Deere, Caterpillar Stocks Slip on Retaliatory Tariffs

Market Impact - Equipment stocks Deere & Co (NYSE:DE) and Caterpillar Inc (NYSE:CAT) are experiencing significant declines due to China's announcement of retaliatory tariffs of 34% on U.S. goods [1] - Deere's stock is down 4.6%, trading at $426.72, marking its lowest levels since mid-January and heading for a third consecutive loss, the worst week since August 2024 [1] - Caterpillar's stock is down 5.5$289.01, also at its lowest level since January 2024, and on track for its worst weekly performance since March 2020 [3] Options Activity - In the options market, Deere has seen an unusual volume of 4,325 puts exchanged, which is seven times the typical volume, compared to only 446 calls [2] - The June 370 put is the most popular option, with new positions being opened [2] - For Caterpillar, the call/put volume ratio has been higher than usual at 1.50, ranking above 86% of readings from the past year, but today it has seen 2,783 puts exchanged against 1,952 calls [4]