Caterpillar Stock Flashing 'Buy' Signal Amid Record Run

CAT options traders are heavily bearish despite the steady climb up the charts

Assistant Editor

Jun 22, 2026 at 1:22 PM

Caterpillar Inc (NYSE:CAT) is enjoying a record run, last seen up 3.7% at $1,022.06, heading for a seventh consecutive win. Year-to-date, shares boast a 78.1% lead. Despite the positive price action, a signal is flashing in the options pits that says the stock has even more room to run.

CAT sports a 10-day put/call volume ratio of 2.20 at the International Securities Exchange (ISE), Cboe Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) that stands higher than 98% of readings from the past year.

This marks the ninth time in the last three years that the equity's 10-day buy-to-open put/call ratio crossed over 1.0 and hit the 90th percentile. Per Schaeffer's Senior Quantitative Analyst Rocky White, CAT was higher one month later 70% of the time after these signals with an average 11.3% return. This is echoed further by the stock's Schaeffer's put/call open interest ratio (SOIR) of 1.57 sits in just the 92nd percentile of its annual range. From its current perch, this would put the stock well above today's record at $1,137.55.

The stock tends to outperform these volatility expectations, too, according to its Schaeffer's Volatility Scorecard (SVS), which comes in at 84 out of 100.

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