bullish expectations and 66% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $1,729,520 and 10, calls, for a total amount of $839,878.
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 $315.0 to $360.0 for Deere over the last 3 months.
Volume & Open Interest Development
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 $315.0 to $360.0 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 | 01/19/24 | $350.00 | $685.6K | 334 | 249 |
| DE | PUT | SWEEP | BULLISH | 01/19/24 | $350.00 | $468.6K | 334 | 116 |
| DE | CALL | TRADE | BEARISH | 09/16/22 | $360.00 | $155.7K | 489 | 161 |
| DE | PUT | TRADE | BULLISH | 09/16/22 | $350.00 | $154.8K | 681 | 218 |
| DE | CALL | TRADE | NEUTRAL | 08/19/22 | $340.00 | $142.3K | 1.6K | 332 |
Where Is Deere Standing Right Now?
- With a volume of 430,263, the price of DE is up 0.2% at $344.0.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 11 days.
What The Experts Say On Deere:
- Morgan Stanley has decided to maintain their Overweight rating on Deere, which currently sits at a price target of $416.
- JP Morgan has decided to maintain their Neutral rating on Deere, which currently sits at a price target of $325.
- Jefferies has decided to maintain their Buy rating on Deere, which currently sits at a price target of $400.
- Oppenheimer has decided to maintain their Outperform rating on Deere, which currently sits at a price target of $365.
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.
