Someone with a lot of money to spend had a good stance Service Today (NYSE: NOW).
And retail traders should know.
We noticed this today when a big position emerged in the history of publicly available options that we monitor here at Benzinga.
Whether it’s an institution or just a wealthy individual, we don’t know. But when something this big happens NOW, it often means someone knows something is going to happen.
Today, Benzinga’s options scanner has detected 11 options trading for ServiceNow.
This is not normal.
The overall sentiment of big-money traders is divided between 63% bullish and 36%, bearish.
Of all the options we discovered, 10 were placed, for a total amount of $ 2,141,329, and there was 1 call, for a total amount of $ 29,750.
What is the Target Price?
Considering the Volume and Open Interest in these contracts, it appears that Whales has been targeting a price range from $ 480.0 to $ 650.0 for ServiceNow over the past 3 months.
Volume and Open Interest Development
Looking at quantity and open interest is a powerful step while trading options. This data can help you track liquidity and interest for ServiceNow options for a particular strike price. Below, we can observe the evolution of volume and open interest calls and placements, respectively, for all ServiceNow whale trades within a strike price range from $ 480.0 to $ 650.0 over the past 30 days.
ServiceNow Option Volume And Open Interest Over Last 30 Days
Largest Options Seen:
| Symbol | PUT/CALL | Type of Trade | Sentiment | Exp. Date | Strike Price | Total Trading Price | Open Interest | Quantity |
|---|---|---|---|---|---|---|---|---|
| NOW | PUT | TRADE | NEUTRAL | 01/19/24 | $ 480.00 | $ 1.6M | 2 | 200 |
| NOW | PUT | TRADE | NEUTRAL | 02/11/22 | $ 650.00 | $ 119.7K | 0 | 10 |
| NOW | PUT | WALIS | BULLISH | 01/21/22 | $ 530.00 | $ 86.7K | 278 | 22 |
| NOW | PUT | WALIS | BULLISH | 01/21/22 | $ 530.00 | $ 81.9K | 278 | 127 |
| NOW | PUT | WALIS | BULLISH | 01/21/22 | $ 530.00 | $ 70.6K | 278 | 327 |
Where Does ServiceNow Stand Now?
- At a volume of 2,483,049, the NOW price dropped -0.2% to $ 521.32.
- RSI indicators indicate that the underlying stock may be oversold.
- Subsequent earnings are expected to be released within 7 days.
Options are more risky assets compared to just stock trading, 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 closely the markets.
If you are already an options trader or want to get started, head to Benzinga Pro. Benzinga Pro provides you with up-to-date news and analytics to empower your investment and trading strategy.