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This Is What Whales Are Betting On ServiceNow

Author: Benzinga Insights | April 19, 2024 04:45pm

Whales with a lot of money to spend have taken a noticeably bearish stance on ServiceNow.

Looking at options history for ServiceNow (NYSE:NOW) we detected 56 trades.

If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 64% with bearish.

From the overall spotted trades, 25 are puts, for a total amount of $1,473,153 and 31, calls, for a total amount of $2,469,435.

What's The Price Target?

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $300.0 to $1040.0 for ServiceNow over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is a powerful move while trading options. This data can help you track the liquidity and interest for ServiceNow's options for a given strike price. Below, we can observe the evolution of the volume and open interest of calls and puts, respectively, for all of ServiceNow's whale trades within a strike price range from $300.0 to $1040.0 in the last 30 days.

ServiceNow Option Volume And Open Interest Over Last 30 Days

Options Call Chart

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
NOW CALL SWEEP BEARISH 01/17/25 $108.8 $106.7 $108.8 $700.00 $598.4K 142 56
NOW PUT TRADE BEARISH 01/16/26 $37.0 $31.7 $36.5 $500.00 $310.2K 35 85
NOW CALL TRADE BULLISH 05/10/24 $39.1 $36.7 $39.1 $700.00 $293.2K 9 75
NOW CALL SWEEP BULLISH 05/17/24 $32.8 $32.1 $32.1 $720.00 $227.9K 75 2
NOW CALL TRADE BULLISH 08/16/24 $33.0 $31.9 $33.0 $800.00 $132.0K 131 0

About ServiceNow

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.

Current Position of ServiceNow

  • Trading volume stands at 1,536,830, with NOW's price down by -2.39%, positioned at $713.91.
  • RSI indicators show the stock to be is currently neutral between overbought and oversold.
  • Earnings announcement expected in 5 days.

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 options trades for ServiceNow, Benzinga Pro gives you real-time options trades alerts.

Posted In: NOW

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