A whale with a lot of money to spend had a noticeably bearish stance Service Today.
Viewing the history of options for ServiceNow NOW we saw 20 strange trades.
If we consider the details of each trade, it is accurate to say that 20% of investors opened trades with bullish expectations and 80% with bearish.
Of the overall spotted trades, 6 were placed, for a total value of $ 390,832 and 14, calls, for a total value of $ 569,810.
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 $ 190.0 to $ 600.0 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 $ 190.0 to $ 600.0 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 | BEARISH | 11/18/22 | $ 590.00 | $ 146.9K | 20 | 13 |
| NOW | PUT | WALIS | BEARISH | 04/29/22 | $ 450.00 | $ 90.3K | 93 | 259 |
| NOW | CALL | WALIS | NEUTRAL | 01/20/23 | $ 450.00 | $ 64.1K | 54 | 28 |
| NOW | CALL | TRADE | NEUTRAL | 06/17/22 | $ 400.00 | $ 57.9K | 245 | 5 |
| NOW | PUT | WALIS | BEARISH | 04/29/22 | $ 450.00 | $ 56.2K | 93 | 107 |
Where Does ServiceNow Stand Now?
- At a volume of 960,668, the NOW price dropped -1.67% to $ 505.82.
- RSI indicators indicate that the underlying stock may be approaching oversold.
- Subsequent earnings are expected to be released within 7 days.
What Service Experts Say Today:
- Citigroup decided to keep their ServiceNow Purchase rating, which is currently at a price target of $ 623.
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 the markets closely.