Mixed options sentiment in ServiceNow (NOW), with shares down 90c near $100.94. Options volume running well above average with 122k contracts traded and calls leading puts for a put/call ratio of 0.45, compared to a typical level near 0.43. Implied volatility (IV30) dropped 0.8 near 61.6, in the highest 10% of observations over the past year, suggesting an expected daily move of $3.92. Put-call skew steepened, indicating increased demand for downside protection.
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