ServiceNow Unusual Options Activity – ServiceNow (NYSE:NOW)

A whale with lots of money to spend has taken an apparently bullish stance service now,

Viewing History Options for ServiceNow Now We unearthed 12 of the weirdest trades.

If we consider the specifics of each trade, it would be fair to say that 50% of the investors opened the trade with bullish expectations and 50% with bearish ones.

From the total spotted trades, there are 3 puts for a total amount of $172,380 and 9 calls for a total amount of $547,371.

What is a price target?

Considering the volume and open interest on these contracts, it appears that the whales are targeting a price range of $360.0 to $440.0 for ServiceNow over the past 3 months.

Volume and Open Interest Development

A practical way to do due diligence on a stock is by looking at the volume and open interest.

This data can help you track the liquidity and interest for ServiceNow’s options for a given strike price.

Below, we can see the evolution of call and put volumes and open interest, respectively, for all of ServiceNow’s whale activity within the $360.0 to $440.0 strike price range over the past 30 days.

ServiceNow Option Volume and Open Interest over the last 30 days

Largest options seen:

Sign put/call business type Price Exp. date strike price net trade value open interest Volume
Now Call sweep recession 01/20/23 $400.00 $170.5K 1.2 thousand 299
Now Call sweep recession 01/20/23 $400.00 $77.0K 1.2 thousand 560
Now Call sweep fast 01/20/23 $400.00 $73.0K 1.2 thousand 434
Now Keep sweep recession 01/13/23 $440.00 $66.6K 0 111
Now Keep sweep fast 01/13/23 $440.00 $58.8K 0 72

Where does Service Now stand now?

  • With a volume of 1,297,507, the price is now up 5.31% to $386.0.
  • The RSI indicator is indicating that the underlying stock is currently trading in a neutral position between overbought and oversold.
  • The next earnings release is expected in 16 days.

What the experts on ServiceNow say:

  • Morgan Stanley has decided to maintain its Overweight rating on ServiceNow, currently with a price target of $612.
  • Piper Sandler has decided to maintain its Overweight rating on ServiceNow, which currently sits at a price target of $500.
  • Truest Securities downgraded the stock to hold with a price target of $420.

Options are a riskier asset than stock trading, but they have higher profit potential. Serious options traders manage this risk by educating themselves daily, scalping 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 thanks to ServiceNow, benzinga pro Provides you with real-time options trade alerts.

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