Investors with a lot of money to spend have taken a bullish stance on ServiceNow ( NOW ) .

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with NOW, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 23 uncommon options trades for ServiceNow ( NOW ).

This isn't normal.

The overall sentiment of these big-money traders is split between 26% bullish and 21%, bearish.

Out of all of the special options we uncovered, 4 are puts, for a total amount of $677,770, and 19 are calls, for a total amount of $2,030,612.

What's The Price Target?

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $880.0 to $1200.0 for ServiceNow ( NOW ) over the recent three months.

Analyzing Volume & Open Interest

Assessing the volume and open interest is a strategic step in options trading. These metrics shed light on the liquidity and investor interest in ServiceNow's ( NOW ) options at specified strike prices. The forthcoming data visualizes the fluctuation in volume and open interest for both calls and puts, linked to ServiceNow's ( NOW ) substantial trades, within a strike price spectrum from $880.0 to $1200.0 over the preceding 30 days.

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

Present Market Standing of ServiceNow

With a trading volume of 395,904, the price of NOW is up by 1.55%, reaching $1027.12.

Current RSI values indicate that the stock is may be approaching overbought.

Next earnings report is scheduled for 26 days from now.

What Analysts Are Saying About ServiceNow

2 market experts have recently issued ratings for this stock, with a consensus target price of $1125.0.

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* An analyst from DA Davidson has revised its rating downward to Buy, adjusting the price target to $1150.

* Maintaining their stance, an analyst from Mizuho continues to hold a Outperform rating for ServiceNow ( NOW ), targeting a price of $1100.

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.