Option buyers look for Deere & Co. to rise
Traders are looking Friday for a bounce from Deere and Co. (DE). So far, 2,710 contracts of the March 155 call have changed hands, against open interest of 498 contracts. The bulk of today’s contracts moved in a single trade of 2,569 contracts at 11:59 this morning. Pricing on that trade, and most of the rest of today’s trades points toward these new contracts being opened from the buy side.
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About Deere & Company
Deere is the world's leading manufacturer of agricultural equipment with approximately $35 billion in annual revenue. The company is divided into two reportable segments 1) agriculture and turf and 2) construction and forestry. Approximately 55% of Deere equipment is sold in North America and Canada. The principle products harvested by Deere equipment include grain, oilseeds, cotton, sugar, and biomass. In 2018, agriculture and turf made up approximately 70% of total revenue while construction and forestry generated 30%.