Decoding ServiceNow's Options Activity: What's the Big Picture?
Portfolio Pulse from Benzinga Insights
ServiceNow (NYSE:NOW) has seen significant options activity indicating a bearish stance by big-money investors, with a split sentiment of 22% bullish and 77% bearish. The activity includes 18 uncommon trades, with puts totaling $143,000 and calls totaling $786,400. The options suggest a price window of $400.0 to $770.0 for NOW. The largest trades observed show a mix of bearish and bullish sentiments with varying strike prices and total trade prices. ServiceNow's current trading volume is 73,731, with a price decrease of -1.03%, now at $748.04. An analyst from Stifel has downgraded the stock to Buy with a target price of $820.
March 19, 2024 | 2:16 pm
News sentiment analysis
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ServiceNow has seen a bearish sentiment from big-money investors through options activity, with a current price decrease and a downgrade by Stifel to Buy with a target price of $820.
The bearish sentiment from significant options activity, combined with the current price decrease and the downgrade by Stifel, suggests a short-term negative impact on ServiceNow's stock price. The detailed options activity, including the split between puts and calls and the specific large trades, indicates a strong investor focus on NOW, making this news highly relevant and important for investors. The downgrade by Stifel further supports the bearish outlook.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100