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 this is an institution or just a wealthy individual, we don't know. But when something this big happens with NOW, it often means somebody knows something is about to happen.
Today, Benzinga's options scanner spotted 8 options trades for ServiceNow.
This isn't normal.
The overall sentiment of these big-money traders is split between 25% bullish and 75%, bearish.
Out of all of the options we uncovered, 7 are puts, for a total amount of $397,559, and there was 1 call, for a total amount of $49,110.
Expected Price Movements
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $600.0 to $1110.0 for ServiceNow during the past quarter.
Insights into Volume & Open Interest
In today's trading context, the average open interest for options of ServiceNow stands at 102.83, with a total volume reaching 86.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in ServiceNow, situated within the strike price corridor from $600.0 to $1110.0, throughout the last 30 days.
ServiceNow 30-Day Option Volume & Interest Snapshot
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NOW | PUT | TRADE | NEUTRAL | 06/20/25 | $372.3 | $362.8 | $367.55 | $1110.00 | $183.7K | 0 | 5 |
| NOW | CALL | SWEEP | BEARISH | 07/19/24 | $55.5 | $54.5 | $54.51 | $750.00 | $49.1K | 22 | 10 |
| NOW | PUT | TRADE | BEARISH | 09/20/24 | $22.7 | $20.5 | $22.0 | $630.00 | $44.0K | 138 | 20 |
| NOW | PUT | TRADE | BULLISH | 09/20/24 | $22.5 | $18.1 | $19.5 | $620.00 | $39.0K | 214 | 0 |
| NOW | PUT | TRADE | BULLISH | 04/26/24 | $37.0 | $36.4 | $36.4 | $760.00 | $36.4K | 31 | 11 |
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.
Having examined the options trading patterns of ServiceNow, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance
Current Position of ServiceNow
- Trading volume stands at 171,564, with NOW's price down by -0.46%, positioned at $741.34.
- RSI indicators show the stock to be is currently neutral between overbought and oversold.
- Earnings announcement expected in 7 days.
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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