A whale with a lot of money to spend took a remarkably bearish stance Service Today.
Viewing the history of options for ServiceNow NOW we found 25 unique trades.
If we consider the details of each trade, it is accurate to say that 44% of investors opened trades with bullish expectations and 56% with bearish ones.
From the overall spotted trades, 14 were puts, for a total value of $907,462 and 11, calls, for a total value of $475,250.
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 $250.0 to $600.0 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 given strike price.
Below, we can observe the evolution of volume and open interest of calls and puts, respectively, for all ServiceNow whale activity within the strike price range from $250.0 to $600.0 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 | BEARISH | 01/20/23 | $380.00 | $159.1K | 484 | 61 |
| NOW | PUT | TRADE | NEUTRAL | 11/18/22 | $420.00 | $108.1K | 106 | 21 |
| NOW | PUT | BROOM | BULLISH | 01/19/24 | $320.00 | $90.6K | 9 | 20 |
| NOW | CALL | TRADE | NEUTRAL | 01/19/24 | $500.00 | $88.0K | 175 | 30 |
| NOW | CALL | TRADE | BEARISH | 09/30/22 | $385.00 | $82.4K | 17 | 197 |
| Symbol | PUT/CALL | Type of Trade | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Quantity |
|---|---|---|---|---|---|---|---|---|
| NOW | PUT | BROOM | BEARISH | 01/20/23 | $380.00 | $159.1K | 484 | 61 |
| NOW | PUT | TRADE | NEUTRAL | 11/18/22 | $420.00 | $108.1K | 106 | 21 |
| NOW | PUT | BROOM | BULLISH | 01/19/24 | $320.00 | $90.6K | 9 | 20 |
| NOW | CALL | TRADE | NEUTRAL | 01/19/24 | $500.00 | $88.0K | 175 | 30 |
| NOW | CALL | TRADE | BEARISH | 09/30/22 | $385.00 | $82.4K | 17 | 197 |
Where Does ServiceNow Stand Today?
- With a volume of 1,484,822, the price of NOW is down -2.58% to $377.0.
- RSI indicators indicate that the underlying stock may be oversold.
- The next earnings are expected to be released within 33 days.
What Experts Are Saying About Today’s Service:
- MoffettNathanson lowered its stock to Hold with a price target of $553
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.