Financial giants have made a conspicuous bearish move on ServiceNow. Our analysis of options history for ServiceNow NOW revealed 32 unusual trades.
Delving into the details, we found 25% of traders were bullish, while 75% showed bearish tendencies. Out of all the trades we spotted, 15 were puts, with a value of $1,329,613, and 17 were calls, valued at $1,094,007.
What's The Price Target?
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $500.0 to $920.0 for ServiceNow over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for ServiceNow options trades today is 151.67 with a total volume of 1,539.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for ServiceNow's big money trades within a strike price range of $500.0 to $920.0 over the last 30 days.
ServiceNow Call and Put Volume: 30-Day Overview
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NOW | PUT | SWEEP | BULLISH | 06/20/25 | $600.00 | $405.8K | 5 | 21 |
| NOW | CALL | TRADE | BEARISH | 05/17/24 | $920.00 | $217.1K | 15 | 183 |
| NOW | PUT | TRADE | BEARISH | 02/02/24 | $780.00 | $166.1K | 121 | 233 |
| NOW | PUT | TRADE | BULLISH | 01/16/26 | $680.00 | $141.2K | 60 | 20 |
| NOW | CALL | TRADE | BULLISH | 03/15/24 | $750.00 | $138.7K | 502 | 25 |
About ServiceNow
ServiceNow Inc provides software solutions to structure and automate various business processes via a SaaS delivery model. The company primarily focuses on the IT function for enterprise customers. ServiceNow began with IT service management, expanded within the IT function, and more recently directed its workflow automation logic to functional areas beyond IT, notably customer service, HR service delivery, and security operations. ServiceNow also offers an application development platform as a service.
Having examined the options trading patterns of ServiceNow, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of ServiceNow
- With a volume of 417,771, the price of NOW is down -0.22% at $785.5.
- RSI indicators hint that the underlying stock may be overbought.
- Next earnings are expected to be released in 85 days.
What Analysts Are Saying About ServiceNow
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $832.0.
- An analyst from Barclays has decided to maintain their Overweight rating on ServiceNow, which currently sits at a price target of $870.
- Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on ServiceNow with a target price of $800.
- Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for ServiceNow, targeting a price of $890.
- Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on ServiceNow with a target price of $700.
- Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $900.
Options are a riskier asset compared to just trading the stock, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scaling in and out of trades, following more than one indicator, and following the markets closely.
If you want to stay updated on the latest options trades for ServiceNow, Benzinga Pro gives you real-time options trades alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
