Deep-pocketed investors have adopted a bullish 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 40 extraordinary options activities for ServiceNow. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 55% leaning bullish and 30% bearish. Among these notable options, 22 are puts, totaling $1,705,939, and 18 are calls, amounting to $8,258,270.
Projected Price Targets
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $410.0 and $1260.0 for ServiceNow, spanning the last three months.
Analyzing Volume & Open Interest
In today's trading context, the average open interest for options of ServiceNow stands at 225.45, with a total volume reaching 1,353.00. 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 $410.0 to $1260.0, throughout the last 30 days.
ServiceNow Option Activity Analysis: Last 30 Days
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 | BEARISH | 01/15/27 | $146.3 | $134.5 | $134.5 | $940.00 | $6.9M | 1.0K | 521 |
| NOW | PUT | TRADE | BEARISH | 03/21/25 | $155.8 | $153.3 | $155.8 | $960.00 | $389.5K | 320 | 25 |
| NOW | CALL | SWEEP | BULLISH | 05/16/25 | $63.5 | $62.9 | $63.5 | $820.00 | $361.9K | 9 | 67 |
| NOW | PUT | TRADE | BEARISH | 03/21/25 | $181.0 | $176.0 | $181.0 | $1000.00 | $144.8K | 176 | 8 |
| NOW | CALL | SWEEP | BULLISH | 01/16/26 | $64.0 | $58.5 | $64.0 | $1000.00 | $128.0K | 436 | 31 |
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.
Where Is ServiceNow Standing Right Now?
- With a trading volume of 1,151,416, the price of NOW is up by 4.36%, reaching $817.98.
- Current RSI values indicate that the stock is may be oversold.
- Next earnings report is scheduled for 43 days from now.
Expert Opinions on ServiceNow
Over the past month, 4 industry analysts have shared their insights on this stock, proposing an average target price of $1155.75.
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 Citizens Capital Markets has revised its rating downward to Market Outperform, adjusting the price target to $1300. * Consistent in their evaluation, an analyst from UBS keeps a Buy rating on ServiceNow with a target price of $1000. * An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $1048. * Consistent in their evaluation, an analyst from Canaccord Genuity keeps a Buy rating on ServiceNow with a target price of $1275.
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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