Investors with a lot of money to spend have taken a bearish stance on ServiceNow (NYSE:NOW).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with NOW, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 23 uncommon options trades for ServiceNow.
This isn't normal.
The overall sentiment of these big-money traders is split between 34% bullish and 39%, bearish.
Out of all of the special options we uncovered, 7 are puts, for a total amount of $868,550, and 16 are calls, for a total amount of $1,061,505.
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 $1200.0 for ServiceNow, spanning the last three months.
Insights into 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 $410.0 to $1200.0 in the last 30 days.
ServiceNow 30-Day Option Volume & Interest Snapshot
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 | NEUTRAL | 01/15/27 | $80.0 | $72.2 | $75.6 | $800.00 | $567.0K | 176 | 75 |
| NOW | CALL | TRADE | NEUTRAL | 03/20/26 | $45.9 | $40.3 | $43.1 | $1100.00 | $323.2K | 199 | 81 |
| NOW | CALL | SWEEP | BEARISH | 02/20/26 | $88.9 | $87.0 | $87.0 | $950.00 | $139.2K | 35 | 18 |
| NOW | CALL | TRADE | BEARISH | 10/31/25 | $50.5 | $49.4 | $49.4 | $937.50 | $74.1K | 6 | 35 |
| NOW | PUT | TRADE | BULLISH | 10/31/25 | $46.0 | $45.7 | $45.7 | $937.50 | $68.5K | 20 | 15 |
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
- Currently trading with a volume of 616,695, the NOW's price is up by 0.29%, now at $944.23.
- RSI readings suggest the stock is currently may be approaching overbought.
- Anticipated earnings release is in 7 days.
Professional Analyst Ratings for ServiceNow
Over the past month, 2 industry analysts have shared their insights on this stock, proposing an average target price of $1162.5.
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 Morgan Stanley has elevated its stance to Overweight, setting a new price target at $1250. * Consistent in their evaluation, an analyst from UBS keeps a Buy rating on ServiceNow with a target price of $1075.
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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