Deep-pocketed investors have adopted a bearish approach towards ServiceNow NOW, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NOW usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 13 extraordinary options activities for ServiceNow. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 23% leaning bullish and 53% bearish. Among these notable options, 3 are puts, totaling $124,160, and 10 are calls, amounting to $1,739,147.
Projected Price Targets
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $1080.0 to $1300.0 for ServiceNow over the recent 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 $1080.0 to $1300.0 in the last 30 days.
ServiceNow Call and Put Volume: 30-Day Overview
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NOW | CALL | SWEEP | BEARISH | 01/24/25 | $59.6 | $56.0 | $56.0 | $1080.00 | $560.0K | 128 | 100 |
| NOW | CALL | TRADE | BEARISH | 01/15/27 | $191.7 | $183.6 | $186.69 | $1300.00 | $429.3K | 317 | 27 |
| NOW | CALL | TRADE | NEUTRAL | 01/15/27 | $191.7 | $178.3 | $185.4 | $1300.00 | $370.8K | 317 | 47 |
| NOW | CALL | SWEEP | BEARISH | 01/31/25 | $52.6 | $47.4 | $47.4 | $1110.00 | $94.8K | 47 | 39 |
| NOW | CALL | TRADE | BULLISH | 03/21/25 | $78.5 | $74.1 | $77.18 | $1110.00 | $77.1K | 11 | 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.
Current Position of ServiceNow
- Currently trading with a volume of 107,355, the NOW's price is up by 0.17%, now at $1136.16.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 5 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 $1248.4.
Unusual Options Activity Detected: Smart Money on the Move
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. * Maintaining their stance, an analyst from Goldman Sachs continues to hold a Buy rating for ServiceNow, targeting a price of $1200. * An analyst from RBC Capital has decided to maintain their Outperform rating on ServiceNow, which currently sits at a price target of $1210. * Reflecting concerns, an analyst from Cantor Fitzgerald lowers its rating to Overweight with a new price target of $1332. * An analyst from Piper Sandler persists with their Overweight rating on ServiceNow, maintaining a target price of $1200. * An analyst from JMP Securities has decided to maintain their Market Outperform rating on ServiceNow, which currently sits at a price target of $1300.
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 ServiceNow options trades with real-time alerts from Benzinga Pro.
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