Deep-pocketed investors have adopted a bearish 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 22 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 22% leaning bullish and 45% bearish. Among these notable options, 8 are puts, totaling $439,072, and 14 are calls, amounting to $718,491.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $700.0 to $1150.0 for ServiceNow ( NOW ) during the past quarter.
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 $700.0 to $1150.0 in the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NOW | CALL | SWEEP | BULLISH | 18 | 5 | ||||||
| NOW | CALL | TRADE | BULLISH | 12 | 5 | ||||||
| NOW | PUT | SWEEP | BEARISH | 3 | 200 | ||||||
| NOW | PUT | SWEEP | BEARISH | 3 | 100 | ||||||
| NOW | CALL | SWEEP | BEARISH | 17 | 41 |
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.
With a trading volume of 184,720, the price of NOW is down by -1.68%, reaching $1063.31.
Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
Next earnings report is scheduled for 23 days from now.
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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.
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