Whales with a lot of money to spend have taken a significantly bearish position ServiceNow.
I’m looking at the options history for ServiceNow NOW we detected 56 operations.
If we consider the specifics of each operation, it is correct to say that 35% of investors opened operations with bullish expectations and 64% with bearish expectations.
Of the total transactions spotted, 25 are puts, for a total amount of $1,473,153 and 31 are calls, for a total amount of $2,469,435.
What is the target price?
Taking into account the volume and open interest on these contracts, it appears that whales have been targeting a price range between $300.0 and $1040.0 for ServiceNow over the last 3 months.
Development of open volumes and interests
Looking at volume and open interest is a powerful move when trading options. This data can help you track liquidity and interest for ServiceNow options for a given strike price. Below, we can observe the evolution of call and put volume and open interest respectively for all ServiceNow whale trades within a strike price range of $300.0 to $1,040.0 over the last 30 days.
ServiceNow options volume and open interest over the last 30 days
Noteworthy options activities:
| Symbol | PUT/CALL | Type of trade | Feeling | Exp. Date | Ask | Offer | Price | Strike price | Total commercial price | Open interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NOW | CALL | SWEEP | BEARISH | 01/17/25 | $108.8 | $106.7 | $108.8 | $700.00 | $598.4K | 142 | 56 |
| NOW | PUT | TRADE | BEARISH | 01/16/26 | $37.0 | $31.7 | $36.50 | $500.00 | $310.2K | 35 | 85 |
| NOW | CALL | TRADE | BULLISH | 05/10/24 | $39.1 | $36.7 | $39.1 | $700.00 | $293.2K | 9 | 75 |
| NOW | CALL | SWEEP | BULLISH | 05/17/24 | $32.8 | $32.1 | $32.1 | $720.00 | $227.9K | 75 | 2 |
| NOW | CALL | TRADE | BULLISH | 08/16/24 | $33.0 | $31.9 | $33.0 | $800.00 | $132.0K | 131 | 0 |
About ServiceNow
ServiceNow Inc provides software solutions to structure and automate various business processes via a SaaS delivery model. The company mainly focuses on the IT function for enterprise customers. ServiceNow started with IT service management, expanded within the IT function, and more recently has driven workflow automation logic to functional areas outside of IT, notably customer service, service delivery HR and security operations. ServiceNow also offers an application development platform as a service.
Current location of ServiceNow
- Trading volume stands at 1,536,830, with NOW price down -2.39%, positioned at $713.91.
- RSI indicators show that the stock is currently neutral between overbought and oversold.
- Earnings announcement expected in 5 days.
Options are a riskier asset than simply trading stocks, 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 up to date on the latest options trades for ServiceNow, Benzinga Pro provides real-time alerts on options trades.