Shares of ServiceNow Inc. (NOW) are down 4.00 to 62.62 today. NOW is in the middle of the 52-week range.
Today paper traded 3962 NOW Mar 65/Apr 60 puts for .60.? The ADV is 1480 contracts.? The OI is 5120 and 153 contracts.
The volume went up in two blocks.? The front month puts are closing a long position with and rolling into a new, lower strike.? The puts could be protective or speculative in nature but the short duration calls into question the protection choice.? Either way the trader caught a break having NOW dump on expiration day.? The Apr IV is taking a little jump today, up 2.7 points on the move.
30-day implied volatility is 43%.? ?10-day implied volatility is 28%.? 30 day implied volatility is trading above the 10 Day Historical volatility.
ServiceNow, Inc. is a provider of cloud-based services to automate enterprise information technology (IT) operations.?