Get all your news in one place.
100’s of premium titles.
One app.
Start reading
Benzinga
Benzinga
Business
Benzinga Insights

This Is What Whales Are Betting On ServiceNow

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

Looking at options history for ServiceNow (NYSE:NOW) we detected 13 strange trades.

If we consider the specifics of each trade, it is accurate to state that 53% of the investors opened trades with bullish expectations and 46% with bearish.

From the overall spotted trades, 2 are puts, for a total amount of $71,454 and 11, calls, for a total amount of $886,900.

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 $355.0 to $400.0 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 $355.0 to $400.0 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 TRADE BULLISH 01/20/23 $400.00 $262.8K 471 138
NOW CALL SWEEP BULLISH 10/28/22 $385.00 $150.0K 165 348
NOW CALL TRADE BEARISH 12/02/22 $380.00 $83.4K 12 30
NOW CALL SWEEP BEARISH 12/02/22 $380.00 $82.8K 12 60
NOW CALL TRADE BULLISH 05/19/23 $360.00 $61.0K 0 10

Where Is ServiceNow Standing Right Now?

  • With a volume of 1,236,094, the price of NOW is up 1.41% at $381.97.
  • RSI indicators hint that the underlying stock may be approaching overbought.
  • Next earnings are expected to be released in 0 days.

What The Experts Say On ServiceNow:

  • Mizuho has decided to maintain their Buy rating on ServiceNow, which currently sits at a price target of $480.
  • Morgan Stanley has decided to maintain their Overweight 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 $430.
  • RBC Capital has decided to maintain their Outperform rating on ServiceNow, which currently sits at a price target of $500.
  • Cowen & Co. has decided to maintain their Outperform rating on ServiceNow, which currently sits at 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.

Sign up to read this article
Read news from 100’s of titles, curated specifically for you.
Already a member? Sign in here
Related Stories
Top stories on inkl right now
Our Picks
Fourteen days free
Download the app
One app. One membership.
100+ trusted global sources.