Deep-pocketed investors have adopted a bearish approach towards ServiceNow (NYSE: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 46 extraordinary options activities for ServiceNow. This level of activity is out of the ordinary.
The general mood among these heavyweight investors is divided, with 34% leaning bullish and 39% bearish. Among these notable options, 27 are puts, totaling $1,601,192, and 19 are calls, amounting to $1,354,842.
Predicted Price Range
After evaluating the trading volumes and Open Interest, it's evident that the major market movers are focusing on a price band between $600.0 and $850.0 for ServiceNow, spanning the last three months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for ServiceNow options trades today is 180.22 with a total volume of 1,577.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for ServiceNow's big money trades within a strike price range of $600.0 to $850.0 over the last 30 days.
ServiceNow Option Volume And Open Interest Over Last 30 Days
Largest Options Trades Observed:
Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
NOW | PUT | SWEEP | BEARISH | 01/17/25 | $71.2 | $71.0 | $71.2 | $740.00 | $291.7K | 261 | 33 |
NOW | CALL | TRADE | BEARISH | 08/16/24 | $15.4 | $14.0 | $14.0 | $800.00 | $250.6K | 240 | 183 |
NOW | CALL | TRADE | BEARISH | 08/16/24 | $15.1 | $14.0 | $14.0 | $800.00 | $250.6K | 240 | 2 |
NOW | PUT | SWEEP | NEUTRAL | 01/17/25 | $71.4 | $71.0 | $71.23 | $740.00 | $170.9K | 261 | 33 |
NOW | CALL | TRADE | BEARISH | 09/20/24 | $47.5 | $46.0 | $46.35 | $740.00 | $139.0K | 346 | 30 |
About ServiceNow
ServiceNow Inc 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 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 also offers an application development platform as a service.
In light of the recent options history for ServiceNow, it's now appropriate to focus on the company itself. We aim to explore its current performance.
Present Market Standing of ServiceNow
With a trading volume of 963,441, the price of NOW is down by -0.42%, reaching $725.5.
Current RSI values indicate that the stock is is currently neutral between overbought and oversold.
Next earnings report is scheduled for 37 days from now.
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 with Benzinga Pro for real-time alerts.