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Financial giants have made a conspicuous bullish move on ServiceNow. Our analysis of options history for ServiceNow (NYSE:NOW) revealed 12 unusual trades.
Delving into the details, we found 66% of traders were bullish, while 33% showed bearish tendencies. Out of all the trades we spotted, 8 were puts, with a value of $416,626, and 4 were calls, valued at $181,400.
Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $600.0 to $1180.0 for ServiceNow over the last 3 months.
In terms of liquidity and interest, the mean open interest for ServiceNow options trades today is 285.43 with a total volume of 299.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for ServiceNow's big money trades within a strike price range of $600.0 to $1180.0 over the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NOW | PUT | SWEEP | BULLISH | 04/12/24 | $785.00 | $83.5K | 38 | 30 |
| NOW | PUT | SWEEP | BULLISH | 05/17/24 | $770.00 | $60.6K | 153 | 63 |
| NOW | PUT | TRADE | BULLISH | 05/17/24 | $770.00 | $52.3K | 153 | 12 |
| NOW | PUT | TRADE | BULLISH | 05/17/24 | $770.00 | $51.9K | 153 | 87 |
| NOW | PUT | TRADE | BULLISH | 05/17/24 | $770.00 | $51.8K | 153 | 75 |
ServiceNow Inc provides software solutions to structure and automate various business processes via a SaaS delivery model. The company primarily focuses on the IT function for enterprise customers. ServiceNow began with IT service management, expanded within the IT function, and more recently directed its workflow automation logic to functional areas beyond IT, notably customer service, HR service delivery, and security operations. ServiceNow also offers an application development platform as a service.
After a thorough review of the options trading surrounding ServiceNow, we move to examine the company in more detail. This includes an assessment of its current market status and performance.
A total of 3 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $880.0.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for ServiceNow with Benzinga Pro for real-time alerts.
Posted In: NOW
