<p>Investors with a lot of money to spend have taken a bullish stance on <strong>Caterpillar</strong> (NYSE:CAT).</p>
<p>And retail traders should know.</p>
<p>We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.</p>
<p>Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with CAT, it often means somebody knows something is about to happen.</p>
<p>So how do we know what these investors just did? </p>
<p>Today, Benzinga's options scanner spotted 12 uncommon options trades for Caterpillar.</p>
<p>This isn't normal.</p>
<p>The overall sentiment of these big-money traders is split between 33% bullish and 33%, bearish.</p>
<p>Out of all of the special options we uncovered, 3 are puts, for a total amount of $175,740, and 9 are calls, for a total amount of $377,028.</p>
<h3>What's The Price Target?</h3>
<p>Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $400.0 to $650.0 for Caterpillar over the last 3 months. </p>
<h3>Insights into Volume &amp; Open Interest</h3>
<p>Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in Caterpillar's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to Caterpillar's substantial trades, within a strike price spectrum from $400.0 to $650.0 over the preceding 30 days.</p>
<h3>Caterpillar 30-Day Option Volume &amp; Interest Snapshot</h3>
<p><img src="https://imageproxy.pbkrs.com/https://www.benzinga.com/files/images/story/2025/1766419274_0.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg" alt="Options Call Chart" original-src="https://imageproxy.pbkrs.com/https://www.benzinga.com/files/images/story/2025/1766419274_0.png"/></p>

<h3>Noteworthy Options Activity:</h3>
<p></p><table>
<thead>
<tr>
<th><strong>Symbol</strong></th>
<th><strong>PUT/CALL</strong></th>
<th><strong>Trade Type</strong></th>
<th><strong>Sentiment</strong></th>
<th><strong>Exp. Date</strong></th>
<th><strong>Ask</strong></th>
<th><strong>Bid</strong></th>
<th><strong>Price</strong></th>
<th><strong>Strike Price</strong></th>
<th><strong>Total Trade Price</strong></th>
<th><strong>Open Interest</strong></th>
<th align="right"><strong>Volume</strong></th>
</tr>
</thead>
<tbody>
<tr>
<td>CAT</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>01/16/26</td>
<td>$179.85</td>
<td>$177.7</td>
<td>$178.77</td>
<td>$400.00</td>
<td>$89.3K</td>
<td>1.1K</td>
<td align="right">5</td>
</tr>
<tr>
<td>CAT</td>
<td>PUT</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$29.25</td>
<td>$28.5</td>
<td>$29.25</td>
<td>$600.00</td>
<td>$81.9K</td>
<td>739</td>
<td align="right">55</td>
</tr>
<tr>
<td>CAT</td>
<td>PUT</td>
<td>SWEEP</td>
<td>BEARISH</td>
<td>01/16/26</td>
<td>$29.7</td>
<td>$29.6</td>
<td>$29.6</td>
<td>$600.00</td>
<td>$59.3K</td>
<td>739</td>
<td align="right">23</td>
</tr>
<tr>
<td>CAT</td>
<td>CALL</td>
<td>TRADE</td>
<td>BEARISH</td>
<td>02/20/26</td>
<td>$95.5</td>
<td>$94.0</td>
<td>$94.0</td>
<td>$500.00</td>
<td>$56.4K</td>
<td>1.5K</td>
<td align="right">0</td>
</tr>
<tr>
<td>CAT</td>
<td>CALL</td>
<td>TRADE</td>
<td>NEUTRAL</td>
<td>08/21/26</td>
<td>$77.25</td>
<td>$73.8</td>
<td>$75.4</td>
<td>$570.00</td>
<td>$45.2K</td>
<td>1</td>
<td align="right">9</td>
</tr>
</tbody>
</table><p></p>
<h3>About Caterpillar</h3>
<p>Caterpillar is the world's leading manufacturer of construction and mining equipment, off-highway diesel and natural gas engines, industrial gas turbines, and diesel-electric locomotives. Its reporting segments are construction, resource, energy, and transportation. Market share approaches 20% across many products. Caterpillar operates a captive finance subsidiary to facilitate sales. The firm has a global reach that is approximately evenly balanced between the US and the rest of the world. Construction skews more domestic, while the other divisions are more geographically diversified. An independent network of over 150 dealers operates approximately 2,800 facilities, giving Caterpillar reach into about 190 countries for sales and support services.</p>
<p>Having examined the options trading patterns of Caterpillar, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance</p>
<h3>Current Position of Caterpillar</h3>
<ul>
<li>Trading volume stands at 381,133, with CAT's price up by 0.44%, positioned at $578.76.</li>
<li>RSI indicators show the stock to be may be approaching overbought.</li>
<li>Earnings announcement expected in 38 days.</li>
</ul>
<h3>What The Experts Say On Caterpillar</h3>
<p>3 market experts have recently issued ratings for this stock, with a consensus target price of $571.67.</p>
<p><strong>Unusual Options Activity Detected: Smart Money on the Move</strong></p>
<p>Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.
* Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on Caterpillar with a target price of $690. 
* Consistent in their evaluation, an analyst from Morgan Stanley keeps a Underweight rating on Caterpillar with a target price of $395. 
* Maintaining their stance, an analyst from Bernstein continues to hold a Market Perform rating for Caterpillar, targeting a price of $630. </p>
<p>Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest Caterpillar options trades with real-time alerts from Benzinga Pro.</p>

<p>Investors are showing interest in Caterpillar (NYSE:CAT) with unusual options activity detected. Benzinga's scanner identified 12 uncommon trades, split between bullish and bearish sentiments. Analysts have varied ratings: Citigroup (Buy, $690 target), Morgan Stanley (Underweight, $395 target), Bernstein (Market Perform, $630 target). Caterpillar's current trading volume is 381,133, with a price of $578.76. RSI indicators suggest potential overbought conditions. Earnings announcement is expected in 38 days. Stay updated with Benzinga Pro for real-time alerts on Caterpillar options trades.</p>

Spotlight on Caterpillar: Analyzing the Surge in Options Activity