Whales with a lot of money to spend have taken a noticeably bearish stance on ServiceNow.
Looking at options history for ServiceNow NOW we detected 9 trades.
If we consider the specifics of each trade, it is accurate to state that 22% of the investors opened trades with bullish expectations and 66% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $341,500 and 7, calls, for a total amount of $383,870.
What's The Price Target?
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $700.0 and $1120.0 for ServiceNow, spanning the last three months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $700.0 to $1120.0 in the last 30 days.
ServiceNow Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NOW | PUT | TRADE | NEUTRAL | 02/21/25 | $63.0 | $56.2 | $60.0 | $1100.00 | $300.0K | 84 | 50 |
| NOW | CALL | TRADE | BULLISH | 02/21/25 | $222.8 | $215.2 | $221.1 | $880.00 | $132.6K | 5.0K | 6 |
| NOW | CALL | TRADE | BEARISH | 12/18/26 | $343.4 | $335.0 | $335.0 | $920.00 | $67.0K | 16 | 2 |
| NOW | CALL | TRADE | BEARISH | 01/17/25 | $103.0 | $97.5 | $97.55 | $1000.00 | $48.7K | 361 | 5 |
| NOW | PUT | TRADE | BULLISH | 02/21/25 | $42.6 | $41.5 | $41.5 | $1060.00 | $41.5K | 32 | 10 |
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.
Following our analysis of the options activities associated with ServiceNow, we pivot to a closer look at the company's own performance.
ServiceNow's Current Market Status
- With a volume of 45,820, the price of NOW is down -1.29% at $1084.96.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 26 days.
Expert Opinions on ServiceNow
5 market experts have recently issued ratings for this stock, with a consensus target price of $1222.0.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from TD Cowen persists with their Buy rating on ServiceNow, maintaining a target price of $1300. * An analyst from Canaccord Genuity persists with their Buy rating on ServiceNow, maintaining a target price of $1200. * Maintaining their stance, an analyst from Oppenheimer continues to hold a Outperform rating for ServiceNow, targeting a price of $1150. * An analyst from Wells Fargo persists with their Overweight rating on ServiceNow, maintaining a target price of $1250. * Maintaining their stance, an analyst from Mizuho continues to hold a Outperform rating for ServiceNow, targeting a price of $1210.
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.
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