A person with a lot of money to spend had a weak stance Service Today NOW.
And retail traders should know.
We noticed this today when a large position appeared in the history of publicly available options that we track here at Benzinga.
Whether it’s an institution or just a rich individual, we don’t know. But when something this big happens in the NOW, it often means that someone knew something was going to happen.
So how do we know what this whale did?
Today, Benzinga’s options scanner found 15 unusual options trades for ServiceNow.
This is not normal.
The overall sentiment of big-money traders was split between 26% bullish and 73%, bearish.
Of all the special options we uncovered, 11 were puts, for a total value of $947,375, and 4 were calls, for a total value of $150,503.
What is a Price Target?
Considering the Volume and Open Interest in these contracts, it appears that the whales are targeting a price range from $220.0 to $700.0 for ServiceNow over the past 3 months.
Volume and Open Interest Development
Looking at volume and open interest is an insightful way to perform due diligence on a stock.
This data can help you track liquidity and interest for ServiceNow options for a specific strike price.
Below, we can note the evolution of the volume and open interest of calls and puts, respectively, for all ServiceNow whale activity within the strike price range from $220.0 to $700.0 over the past 30 days.
ServiceNow Option Volume And Open Interest Over The Last 30 Days
Largest Options Seen:
| Symbol | PUT/CALL | Type of Trade | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Quantity |
|---|---|---|---|---|---|---|---|---|
| NOW | PUT | BROOM | BULLISH | 01/20/23 | $400.00 | $449.8K | 2.0K | 126 |
| NOW | PUT | TRADE | NEUTRAL | 01/19/24 | $650.00 | $120.7K | 88 | 5 |
| NOW | PUT | TRADE | BEARISH | 10/07/22 | $455.00 | $79.0K | 26 | 20 |
| NOW | CALL | BROOM | BULLISH | 11/18/22 | $450.00 | $57.0K | 321 | 41 |
| NOW | PUT | BROOM | BEARISH | 06/16/23 | $420.00 | $48.4K | 10 | 8 |
| Symbol | PUT/CALL | Type of Trade | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Quantity |
|---|---|---|---|---|---|---|---|---|
| NOW | PUT | BROOM | BULLISH | 01/20/23 | $400.00 | $449.8K | 2.0K | 126 |
| NOW | PUT | TRADE | NEUTRAL | 01/19/24 | $650.00 | $120.7K | 88 | 5 |
| NOW | PUT | TRADE | BEARISH | 10/07/22 | $455.00 | $79.0K | 26 | 20 |
| NOW | CALL | BROOM | BULLISH | 11/18/22 | $450.00 | $57.0K | 321 | 41 |
| NOW | PUT | BROOM | BEARISH | 06/16/23 | $420.00 | $48.4K | 10 | 8 |
Where Does ServiceNow Stand Today?
- With a volume of 750,059, the price of NOW dropped -2.79% to $413.2.
- RSI indicators indicate that the underlying stock may be approaching oversold.
- The next earnings are expected to be released within 36 days.
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 trading options for ServiceNow, Benzinga Pro gives you real-time trading options alerts.