What the Options Market Tells Us About ServiceNow
Portfolio Pulse from Benzinga Insights
Financial analysts have observed a bullish trend in the options market for ServiceNow (NYSE:NOW), with 61% of traders showing bullish sentiment. Analysis of unusual trades revealed a preference for calls over puts, indicating expectations for ServiceNow's stock to rise. The options market is focusing on a price band between $780.0 and $840.0. ServiceNow's current market status shows a slight increase in stock price to $774.05, with neutral RSI indicators and earnings expected in 58 days.
February 26, 2024 | 3:01 pm
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ServiceNow shows a bullish trend in the options market, with a significant number of traders expecting the stock to rise, focusing on a price band between $780.0 and $840.0. The stock is currently priced at $774.05, with neutral RSI indicators and upcoming earnings in 58 days.
The bullish sentiment in the options market, combined with the current stock price nearing the lower end of the targeted price band, suggests a positive short-term outlook for ServiceNow. The neutral RSI indicators imply that the stock is not currently overbought or oversold, providing a stable foundation for potential growth. The anticipation of upcoming earnings could further influence stock price movements.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100