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 28 extraordinary options activities for ServiceNow ( NOW ). This level of activity is out of the ordinary.

The general mood among these heavyweight investors is divided, with 64% leaning bullish and 17% bearish. Among these notable options, 5 are puts, totaling $143,900, and 23 are calls, amounting to $1,279,762.

Expected Price Movements

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $800.0 to $1500.0 for ServiceNow ( NOW ) during the past quarter.

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 ( NOW ) 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 ( NOW ) whale trades within a strike price range from $800.0 to $1500.0 in the last 30 days.

ServiceNow Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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.

Following our analysis of the options activities associated with ServiceNow ( NOW ), we pivot to a closer look at the company's own performance.

Present Market Standing of ServiceNow

Trading volume stands at 605,369, with NOW's price up by 3.01%, positioned at $1009.54.

RSI indicators show the stock to be may be overbought.

Earnings announcement expected in 72 days.

What The Experts Say On ServiceNow

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $1096.8.

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* In a cautious move, an analyst from JMP Securities downgraded its rating to Market Outperform, setting a price target of $1300.

* An analyst from Scotiabank has decided to maintain their Sector Outperform rating on ServiceNow ( NOW ), which currently sits at a price target of $1075.

* Consistent in their evaluation, an analyst from Barclays keeps a Overweight rating on ServiceNow ( NOW ) with a target price of $969.

* Consistent in their evaluation, an analyst from JP Morgan keeps a Overweight rating on ServiceNow ( NOW ) with a target price of $1020.

* An analyst from Piper Sandler has decided to maintain their Overweight rating on ServiceNow ( NOW ), which currently sits at a price target of $1120.

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 ( NOW ), Benzinga Pro gives you real-time options trades alerts.