Financial giants have made a conspicuous bearish move on ServiceNow ( NOW ). Our analysis of options history for ServiceNow ( NOW ) revealed 23 unusual trades.
Delving into the details, we found 26% of traders were bullish, while 43% showed bearish tendencies. Out of all the trades we spotted, 14 were puts, with a value of $1,329,090, and 9 were calls, valued at $478,806.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $600.0 to $1080.0 for ServiceNow ( NOW ) during the past quarter.
In today's trading context, the average open interest for options of ServiceNow ( NOW ) stands at 131.59, with a total volume reaching 504.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in ServiceNow ( NOW ), situated within the strike price corridor from $600.0 to $1080.0, throughout the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NOW | PUT | TRADE | NEUTRAL | 0 | 100 | ||||||
| NOW | PUT | TRADE | BEARISH | 0 | 42 | ||||||
| NOW | CALL | TRADE | BEARISH | 179 | 100 | ||||||
| NOW | PUT | TRADE | NEUTRAL | 716 | 14 | ||||||
| NOW | CALL | TRADE | BEARISH | 23 | 10 |
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.
With a volume of 959,561, the price of NOW is down -1.96% at $826.41.
RSI indicators hint that the underlying stock may be approaching oversold.
Next earnings are expected to be released in 36 days.
A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $1144.6.
Unusual Options Activity Detected: Smart Money on the Move
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* Consistent in their evaluation, an analyst from Mizuho keeps a Outperform rating on ServiceNow ( NOW ) with a target price of $1100.
* An analyst from Cantor Fitzgerald has revised its rating downward to Overweight, adjusting the price target to $1048.
* An analyst from Citizens Capital Markets has revised its rating downward to Market Outperform, adjusting the price target to $1300.
* Consistent in their evaluation, an analyst from UBS keeps a Buy rating on ServiceNow ( NOW ) with a target price of $1000.
* Maintaining their stance, an analyst from Canaccord Genuity continues to hold a Buy rating for ServiceNow ( NOW ), targeting a price of $1275.
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.
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