A whale with a lot of money to spend has taken a noticeably bullish stance on ServiceNow.
Looking at options history for ServiceNow (NYSE:NOW) we detected 14 strange trades.
If we consider the specifics of each trade, it is accurate to state that 57% of the investors opened trades with bullish expectations and 42% with bearish.
From the overall spotted trades, 10 are puts, for a total amount of $566,987 and 4, calls, for a total amount of $133,901.
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 $200.0 to $500.0 for ServiceNow over the last 3 months.
Volume & Open Interest Development
In terms of liquidity and interest, the mean open interest for ServiceNow options trades today is 188.3 with a total volume of 814.00.
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 $200.0 to $500.0 over the last 30 days.
ServiceNow Option Volume And Open Interest Over Last 30 Days
Biggest Options Spotted:
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|
| NOW | PUT | TRADE | BULLISH | 09/16/22 | $350.00 | $150.0K | 736 | 100 |
| NOW | PUT | SWEEP | BULLISH | 11/18/22 | $290.00 | $71.4K | 3 | 146 |
| NOW | PUT | SWEEP | BULLISH | 11/18/22 | $290.00 | $57.6K | 3 | 76 |
| NOW | PUT | TRADE | BEARISH | 01/19/24 | $500.00 | $57.5K | 47 | 5 |
| NOW | PUT | TRADE | BEARISH | 07/15/22 | $400.00 | $52.5K | 758 | 4 |
Where Is ServiceNow Standing Right Now?
- With a volume of 435,705, the price of NOW is up 2.4% at $455.44.
- RSI indicators hint that the underlying stock may be approaching overbought.
- Next earnings are expected to be released in 42 days.
What The Experts Say On ServiceNow:
- Piper Sandler has decided to maintain their Overweight rating on ServiceNow, which currently sits at a price target of $600.
- Morgan Stanley has decided to maintain their Overweight rating on ServiceNow, which currently sits at a price target of $594.
- Wells Fargo downgraded its action to Overweight with a price target of $600
- Mizuho has decided to maintain their Buy rating on ServiceNow, which currently sits at a price target of $550.
- Jefferies has decided to maintain their Buy rating on ServiceNow, which currently sits at a price target of $550.
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.
