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 36 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 33% leaning bullish and 44% bearish. Among these notable options, 7 are puts, totaling $749,704, and 29 are calls, amounting to $1,810,506.
Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $550.0 to $1200.0 for ServiceNow ( NOW ) over the recent three months.
In terms of liquidity and interest, the mean open interest for ServiceNow ( NOW ) options trades today is 105.67 with a total volume of 665.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for ServiceNow's ( NOW ) big money trades within a strike price range of $550.0 to $1200.0 over 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 | 1 | 47 | ||||||
| NOW | PUT | SWEEP | NEUTRAL | 33 | 60 | ||||||
| NOW | CALL | TRADE | BEARISH | 302 | 12 | ||||||
| NOW | CALL | TRADE | BEARISH | 183 | 135 | ||||||
| NOW | CALL | TRADE | NEUTRAL | 183 | 175 |
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.
Currently trading with a volume of 522,746, the NOW's price is down by -2.18%, now at $1012.43.
RSI readings suggest the stock is currently is currently neutral between overbought and oversold.
Anticipated earnings release is in 15 days.
In the last month, 4 experts released ratings on this stock with an average target price of $1003.5.
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* Maintaining their stance, an analyst from Morgan Stanley continues to hold a Equal-Weight rating for ServiceNow ( NOW ), targeting a price of $1040.
* Consistent in their evaluation, an analyst from Mizuho keeps a Outperform rating on ServiceNow ( NOW ) with a target price of $1100.
* An analyst from DA Davidson downgraded its action to Buy with a price target of $1150.
* An analyst from Guggenheim downgraded its action to Sell with a price target of $724.
Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest ServiceNow ( NOW ) options trades with real-time alerts from Benzinga Pro.
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