Call Spread on NOW on 6/15/2020

ServiceNow, Inc. (NOW) provides enterprise cloud computing solutions that defines, structures, consolidates, manages, and automates services for enterprises worldwide.

The company offers information technology (IT) service management applications; and digital workflow products for customer service, human resources, security operations, integrated risk management, and other enterprise departments.It operates the Now platform that offers workflow automation, electronic service catalogs and portals, configuration management systems, data benchmarking, performance analytics, encryption, and collaboration and development tools.

The company also provides IT service management product suite for enterprise's employees, customers, and partners; IT operations management product that connects a customer's physical and cloud-based IT infrastructure with applications and platforms; IT Asset Management product to automate IT asset lifecycles with workflows; IT business management product suite to manage IT priorities; and enterprise development operations product for developers' toolchain.

In addition, it offers customer service management product for customer service cases and requests; human resources service delivery product; security operations product for security operations management requirements of third-party; governance, risk, and compliance product to create policies and controls; and field service management application.

Further, the company provides professional, training, and customer support services; and certification programs. It serves government, financial services, healthcare, telecommunications, manufacturing, IT services, technology, oil and gas, education, and consumer products.

The company sells its products through direct sales team and resale partners. The company was formerly known as Service-now.com and changed its name to ServiceNow, Inc. in May 2012.

The technology sector has been very strong recently and ServiceNow has outperformed many of those in the sector. Over the past few months, ServiceNow has performed ~2% higher year-to-date. This momentum and solid performance should continue to push shares higher. 

We will be trading July 2nd Call Spread

Last Trade: $385.13

Trading Range: $213.99 to $405.53

Trade Buy 1 July $387.50 Call at $17.50 Sell 1 July $415.00 Call at $11.39 For a net debit of $6.11 Profit/Loss Analysis Breakeven at $393.61 Maximum profit is $2,139.00 at strike of $415.00 Maximum loss is ($611.00) at strike of $387.00 Closing Summary Sold 1 July $387.50 Call at $29.70 Bought 1 July $415.00 Call at $4.65

Position closed on 7/2/2020 at price of $25.05 with a 309.98% gain in 17 days.

Updates

7/2/2020 9:45:25 AM

NOW Call Spread closed

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