Moderately bullish activity in ServiceNow with shares up 6.82%

Moderately bullish activity in ServiceNow (NOW), with shares up $7.76, or 6.82%, near $121.62. Options volume running well above average with 92k contracts traded and calls leading puts for a put/call ratio of 0.34, compared to a typical level near 1.06. Implied volatility (IV30) is higher by 1.4 points near 50.35,in the top quartile of the past year, suggesting an expected daily move of $3.86. Put-call skew steepened, indicating increased demand for downside protection.