Someone with a lot of money to spend has taken a bearish stance on Deere (NYSE: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 11 uncommon options trades for Deere.
This isn't normal.
The overall sentiment of these big-money traders is split between 45% bullish and 54%, bearish.
Out of all of the special options we uncovered, 9 are puts, for a total amount of $305,052, and 2 are calls, for a total amount of $85,255.
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 $400.0 to $430.0 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 204.6 with a total volume of 503.00.
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 $400.0 to $430.0 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 | TRADE | BULLISH | 05/20/22 | $410.00 | $59.3K | 259 | 27 |
| DE | PUT | TRADE | BEARISH | 09/16/22 | $430.00 | $41.6K | 45 | 10 |
| DE | PUT | TRADE | NEUTRAL | 06/17/22 | $420.00 | $40.3K | 84 | 13 |
| DE | PUT | SWEEP | BULLISH | 06/17/22 | $420.00 | $37.7K | 84 | 56 |
| DE | PUT | TRADE | BULLISH | 04/14/22 | $400.00 | $36.1K | 604 | 107 |
Where Is Deere Standing Right Now?
- With a volume of 176,764, the price of DE is up 1.12% at $417.54.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 51 days.
What The Experts Say On Deere:
- JP Morgan upgraded its action to Neutral with a price target of $440
- Wells Fargo downgraded its action to Overweight with a price target of $455
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.
