Deere Options Swing to 93% Calls as Contracts Follow, AGCO Mixed: GTA Terminal Data for Farm Equipment Buyers (November 11, 2026)

One session ago, the options market on Deere sent a split message: most of the dollars were in calls, but more contracts were puts. By late morning on Wednesday, November 11, 2026, that split had closed. According to GTA Terminal data from Global Traders Academy, the dollars and the contracts in Deere options both leaned toward calls, and the stock was sitting close to its 52-week high. For farmers, ag contractors and dealers weighing a tractor, combine or sprayer purchase, here is what the data shows and what it does not.

What the Deere options money did on November 11

GTA's November 11 report on where the Deere options money went, published at 11:53 AM ET, counted $5.7M in premium on the stock that morning:

• Calls: $5.3M, or 93% of the premium.

• Puts: $403K.

• Put/call volume ratio: 0.36, meaning roughly one put contract for every three calls.

• Share price: up 0.5% at $691.33 at the time of the report.

Compare that with Tuesday, November 10, when Deere closed down 1.5% at $680.95 with 59% of the premium in calls but a put/call volume ratio of 1.72. On Tuesday, more contracts were puts; on Wednesday morning, the contract count swung firmly toward calls as well. When dollars and contracts point the same way, the read is cleaner than when they disagree.

The chart: strong, and stretched

GTA's report describes Deere in an uptrend, above both its 50-day and 200-day averages and about 4% below its 52-week high. Its RSI was 71, which the report labels overbought. The GTA Proprietary Pattern Model had no live setup on the daily chart. Overbought does not mean a drop is coming, but it does mean a lot of good news is already in the price.

Off-exchange trading was steady rather than heavy. Deere's dark-pool share of volume ran between 36.6% and 44.3% from November 4 to November 10, with 441,847 shares (42.8%) on November 10, close to the five-session average of 42%. Large investors were active but not unusually so.

AGCO: a tiny bullish tilt on a mixed chart

AGCO, the maker of Fendt and Massey Ferguson equipment, showed a much smaller footprint. At $113.92 on November 11, the stock was above its 20-day average of $108.21 but just below its 50-day average of $113.95, and GTA called the chart mixed. Options premium totaled only $200 that morning, all in calls, which is too little to mean much. Dark pools handled 355,461 AGCO shares on November 10, 1.1x normal. AGCO also remains in a longer downtrend, 21% below its 52-week high. You can follow both names on the Deere quote and data page and the AGCO stock page on GTA.

What this means for farm equipment buyers

• Pricing power stays with the big brand for now. A stock near its high with call money flowing suggests investors expect Deere's business to hold up. Dealers with strong demand rarely discount deeply, so plan negotiations around service packages, attachments and trade-in values rather than big list-price cuts.

• Two makers, two stories. Deere near highs and AGCO in a downtrend show the market is not treating all farm equipment makers alike. If you are flexible on brand, compare offers; a maker whose stock is lagging may be more motivated to move inventory.

• Do not time a purchase to a stock. Buy when your acreage, crop plan and current machine's repair bills say it is time. Market data is context for negotiating, not a trigger.

• Lock financing terms early. A planting-season purchase financed in the slower winter months gives you time to compare rates and terms instead of signing at the counter.

If the swing between dollars and contracts is new to you, GTA's explainer on what the put/call ratio measures covers it in a few minutes. The same desk tracks these readings for thousands of stocks at GTA Terminal by Global Traders Academy.

For the session before this one, see our look at Deere's calls by dollars and puts by contracts on November 10, and for the input side of the farm economy, how corn and soybean prices shape farm equipment demand.

A word of caution

Options flow and dark-pool data are a signal, not a guarantee. Figures here are from one morning's trading and can change by the close. Overbought stocks can keep rising or reverse quickly. This article is general business information, not investment advice.

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