Financial giants have made a conspicuous bullish move on ServiceNow. Our analysis of options history for ServiceNow NOW revealed 13 unusual trades.
Delving into the details, we found 61% of traders were bullish, while 38% showed bearish tendencies. Out of all the trades we spotted, 3 were puts, with a value of $259,523, and 10 were calls, valued at $334,015.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $780.0 and $840.0 for ServiceNow, spanning the last three months.
Volume & Open Interest Development
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for ServiceNow's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of ServiceNow's whale activity within a strike price range from $780.0 to $840.0 in 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 | TRADE | BULLISH | 08/16/24 | $780.00 | $111.2K | 10 | 165 |
| NOW | PUT | SWEEP | BULLISH | 08/16/24 | $780.00 | $80.3K | 10 | 147 |
| NOW | PUT | SWEEP | BEARISH | 08/16/24 | $780.00 | $67.9K | 10 | 119 |
| NOW | CALL | SWEEP | BEARISH | 03/01/24 | $800.00 | $55.2K | 341 | 1.3K |
| NOW | CALL | TRADE | NEUTRAL | 01/17/25 | $840.00 | $43.2K | 156 | 5 |
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.
ServiceNow's Current Market Status
- With a volume of 90,330, the price of NOW is up 0.4% at $774.05.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 58 days.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for ServiceNow with Benzinga Pro for real-time alerts.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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