Financial giants have made a conspicuous bullish move on ServiceNow. Our analysis of options history for ServiceNow (NYSE:NOW) revealed 31 unusual trades.
Delving into the details, we found 64% of traders were bullish, while 22% showed bearish tendencies. Out of all the trades we spotted, 5 were puts, with a value of $263,650, and 26 were calls, valued at $4,188,422.
What's The Price Target?
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 $920.0 for ServiceNow, spanning the last three months.
Insights into Volume & Open Interest
Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.
This data can help you track the liquidity and interest for ServiceNow's options for a given strike price.
Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of ServiceNow's whale activity within a strike price range from $600.0 to $920.0 in the last 30 days.
ServiceNow Option Activity Analysis: Last 30 Days
Noteworthy Options Activity:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| NOW | CALL | SWEEP | BEARISH | 10/18/24 | $72.6 | $72.5 | $72.6 | $830.00 | $761.3K | 1.1K | 410 |
| NOW | CALL | SWEEP | BULLISH | 10/18/24 | $72.5 | $70.1 | $72.5 | $830.00 | $551.0K | 1.1K | 124 |
| NOW | CALL | SWEEP | BULLISH | 10/18/24 | $71.5 | $69.8 | $71.5 | $830.00 | $507.6K | 1.1K | 505 |
| NOW | CALL | SWEEP | BULLISH | 10/18/24 | $72.0 | $68.9 | $72.0 | $830.00 | $396.0K | 1.1K | 282 |
| NOW | CALL | SWEEP | BULLISH | 10/18/24 | $67.0 | $65.7 | $67.0 | $830.00 | $301.5K | 1.1K | 205 |
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.
ServiceNow's Current Market Status
- With a trading volume of 73,478, the price of NOW is down by -3.35%, reaching $892.67.
- Current RSI values indicate that the stock is may be approaching overbought.
- Next earnings report is scheduled for 28 days from now.
Expert Opinions on ServiceNow
1 market experts have recently issued ratings for this stock, with a consensus target price of $900.0.
Unusual Options Activity Detected: Smart Money on the Move
Benzinga Edge's Unusual Options board spots potential market movers before they happen. See what positions big money is taking on your favorite stocks. Click here for access.* Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $900.
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.