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 20 odd trades.
If we consider the details of each trade, it is accurate to say that 35% of investors opened trades with bullish expectations and 65% with bearish ones.
From the overall spotted trades, 3 were puts, for a total value of $119,099 and 17, calls, for a total value of $1,291,006.
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 $450.0 to $560.0 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 387.92 with a total volume of 1,497.00.
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 $450.0 to $560.0 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
CALL
TRADE
NEUTRAL
09/16/22
$560.00
$405.4K
639
12
NOW
CALL
TRADE
BULLISH
09/16/22
$550.00
$125.6K
89
121
NOW
CALL
BROOM
BULLISH
02/17/23
$530.00
$122.0K
3
20
NOW
CALL
TRADE
BEARISH
09/16/22
$500.00
$104.4K
269
4
NOW
CALL
TRADE
BULLISH
08/19/22
$520.00
$65.6K
604
107
Where Does ServiceNow Stand Today?
- On volume of 909,130, NOW’s price rose 5.41% to $513.81.
- RSI indicators indicate that the underlying stock may be overbought.
- The next earnings are expected to be released within 77 days.
What Experts Are Saying About Today’s Service:
- Barclays decided to maintain its Overweight rating on ServiceNow, which currently has a price target of $560.
- Wells Fargo decided to maintain their Overweight rating on ServiceNow, which currently has a price target of $550.
- JMP Securities decided to maintain their Market Outperform rating on ServiceNow, which currently has a price target of $553.
- UBS decided to maintain their Buy rating on ServiceNow, which currently has a price target of $540.
- BMO Capital decided to maintain their Outperform rating on ServiceNow, which currently has a price target of $520.
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.