Bearish flow noted in ServiceNow (NOW) with 5,020 puts trading, or 1.5x expected. Most active are 8/29 weekly 840 puts and Dec-25 860 puts, with total volume in those strikes near 1,100 contracts. The Put/Call Ratio is 1.74, while ATM IV is up nearly 2 points on the day. Earnings are expected on October 29th.
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