Whales with a lot of money to spend have taken a noticeably bearish stance on ServiceNow ( NOW ).

Looking at options history for ServiceNow ( NOW ) we detected 46 trades.

If we consider the specifics of each trade, it is accurate to state that 41% of the investors opened trades with bullish expectations and 50% with bearish.

From the overall spotted trades, 25 are puts, for a total amount of $1,241,838 and 21, calls, for a total amount of $1,222,736.

What's The Price Target?

After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $500.0 and $1000.0 for ServiceNow ( NOW ), spanning the last three months.

Volume & Open Interest Trends

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for ServiceNow's ( NOW ) options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across ServiceNow's ( NOW ) significant trades, within a strike price range of $500.0 to $1000.0, over the past month.

ServiceNow 30-Day Option Volume & Interest Snapshot

Noteworthy Options Activity:

About ServiceNow

ServiceNow Inc ( NOW ) 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 ( NOW ) 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 ( NOW ) also offers an application development platform as a service.

Having examined the options trading patterns of ServiceNow ( NOW ), our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

ServiceNow's Current Market Status

With a volume of 769,057, the price of NOW is down -1.39% at $877.92.

RSI indicators hint that the underlying stock may be approaching oversold.

Next earnings are expected to be released in 62 days.

What The Experts Say On ServiceNow

5 market experts have recently issued ratings for this stock, with a consensus target price of $1185.0.

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* An analyst from Jefferies persists with their Buy rating on ServiceNow ( NOW ), maintaining a target price of $1150.

* An analyst from DA Davidson persists with their Buy rating on ServiceNow ( NOW ), maintaining a target price of $1250.

* An analyst from Oppenheimer has revised its rating downward to Outperform, adjusting the price target to $1150.

* An analyst from Piper Sandler has decided to maintain their Overweight rating on ServiceNow ( NOW ), which currently sits at a price target of $1150.

* An analyst from Wells Fargo has decided to maintain their Overweight rating on ServiceNow ( NOW ), which currently sits at a price target of $1225.

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 ( NOW ) with Benzinga Pro for real-time alerts.