Deep-pocketed investors have adopted a bearish approach towards ServiceNow NOW, and it's something market players shouldn't ignore. Our tracking of public options records at Benzinga unveiled this significant move today. The identity of these investors remains unknown, but such a substantial move in NOW usually suggests something big is about to happen.
We gleaned this information from our observations today when Benzinga's options scanner highlighted 21 extraordinary options activities for ServiceNow. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 23% leaning bullish and 38% bearish. Among these notable options, 3 are puts, totaling $156,880, and 18 are calls, amounting to $1,092,703.
Predicted Price Range
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $670.0 to $1300.0 for ServiceNow over the recent three months.
Volume & Open Interest Trends
In terms of liquidity and interest, the mean open interest for ServiceNow options trades today is 108.94 with a total volume of 257.00.
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 $1300.0 over the last 30 days.
ServiceNow Option Volume And Open Interest Over 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 | CALL | TRADE | BEARISH | 03/21/25 | $74.0 | $68.3 | $69.5 | $1140.00 | $139.0K | 159 | 20 |
| NOW | CALL | TRADE | BULLISH | 02/28/25 | $50.0 | $47.1 | $50.0 | $1150.00 | $125.0K | 52 | 37 |
| NOW | CALL | TRADE | NEUTRAL | 01/15/27 | $199.7 | $186.3 | $191.8 | $1300.00 | $115.0K | 382 | 6 |
| NOW | PUT | TRADE | BEARISH | 01/31/25 | $19.4 | $16.4 | $19.4 | $1100.00 | $96.9K | 224 | 0 |
| NOW | CALL | TRADE | BEARISH | 02/28/25 | $73.9 | $68.0 | $69.74 | $1150.00 | $90.6K | 52 | 39 |
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.
Where Is ServiceNow Standing Right Now?
- Trading volume stands at 306,760, with NOW's price up by 2.72%, positioned at $1171.67.
- RSI indicators show the stock to be may be overbought.
- Earnings announcement expected in 1 days.
What The Experts Say On ServiceNow
Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $1151.6.
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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. * An analyst from Citigroup persists with their Buy rating on ServiceNow, maintaining a target price of $1432. * Consistent in their evaluation, an analyst from Piper Sandler keeps a Overweight rating on ServiceNow with a target price of $1200. * An analyst from Guggenheim downgraded its action to Sell with a price target of $716. * Maintaining their stance, an analyst from RBC Capital continues to hold a Outperform rating for ServiceNow, targeting a price of $1210. * An analyst from Goldman Sachs has decided to maintain their Buy rating on ServiceNow, which currently sits at a price target of $1200.
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.
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