Looking At ServiceNow's Recent Unusual Options Activity
Portfolio Pulse from Benzinga Insights
ServiceNow (NYSE:NOW) has seen unusual options activity, with a majority of investors taking a bearish stance. The trades include 9 puts for a total of $402,685 and 6 calls for a total of $212,824. Whales have been targeting a price range from $450.0 to $610.0 for ServiceNow over the last 3 months. The current price of NOW is down -0.81% at $550.42. Several experts have downgraded their ratings but maintained high price targets.
August 08, 2023 | 6:30 pm
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ServiceNow has seen unusual options activity with a bearish bias. Despite the current price drop, experts maintain high price targets.
The unusual options activity, with a majority being bearish, indicates that investors are expecting the price of ServiceNow to decrease. However, experts have maintained high price targets, suggesting they believe the stock has potential for growth. This contrast could lead to volatility in the short term.
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IMPORTANCE 80
RELEVANCE 100