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 14 strange trades.
If we consider the specifics of each trade, it is accurate to state that 28% of the investors opened trades with bullish expectations and 71% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $762,870 and 4, calls, for a total amount of $156,886.
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 $350.0 to $630.0 for ServiceNow over the last 3 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 $350.0 to $630.0 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 | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NOW | PUT | TRADE | NEUTRAL | 01/17/25 | $450.00 | $198.9K | 177 | 0 |
| NOW | PUT | TRADE | BULLISH | 01/17/25 | $560.00 | $160.5K | 21 | 19 |
| NOW | PUT | TRADE | BEARISH | 01/17/25 | $620.00 | $94.4K | 29 | 8 |
| NOW | PUT | TRADE | BEARISH | 01/17/25 | $550.00 | $79.8K | 53 | 10 |
| NOW | PUT | TRADE | NEUTRAL | 01/17/25 | $560.00 | $76.2K | 21 | 28 |
Where Is ServiceNow Standing Right Now?
- With a volume of 618,368, the price of NOW is up 0.24% at $545.93.
- RSI indicators hint that the underlying stock may be oversold.
- Next earnings are expected to be released in 28 days.
What The Experts Say On ServiceNow:
- HSBC downgraded its action to Buy with a price target of $704
- JMP Securities downgraded its action to Market Outperform with 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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