A Closer Look at ServiceNow's Options Market Dynamics
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have shown a bearish sentiment towards ServiceNow (NYSE:NOW), with options activity indicating a divided mood: 40% bullish and 60% bearish. The options market dynamics reveal significant trades with expectations of price movements between $600 and $1020 over the next three months. ServiceNow's current trading volume is 328,992, with a price decrease of -1.97%, standing at $738.0. Analysts maintain positive ratings, with an average target price of $877.0.
February 21, 2024 | 5:01 pm
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ServiceNow's options market shows a bearish trend among investors, with a significant portion expecting price movements between $600 and $1020. The stock is currently down by -1.97% at $738.0, but analysts maintain a positive outlook with an average target price of $877.0.
The bearish sentiment in the options market, combined with the current price dip, suggests short-term volatility. However, the strong analyst ratings and target prices indicate a positive long-term outlook, balancing the short-term impact.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100