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How to Play Deere Ahead of Earnings

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Deere has beaten earnings estimates four of the last five quarters, only missing consensus estimates one time.

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MINYANVILLE ORIGINAL Deere & Company (NYSE:DE) manufactures and distributes agricultural equipment along with providing construction and forestry equipment. The stock is currently trading around $85.85 in a 52-week range of $69.51-$89.70. DE has seen a gain of 10.98% YTD and 15.56% in the past 12 months. Deere & Company is scheduled to announce quarterly earnings tomorrow before the open.

Analysts are expecting the company to report earnings of $1.88 per share on revenues of $9 billion. DE has beaten earnings estimates four of the last five quarters, only missing consensus estimates one time. In the past four quarters the stock has sold off on earnings three times and rallied once. The stock moves 4.7% on average after earnings. Currently the options market is implying a 3.7% move in the stock by Friday expiration. The stock has moved relatively consistently on earnings, giving a good measured move target to set a put fly around.

My Trade: Buying the DE Nov 23 (Wkly) 85-82.5-80 Put Fly for $0.40
Risk: $40 per 1 lot
Reward: $210 per 1 lot
Breakeven: $84.60 and $80.40


No positions in stocks mentioned.
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