ServiceNow's Options: A Look at What the Big Money is Thinking

ServiceNow, Inc. +0.37%

ServiceNow, Inc.




Financial giants have made a conspicuous bearish move on ServiceNow. Our analysis of options history for ServiceNow (NYSE:NOW) revealed 32 unusual trades.

Delving into the details, we found 25% of traders were bullish, while 75% showed bearish tendencies. Out of all the trades we spotted, 15 were puts, with a value of $1,329,613, and 17 were calls, valued at $1,094,007.

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 $500.0 to $920.0 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 151.67 with a total volume of 1,539.00.

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 $500.0 to $920.0 over the last 30 days.

ServiceNow Call and Put Volume: 30-Day Overview

Options Call Chart

Biggest Options Spotted:

Symbol PUT/CALL Trade Type Sentiment Exp. Date Strike Price Total Trade Price Open Interest Volume
NOW PUT SWEEP BULLISH 06/20/25 $600.00 $405.8K 5 21
NOW CALL TRADE BEARISH 05/17/24 $920.00 $217.1K 15 183
NOW PUT TRADE BEARISH 02/02/24 $780.00 $166.1K 121 233
NOW PUT TRADE BULLISH 01/16/26 $680.00 $141.2K 60 20
NOW CALL TRADE BULLISH 03/15/24 $750.00 $138.7K 502 25

About ServiceNow

ServiceNow Inc provides software solutions to structure and automate various business processes via a SaaS delivery model. The company primarily focuses on the IT function for enterprise customers. ServiceNow began with IT service management, expanded within the IT function, and more recently directed its workflow automation logic to functional areas beyond IT, notably customer service, HR service delivery, and security operations. ServiceNow also offers an application development platform as a service.

Having examined the options trading patterns of ServiceNow, our attention now turns directly to the company. This shift allows us to delve into its present market position and performance

Current Position of ServiceNow

  • With a volume of 417,771, the price of NOW is down -0.22% at $785.5.
  • RSI indicators hint that the underlying stock may be overbought.
  • Next earnings are expected to be released in 85 days.

What Analysts Are Saying About ServiceNow

Over the past month, 5 industry analysts have shared their insights on this stock, proposing an average target price of $832.0.

  • An analyst from Barclays has decided to maintain their Overweight rating on ServiceNow, which currently sits at a price target of $870.
  • Consistent in their evaluation, an analyst from Oppenheimer keeps a Outperform rating on ServiceNow with a target price of $800.
  • Maintaining their stance, an analyst from Barclays continues to hold a Overweight rating for ServiceNow, targeting a price of $890.
  • Consistent in their evaluation, an analyst from Truist Securities keeps a Hold rating on ServiceNow with a target price of $700.
  • Reflecting concerns, an analyst from Needham lowers its rating to Buy with a new price target of $900.

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.

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