Investors with a lot of money to spend have taken a bearish stance on ServiceNow NOW.
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with NOW, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 36 uncommon options trades for ServiceNow.
This isn't normal.
The overall sentiment of these big-money traders is split between 27% bullish and 55%, bearish.
Out of all of the special options we uncovered, 16 are puts, for a total amount of $1,806,099, and 20 are calls, for a total amount of $1,056,438.
Expected Price Movements
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $630.0 and $1200.0 for ServiceNow, spanning the last three months.
Analyzing Volume & Open Interest
Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in ServiceNow's options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to ServiceNow's substantial trades, within a strike price spectrum from $630.0 to $1200.0 over the preceding 30 days.
ServiceNow Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NOW | PUT | SWEEP | NEUTRAL | 03/21/25 | $96.2 | $92.2 | $92.2 | $1020.00 | $359.5K | 1.2K | 41 |
| NOW | PUT | SWEEP | BEARISH | 03/21/25 | $92.0 | $89.9 | $92.0 | $1020.00 | $230.0K | 1.2K | 27 |
| NOW | PUT | TRADE | BEARISH | 01/16/26 | $36.5 | $34.3 | $36.5 | $740.00 | $219.0K | 77 | 60 |
| NOW | PUT | SWEEP | BEARISH | 03/07/25 | $23.7 | $21.8 | $23.7 | $935.00 | $215.6K | 97 | 0 |
| NOW | PUT | TRADE | NEUTRAL | 03/21/25 | $41.7 | $38.6 | $40.0 | $950.00 | $172.0K | 226 | 30 |
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
- With a volume of 705,357, the price of NOW is down -0.49% at $933.84.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 58 days.
Expert Opinions on ServiceNow
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $1271.4.
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 Jefferies persists with their Buy rating on ServiceNow, maintaining a target price of $1250. * An analyst from Citigroup persists with their Buy rating on ServiceNow, maintaining a target price of $1432. * An analyst from Needham persists with their Buy rating on ServiceNow, maintaining a target price of $1200. * An analyst from Baird persists with their Outperform rating on ServiceNow, maintaining a target price of $1200. * An analyst from Canaccord Genuity has decided to maintain their Buy rating on ServiceNow, which currently sits at a price target of $1275.
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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