Investors with a lot of money to spend have taken a bearish stance on ServiceNow (NYSE:NOW).

And retail traders should know.

We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.

Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with NOW, it often means somebody knows something is about to happen.

So how do we know what these investors just did?

Today, Benzinga's options scanner spotted 16 uncommon options trades for ServiceNow.

This isn't normal.

The overall sentiment of these big-money traders is split between 31% bullish and 56%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $170,970, and 14 are calls, for a total amount of $2,024,931.

Predicted Price Range

Based on the trading activity, it appears that the significant investors are aiming for a price territory stretching from $730.0 to $860.0 for ServiceNow over the recent three months.

Analyzing Volume & Open Interest

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 $730.0 to $860.0 in the last 30 days.

ServiceNow Option Activity Analysis: Last 30 Days

Significant Options Trades Detected:

About ServiceNow

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.

Current Position of ServiceNow

• With a volume of 249,750, the price of NOW is up 1.23% at $829.13.
• RSI indicators hint that the underlying stock may be approaching overbought.
• Next earnings are expected to be released in 69 days.

What The Experts Say On ServiceNow

5 market experts have recently issued ratings for this stock, with a consensus target price of $876.2.

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.