Paper bought 6,390 DE June 60 puts for .42 & over 8,000 of these have traded on the day.
Deere and Company, trading 76.25 with an IV30 of 23.29 with an HV10 of 25.56, saw bearish action today.? The stock, with an ADV of 14,361 contracts and OI of 279,900, saw a customer buy the Jun 60 puts outright.? A customer in one block bought 6,390 of the June 60 puts for .42.? On the day over 8,000 of these have traded already.
This is a customer that is either setting up a far out of the money hedge, or believes that the maker of farm equipment and riding mowers could see a really ugly quarter coming up that would likely have to involve some sort of AWFUL warnings for the equipment maker.
This trade should be considered aggressively bearish the underlying and bullish volatility.