A whale with a lot of money to spend has taken a noticeably bullish 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 50% of the investors opened trades with bullish expectations and 50% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $391,905 and 2, calls, for a total amount of $129,660.
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 $400.0 to $610.0 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 $400.0 to $610.0 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 | SWEEP | BEARISH | 10/27/23 | $550.00 | $102.0K | 50 | 235 |
| NOW | CALL | SWEEP | BULLISH | 10/20/23 | $555.00 | $73.5K | 123 | 100 |
| NOW | PUT | SWEEP | BULLISH | 05/17/24 | $400.00 | $60.9K | 1 | 59 |
| NOW | PUT | SWEEP | NEUTRAL | 10/27/23 | $550.00 | $58.0K | 50 | 1 |
| NOW | CALL | SWEEP | BEARISH | 10/20/23 | $555.00 | $56.1K | 123 | 204 |
Where Is ServiceNow Standing Right Now?
- With a volume of 353,347, the price of NOW is down -0.32% at $547.91.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 9 days.
What The Experts Say On ServiceNow:
- Stifel downgraded its action to Buy with a price target of $640
- 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.
Comments
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
