High-rolling investors have positioned themselves bearish on ServiceNow NOW, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in NOW often signals that someone has privileged information.
Today, Benzinga's options scanner spotted 8 options trades for ServiceNow. This is not a typical pattern.
The sentiment among these major traders is split, with 25% bullish and 62% bearish. Among all the options we identified, there was one put, amounting to $142,600, and 7 calls, totaling $373,558.
Expected Price Movements
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $640.0 to $1500.0 for ServiceNow over the last 3 months.
Analyzing Volume & Open Interest
Looking at the volume and open interest is a powerful move while trading options. 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 trades within a strike price range from $640.0 to $1500.0 in 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 | TRADE | BEARISH | 02/21/25 | $356.5 | $350.3 | $356.5 | $1460.00 | $142.6K | 4 | 4 |
| NOW | CALL | TRADE | BEARISH | 01/16/26 | $59.4 | $57.0 | $57.77 | $1500.00 | $115.5K | 56 | 20 |
| NOW | CALL | TRADE | BULLISH | 12/18/26 | $177.9 | $175.5 | $177.9 | $1300.00 | $88.9K | 9 | 5 |
| NOW | CALL | TRADE | BEARISH | 01/17/25 | $470.5 | $466.9 | $466.9 | $640.00 | $46.6K | 289 | 1 |
| NOW | CALL | TRADE | BEARISH | 01/17/25 | $409.4 | $405.0 | $405.0 | $700.00 | $40.5K | 73 | 1 |
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?
- With a trading volume of 296,470, the price of NOW is down by -1.19%, reaching $1101.45.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 35 days from now.
Expert Opinions on ServiceNow
5 market experts have recently issued ratings for this stock, with a consensus target price of $1184.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access. * An analyst from Mizuho persists with their Outperform rating on ServiceNow, maintaining a target price of $1070. * An analyst from TD Cowen has decided to maintain their Buy rating on ServiceNow, which currently sits at a price target of $1300. * An analyst from Jefferies has decided to maintain their Buy rating on ServiceNow, which currently sits at a price target of $1250. * An analyst from Oppenheimer persists with their Outperform rating on ServiceNow, maintaining a target price of $1150. * Maintaining their stance, an analyst from Needham continues to hold a Buy rating for ServiceNow, targeting a price of $1150.
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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