Looking At ServiceNow's Recent Whale Trades

Looking At ServiceNow's Recent Whale Trades

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 18 strange trades.

If we consider the specifics of each trade, it is accurate to state that 22% of the investors opened trades with bullish expectations and 77% with bearish.

From the overall spotted trades, 11 are puts, for a total amount of $382,256 and 7, calls, for a total amount of $302,578.

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 $300.0 to $510.0 for ServiceNow over the last 3 months.

Volume & Open Interest Development

Looking at the volume and open interest is an insightful way to conduct due diligence on a stock.

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 activity within a strike price range from $300.0 to $510.0 in 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 $510.00 $64.0K 81 25
NOW CALL TRADE BEARISH 01/20/23 $510.00 $58.8K 81 25
NOW CALL SWEEP BULLISH 01/19/24 $510.00 $58.6K 15 0
NOW PUT TRADE BULLISH 02/17/23 $420.00 $56.0K 12 13
NOW PUT SWEEP BEARISH 01/20/23 $300.00 $49.0K 255 1.0K

Where Is ServiceNow Standing Right Now?

  • With a volume of 539,911, the price of NOW is down -1.17% at $439.47.
  • RSI indicators hint that the underlying stock is currently neutral between overbought and oversold.
  • Next earnings are expected to be released in 58 days.

What The Experts Say On ServiceNow:

  • Guggenheim downgraded its action to Neutral with a price target of $510

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