Deere has been growing international sales, and its stock has been running rapidly.
OptionMonster's tracking systems detected heavy trading yesterday in the February 100 calls for $0.56 to $0.60 and the February 105 calls for $0.19 to $0.23. In some cases, traders bought one and sold the other to leverage a sprint higher in the next two weeks.
Calls lock in the price where investors can buy shares, so they can generate significant leverage in the event of a rally. It would take quite a move to reach those $100 and $105 strike prices, but yesterday's traders are willing to take that risk.
Deere shares climbed 1.13 percent to close the session at $95.05, another 52-week high. The company, which is the largest supplier of agricultural equipment, has been building factories and research centers in emerging markets and gaining revenues from international sales. JPMorgan upgraded the stock early this month and raised its target to $90.
Calls outnumbered puts in the name by almost 23,000 to 9,000 yesterday, a clear reflection of the bullish sentiment. Total option volume was 5 times greater than average.
—By CNBC Contributor Pete Najarian
Options Trading School:
Pete Najarian is a professional investor, CNBC contributor, regular co-host of CNBC's "Fast Money" and co-founder of OptionMonster.com. Najarian owns DE calls.