A whale with a lot of money to spend has taken a noticeably bearish stance on ServiceNow.
Looking at options history for ServiceNow NOW we detected 10 strange trades.
If we consider the specifics of each trade, it is accurate to state that 40% of the investors opened trades with bullish expectations and 60% with bearish.
From the overall spotted trades, 2 are puts, for a total amount of $71,300 and 8, calls, for a total amount of $395,010.
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 $450.0 to $720.0 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 188.9 with a total volume of 207.00.
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 $450.0 to $720.0 over 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 | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NOW | CALL | SWEEP | BEARISH | 01/19/24 | $550.00 | $80.5K | 209 | 14 |
| NOW | CALL | SWEEP | BULLISH | 08/18/23 | $510.00 | $71.5K | 91 | 14 |
| NOW | CALL | TRADE | BULLISH | 01/17/25 | $720.00 | $55.2K | 128 | 10 |
| NOW | PUT | TRADE | BEARISH | 07/21/23 | $510.00 | $45.0K | 323 | 100 |
| NOW | CALL | TRADE | NEUTRAL | 11/17/23 | $500.00 | $41.5K | 24 | 5 |
Where Is ServiceNow Standing Right Now?
- With a volume of 212,453, the price of NOW is up 0.4% at $545.13.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 30 days.
What The Experts Say On ServiceNow:
- Needham downgraded its action to Buy with a price target of $660
- Wells Fargo has decided to maintain their Overweight rating on ServiceNow, which currently sits at a price target of $625.
- Bernstein has decided to maintain their Outperform rating on ServiceNow, which currently sits at a price target of $665.
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.
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