Option traders moderately bearish in ServiceNow with shares down 1.35%

Option traders moderately bearish in ServiceNow (NOW), with shares down $1.41 near $103.24. Options volume roughly in line with average with 49k contracts traded and calls leading puts for a put/call ratio of 0.82, compared to a typical level near 0.94. Implied volatility (IV30) is higher by 2.3 points near 57.09, in the highest 10% of observations over the past year, suggesting an expected daily move of $3.71. Put-call skew steepened, indicating increased demand for downside protection.