Unpacking the Latest Options Trading Trends in ServiceNow
Portfolio Pulse from Benzinga Insights
Deep-pocketed investors have adopted a bearish approach towards ServiceNow (NYSE:NOW), as revealed by Benzinga's options scanner. The scanner highlighted 17 extraordinary options activities, with 41% of the sentiment being bearish. The price of NOW is currently up 2.19% at $773.05, but RSI indicators suggest it may be approaching overbought territory. Analysts have mixed opinions, with price targets ranging from $640 to $920.
July 23, 2024 | 2:32 pm
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ServiceNow (NYSE:NOW) has seen significant bearish options activity, with 41% of the sentiment being bearish. The stock is currently up 2.19% at $773.05, but RSI indicators suggest it may be overbought. Analysts have mixed opinions, with price targets ranging from $640 to $920.
The significant bearish sentiment in options trading, combined with the stock's current overbought status, suggests a potential short-term decline. Mixed analyst ratings further contribute to uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100