Whales with a lot of money to spend have taken a noticeably bullish stance on ServiceNow.
Looking at options history for ServiceNow NOW we detected 20 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 40% with bearish.
From the overall spotted trades, 8 are puts, for a total amount of $579,983 and 12, calls, for a total amount of $433,917.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $670.0 to $880.0 for ServiceNow during the past quarter.
Insights into Volume & Open Interest
In terms of liquidity and interest, the mean open interest for ServiceNow options trades today is 159.47 with a total volume of 733.00.
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 $670.0 to $880.0 over the last 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 | 08/16/24 | $36.1 | $33.0 | $33.0 | $840.00 | $198.3K | 64 | 60 |
| NOW | PUT | TRADE | BEARISH | 08/02/24 | $19.0 | $16.9 | $19.0 | $840.00 | $95.0K | 99 | 106 |
| NOW | CALL | SWEEP | BEARISH | 08/02/24 | $11.8 | $11.0 | $11.08 | $840.00 | $77.2K | 152 | 91 |
| NOW | PUT | SWEEP | BULLISH | 07/26/24 | $13.4 | $8.8 | $9.02 | $835.00 | $71.2K | 317 | 109 |
| NOW | PUT | SWEEP | BULLISH | 07/26/24 | $12.6 | $8.6 | $8.6 | $835.00 | $70.5K | 317 | 184 |
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.
Where Is ServiceNow Standing Right Now?
- Trading volume stands at 292,458, with NOW's price up by 0.97%, positioned at $836.8.
- RSI indicators show the stock to be may be approaching overbought.
- Earnings announcement expected in 89 days.
What The Experts Say On ServiceNow
5 market experts have recently issued ratings for this stock, with a consensus target price of $824.2.
- An analyst from Guggenheim has revised its rating downward to Sell, adjusting the price target to $640.
- Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on ServiceNow with a target price of $820.
- Consistent in their evaluation, an analyst from Citigroup keeps a Buy rating on ServiceNow with a target price of $911.
- An analyst from JMP Securities persists with their Market Outperform rating on ServiceNow, maintaining a target price of $850.
- An analyst from Baird persists with their Outperform rating on ServiceNow, maintaining a target price of $900.
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.
© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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