A person with a lot of money to spend had a good 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 19 unusual options trades for ServiceNow.
This is not normal.
The overall sentiment of these big money traders was split between 52% bullish and 47%, bearish.
Of all the special options we discovered, 16 were puts, for a total value of $1,635,652, and 3 were calls, for a total value of $454,080.
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 $290.0 to $550.0 for ServiceNow over the past 3 months.
Volume and Open Interest Development
In terms of liquidity and interest, the mean open interest for ServiceNow options is currently trading at 296.76 with a total volume of 472.00.
In the following chart, we can track the volume and open interest development of call and put options for large ServiceNow currency trades within the strike price range of $290.0 to $550.0 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 | 06/16/23 | $450.00 | $499.1K | 133 | 0 |
| NOW | CALL | TRADE | BULLISH | 01/20/23 | $400.00 | $372.4K | 178 | 100 |
| NOW | PUT | TRADE | BULLISH | 06/16/23 | $450.00 | $268.8K | 133 | 80 |
| NOW | PUT | BROOM | BULLISH | 09/30/22 | $490.00 | $205.6K | 0 | 20 |
| NOW | PUT | BROOM | BULLISH | 11/18/22 | $350.00 | $155.0K | 194 | 104 |
| Symbol | PUT/CALL | Type of Trade | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Quantity |
|---|---|---|---|---|---|---|---|---|
| NOW | PUT | BROOM | BEARISH | 06/16/23 | $450.00 | $499.1K | 133 | 0 |
| NOW | CALL | TRADE | BULLISH | 01/20/23 | $400.00 | $372.4K | 178 | 100 |
| NOW | PUT | TRADE | BULLISH | 06/16/23 | $450.00 | $268.8K | 133 | 80 |
| NOW | PUT | BROOM | BULLISH | 09/30/22 | $490.00 | $205.6K | 0 | 20 |
| NOW | PUT | BROOM | BULLISH | 11/18/22 | $350.00 | $155.0K | 194 | 104 |
Where Does ServiceNow Stand Today?
- On volume of 820,030, NOW’s price rose 2.19% to $387.24.
- RSI indicators indicate that the underlying stock may be approaching oversold.
- The next earnings are expected to be released within 28 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.