This Is What Whales Are Betting On ServiceNow

This Is What Whales Are Betting On ServiceNow

 

A whale with a lot of money to spend has taken a noticeably bearish stance on ServiceNow.

Looking at options history for ServiceNow NOW we detected 20 strange trades.

If we consider the specifics of each trade, it is accurate to state that 35% of the investors opened trades with bullish expectations and 65% with bearish.

From the overall spotted trades, 3 are puts, for a total amount of $119,099 and 17, calls, for a total amount of $1,291,006.

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 $450.0 to $560.0 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 387.92 with a total volume of 1,497.00.

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 $450.0 to $560.0 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 TRADE NEUTRAL 09/16/22 $560.00 $405.4K 639 12
NOW CALL TRADE BULLISH 09/16/22 $550.00 $125.6K 89 121
NOW CALL SWEEP BULLISH 02/17/23 $530.00 $122.0K 3 20
NOW CALL TRADE BEARISH 09/16/22 $500.00 $104.4K 269 4
NOW CALL TRADE BULLISH 08/19/22 $520.00 $65.6K 604 107

Where Is ServiceNow Standing Right Now?

  • With a volume of 909,130, the price of NOW is up 5.41% at $513.81.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 77 days.

What The Experts Say On ServiceNow:

  • Barclays has decided to maintain their Overweight rating on ServiceNow, which currently sits at a price target of $560.
  • Wells Fargo has decided to maintain their Overweight rating on ServiceNow, which currently sits at a price target of $550.
  • JMP Securities has decided to maintain their Market Outperform rating on ServiceNow, which currently sits at a price target of $553.
  • UBS has decided to maintain their Buy rating on ServiceNow, which currently sits at a price target of $540.
  • BMO Capital has decided to maintain their Outperform rating on ServiceNow, which currently sits at a price target of $520.

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