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 16 trades.
If we consider the specifics of each trade, it is accurate to state that 37% of the investors opened trades with bullish expectations and 43% with bearish.
From the overall spotted trades, 5 are puts, for a total amount of $265,400 and 11, calls, for a total amount of $712,486.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $690.0 to $1220.0 for ServiceNow over the recent three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for ServiceNow options trades today is 105.08 with a total volume of 1,038.00.
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 $690.0 to $1220.0 over 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 | CALL | TRADE | BULLISH | 01/17/25 | $58.9 | $55.9 | $58.0 | $1000.00 | $290.0K | 496 | 56 |
| NOW | CALL | TRADE | BEARISH | 01/17/25 | $47.8 | $44.7 | $45.5 | $1020.00 | $91.0K | 156 | 33 |
| NOW | PUT | TRADE | BEARISH | 11/29/24 | $4.6 | $3.6 | $4.3 | $940.00 | $73.1K | 37 | 310 |
| NOW | PUT | TRADE | NEUTRAL | 11/29/24 | $4.4 | $3.6 | $4.0 | $940.00 | $63.2K | 37 | 468 |
| NOW | PUT | TRADE | BEARISH | 11/29/24 | $4.6 | $3.6 | $4.2 | $940.00 | $58.8K | 37 | 140 |
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.
After a thorough review of the options trading surrounding ServiceNow, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
Current Position of ServiceNow
- With a volume of 475,438, the price of NOW is up 0.4% at $998.5.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 76 days.
What Analysts Are Saying About ServiceNow
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $976.0.
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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. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for ServiceNow, targeting a price of $950. * An analyst from Morgan Stanley downgraded its action to Equal-Weight with a price target of $960. * An analyst from Truist Securities has decided to maintain their Hold rating on ServiceNow, which currently sits at a price target of $900. * An analyst from TD Cowen has decided to maintain their Buy rating on ServiceNow, which currently sits at a price target of $1025. * Consistent in their evaluation, an analyst from RBC Capital keeps a Outperform rating on ServiceNow with a target price of $1045.
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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