Financial giants have made a conspicuous bearish move on ServiceNow. Our analysis of options history for ServiceNow (NYSE:NOW) revealed 25 unusual trades.

Delving into the details, we found 36% of traders were bullish, while 52% showed bearish tendencies. Out of all the trades we spotted, 20 were puts, with a value of $771,984, and 5 were calls, valued at $353,470.

Projected Price Targets

Taking into account the Volume and Open Interest on these contracts, it appears that whales have been targeting a price range from $400.0 to $1220.0 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 110.48 with a total volume of 236.00.

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 $400.0 to $1220.0 over the last 30 days.

ServiceNow Call and Put Volume: 30-Day Overview

Biggest Options Spotted:

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.

Having examined the options trading patterns of ServiceNow, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of ServiceNow

• With a volume of 252,212, the price of NOW is down -5.78% at $679.97.
• RSI indicators hint that the underlying stock may be approaching oversold.
• Next earnings are expected to be released in 16 days.

What Analysts Are Saying About ServiceNow

A total of 5 professional analysts have given their take on this stock in the last 30 days, setting an average price target of $1072.0.

Unusual Options Activity Detected: Smart Money on the Move

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.