Spotlight on ServiceNow: Analyzing the Surge in Options Activity

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

Looking at options history for ServiceNow NOW we detected 33 trades.

If we consider the specifics of each trade, it is accurate to state that 24% of the investors opened trades with bullish expectations and 45% with bearish.

From the overall spotted trades, 10 are puts, for a total amount of $1,471,969 and 23, calls, for a total amount of $1,216,625.

Predicted Price Range

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $440.0 to $850.0 for ServiceNow during the past quarter.

Volume & Open Interest Development

In today's trading context, the average open interest for options of ServiceNow stands at 153.14, with a total volume reaching 506.00. The accompanying chart delineates the progression of both call and put option volume and open interest for high-value trades in ServiceNow, situated within the strike price corridor from $440.0 to $850.0, throughout the last 30 days.

ServiceNow Call and Put Volume: 30-Day Overview

Noteworthy Options Activity:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Ask Bid Price Strike Price Total Trade Price Open Interest Volume
NOW PUT TRADE BULLISH 01/17/25 $79.3 $75.2 $75.5 $740.00 $755.0K 168 15
NOW PUT TRADE BULLISH 08/16/24 $35.3 $35.0 $35.0 $710.00 $350.0K 74 0
NOW PUT TRADE NEUTRAL 01/17/25 $78.0 $72.3 $74.69 $740.00 $112.0K 168 0
NOW CALL TRADE BULLISH 09/20/24 $50.7 $50.7 $50.7 $720.00 $101.4K 67 62
NOW CALL SWEEP NEUTRAL 09/20/24 $49.8 $48.4 $48.52 $720.00 $96.8K 67 20

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.

In light of the recent options history for ServiceNow, it's now appropriate to focus on the company itself. We aim to explore its current performance.

ServiceNow's Current Market Status

  • With a volume of 499,787, the price of NOW is up 0.41% at $712.05.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 43 days.

Options trading presents higher risks and potential rewards. Astute traders manage these risks by continually educating themselves, adapting their strategies, monitoring multiple indicators, and keeping a close eye on market movements. Stay informed about the latest ServiceNow options trades with real-time alerts from Benzinga Pro.

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Posted In: OptionsMarketsBZI-UOA
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