Market Whales and Their Recent Bets on NOW Options
Investors with a lot of money to spend have taken a bearish stance on ServiceNow NOW.
And retail traders should know.
We noticed this today when the positions 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.
Today, Benzinga’s options scanner spotted 36 options trades for ServiceNow.
This isn’t normal.
The overall sentiment of these big-money traders is split between 16% bullish and 52%, bearish.
Out of all of the options we uncovered, there was 1 put, for a total amount of $71,000, and 35, calls, for a total amount of $2,573,528.
Predicted Price Range
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $760.0 to $1400.0 for ServiceNow during the past quarter.
Analyzing Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
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 activity within a strike price range from $760.0 to $1400.0 in the last 30 days.
ServiceNow Option Activity Analysis: Last 30 Days
Significant Options Trades Detected:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NOW | CALL | TRADE | BULLISH | 02/21/25 | $67.0 | $64.6 | $67.0 | $1080.00 | $495.8K | 179 | 1 |
| NOW | CALL | TRADE | NEUTRAL | 03/21/25 | $20.3 | $18.0 | $19.2 | $1280.00 | $384.0K | 4 | 0 |
| NOW | CALL | SWEEP | NEUTRAL | 12/20/24 | $25.6 | $23.5 | $23.5 | $1080.00 | $235.5K | 300 | 101 |
| NOW | CALL | SWEEP | BULLISH | 12/20/24 | $64.3 | $63.9 | $64.27 | $1000.00 | $192.8K | 226 | 32 |
| NOW | CALL | TRADE | BEARISH | 01/17/25 | $43.7 | $41.2 | $41.2 | $1070.00 | $103.0K | 42 | 28 |
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.
Present Market Standing of ServiceNow
- With a volume of 727,156, the price of NOW is up 0.7% at $1068.0.
- RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
- Next earnings are expected to be released in 58 days.
Professional Analyst Ratings for ServiceNow
In the last month, 3 experts released ratings on this stock with an average target price of $1123.3333333333333.
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* An analyst from Mizuho has decided to maintain their Outperform rating on ServiceNow, which currently sits at a price target of $1070.
* Maintaining their stance, an analyst from Wells Fargo continues to hold a Overweight rating for ServiceNow, targeting a price of $1150.
* An analyst from Needham persists with their Buy rating on ServiceNow, maintaining a target 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.
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