Whales with a lot of money to spend have taken a noticeably bearish stance on ServiceNow.
Looking at options history for ServiceNow NOW we detected 11 trades.
If we consider the specifics of each trade, it is accurate to state that 36% of the investors opened trades with bullish expectations and 54% with bearish.
From the overall spotted trades, 3 are puts, for a total amount of $99,575 and 8, calls, for a total amount of $351,728.
Projected Price Targets
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $760.0 to $1200.0 for ServiceNow over the last 3 months.
Volume & Open Interest Trends
In today's trading context, the average open interest for options of ServiceNow stands at 272.3, with a total volume reaching 765.00. 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 $760.0 to $1200.0, throughout the last 30 days.
ServiceNow Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NOW | CALL | SWEEP | BULLISH | 10/04/24 | $2.85 | $2.0 | $2.6 | $910.00 | $104.0K | 493 | 613 |
| NOW | CALL | TRADE | BEARISH | 10/04/24 | $3.0 | $2.75 | $2.75 | $910.00 | $53.9K | 493 | 16 |
| NOW | CALL | TRADE | NEUTRAL | 12/18/26 | $243.8 | $236.3 | $240.0 | $820.00 | $48.0K | 10 | 0 |
| NOW | PUT | TRADE | BULLISH | 12/20/24 | $17.1 | $16.3 | $16.5 | $760.00 | $41.2K | 83 | 27 |
| NOW | CALL | TRADE | BEARISH | 12/20/24 | $67.1 | $66.0 | $66.0 | $880.00 | $39.6K | 72 | 7 |
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.
In light of the recent options history for ServiceNow, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Current Position of ServiceNow
- With a volume of 232,204, the price of NOW is down -1.69% at $879.31.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 22 days.
What The Experts Say On ServiceNow
In the last month, 1 experts released ratings on this stock with an average target price of $900.0.
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20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * In a cautious move, an analyst from Needham downgraded its rating to Buy, setting a price target of $900.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for ServiceNow with Benzinga Pro for real-time alerts.
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