ServiceNow Options Trading: A Deep Dive into Market Sentiment

High-rolling investors have positioned themselves bullish on ServiceNow NOW, and it's important for retail traders to take note. \This activity came to our attention today through Benzinga's tracking of publicly available options data. The identities of these investors are uncertain, but such a significant move in NOW often signals that someone has privileged information.

Today, Benzinga's options scanner spotted 15 options trades for ServiceNow. This is not a typical pattern.

The sentiment among these major traders is split, with 53% bullish and 26% bearish. Among all the options we identified, there was one put, amounting to $43,510, and 14 calls, totaling $2,227,195.

Projected Price Targets

Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $400.0 to $1460.0 for ServiceNow during the past quarter.

Analyzing Volume & Open Interest

Examining the volume and open interest provides crucial insights into stock research. This information is key in gauging liquidity and interest levels for ServiceNow's options at certain strike prices. Below, we present a snapshot of the trends in volume and open interest for calls and puts across ServiceNow's significant trades, within a strike price range of $400.0 to $1460.0, over the past month.

ServiceNow Call and Put Volume: 30-Day Overview

Largest Options Trades Observed:

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.

Where Is ServiceNow Standing Right Now?

• With a volume of 728,797, the price of NOW is up 0.63% at $1041.7.
• RSI indicators hint that the underlying stock may be overbought.
• Next earnings are expected to be released in 68 days.

What The Experts Say On ServiceNow

In the last month, 5 experts released ratings on this stock with an average target price of $1049.0.

Turn $1000 into $1270 in just 20 days?

20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * An analyst from Morgan Stanley has decided to maintain their Equal-Weight rating on ServiceNow, which currently sits at a price target of $950. * An analyst from Needham has revised its rating downward to Buy, adjusting the price target to $1050. * An analyst from Canaccord Genuity has decided to maintain their Buy rating on ServiceNow, which currently sits at a price target of $1075. * Maintaining their stance, an analyst from JP Morgan continues to hold a Overweight rating for ServiceNow, targeting a price of $1020. * An analyst from Wells Fargo has decided to maintain their Overweight rating on ServiceNow, which currently sits at a price target of $1150.

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.