What Are Whales Doing With ServiceNow

Someone with a lot of money to spend has taken a bearish stance on ServiceNow NOW.

And retail traders should know.

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

Whether this is an institution or just a wealthy individual, 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 this whale just did?

Today, Benzinga's options scanner spotted 32 uncommon options trades for ServiceNow.

This isn't normal.

The overall sentiment of these big-money traders is split between 43% bullish and 56%, bearish.

Out of all of the special options we uncovered, 2 are puts, for a total amount of $69,550, and 30 are calls, for a total amount of $4,996,950.

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 $380.0 to $860.0 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 482.8 with a total volume of 17,026.00.

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 $380.0 to $860.0 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 CALL SWEEP BEARISH 01/20/23 $520.00 $608.5K 1.6K 553
NOW CALL SWEEP BULLISH 01/20/23 $520.00 $579.6K 1.6K 176
NOW CALL SWEEP BULLISH 01/20/23 $520.00 $562.5K 1.6K 64
NOW CALL SWEEP BEARISH 01/20/23 $520.00 $448.0K 1.6K 805
NOW CALL SWEEP BEARISH 01/20/23 $520.00 $327.6K 1.6K 371

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
NOW CALL SWEEP BEARISH 01/20/23 $520.00 $608.5K 1.6K 553
NOW CALL SWEEP BULLISH 01/20/23 $520.00 $579.6K 1.6K 176
NOW CALL SWEEP BULLISH 01/20/23 $520.00 $562.5K 1.6K 64
NOW CALL SWEEP BEARISH 01/20/23 $520.00 $448.0K 1.6K 805
NOW CALL SWEEP BEARISH 01/20/23 $520.00 $327.6K 1.6K 371

Where Is ServiceNow Standing Right Now?

  • With a volume of 793,333, the price of NOW is down -0.04% at $477.61.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 27 days.

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.

Posted In: BZI-UOAOptionsMarkets

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