Spotlight on ServiceNow: Analyzing the Surge in Options Activity

Financial giants have made a conspicuous bullish move on ServiceNow. Our analysis of options history for ServiceNow NOW revealed 38 unusual trades.

Delving into the details, we found 39% of traders were bullish, while 28% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $394,047, and 30 were calls, valued at $2,480,134.

Expected Price Movements

After evaluating the trading volumes and Open Interest, it’s evident that the major market movers are focusing on a price band between $520.0 and $1000.0 for ServiceNow, spanning the last three months.

Insights into Volume & Open Interest

In today’s trading context, the average open interest for options of ServiceNow stands at 150.58, with a total volume reaching 1,748.00. 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 $520.0 to $1000.0, throughout the last 30 days.

ServiceNow Option Activity Analysis: Last 30 Days

Options Call Chart

Largest Options Trades Observed:

Symbol	PUT/CALL	Trade Type	Sentiment	Exp. Date	Ask	Bid	Price	Strike Price	Total Trade Price	Open Interest	Volume
NOW	CALL	TRADE	BEARISH	01/16/26	$193.0	$184.1	$187.25	$860.00	$936.2K	25	50
NOW	CALL	SWEEP	BULLISH	01/17/25	$33.8	$30.6	$32.0	$1000.00	$153.6K	289	50
NOW	CALL	TRADE	BEARISH	12/20/24	$37.8	$37.0	$37.0	$950.00	$148.0K	127	40
NOW	PUT	SWEEP	BULLISH	10/25/24	$22.7	$21.0	$21.4	$890.00	$102.7K	78	68
NOW	PUT	SWEEP	NEUTRAL	10/25/24	$27.0	$25.5	$27.0	$910.00	$91.8K	79	43

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?

Trading volume stands at 738,362, with NOW’s price down by -1.48%, positioned at $904.41.
RSI indicators show the stock to be may be approaching overbought.
Earnings announcement expected in 0 days.

Professional Analyst Ratings for ServiceNow

5 market experts have recently issued ratings for this stock, with a consensus target price of $987.0.

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* An analyst from Morgan Stanley has revised its rating downward to Equal-Weight, adjusting the price target to $960.
* An analyst from Wells Fargo has decided to maintain their Overweight rating on ServiceNow, which currently sits at a price target of $1025.
* An analyst from Evercore ISI Group has decided to maintain their Outperform rating on ServiceNow, which currently sits at a price target of $950.
* Maintaining their stance, an analyst from Mizuho continues to hold a Outperform rating for ServiceNow, targeting a price of $980.
* An analyst from Oppenheimer has decided to maintain their Outperform rating on ServiceNow, which currently sits at a price target of $1020.

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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