BullTrader

Bernstein out with a note defending ServiceNow $NOW: "Bears worry ServiceNow is at risk from AI Agents directly replacing its core business process automation and AI Agent platform use case. Claude Managed Agents may appear to make this even more possible, offering the platform to replace ServiceNow’s underlying 'rails' on which AI Agents are built. Or if an AI Agent is not ideal because the process needs to be repeatable and predictable, bears say Claude Code could easily write traditional programmatic software to handle the automation along with a nice user interface for user engagement. Plus, bears believe analytics and management of ServiceNow’s system-of-record data can be directly queried or modified through Claude Cowork, or other AI copilot. In reality, ServiceNow is an enviable 'Switzerland' AI Agent platform. First, most ServiceNow business processes are not naturally replaced by Agents, as they require predictability, auditability, security, and efficiency. In addition, coding copilots are not a threat in writing programmatic code, as the real value is in the underlying rails where the code runs, for example CMDB. Finally, ServiceNow is better positioned as an Enterprise AI Agent platform. We believe large enterprise buyers will likely balk at LLMs being a standardized Agent platform provider for three reasons: to avoid LLM lock-in and maintain flexibility to utilize the best model matched to the task, the desire for fine-grained control of performance, cost, and security, and the lack of foundational process rails below the Agent layer, such as CMDB and ontology. ServiceNow remains in a very strong 'Switzerland' position, with its CMDB and process rails a foundational requirement to execute both programmatic business processes and the AI Agentic layer."

Let this SINK in... CEO Bill McDermott bought his company stock, $NOW, at $104.60 on Feb 27. Then he went on CNBC on Mar 13 and said that you would never be able to buy it cheaper. Stock now $83

$SPY Levels & Data: 4/10 Delta, Gamma Exposure, Darkpool levels (orange) Field Goal Ranges: (679-683) 679 largest +gex on the board for today 🐂will want to hold >, 🐻will want to lose it. Bulls can get challenged in +gex cluster above Break 🔼or🔽those ranges & next are mapped

Short dated $PLTR call buyers for $1.8M on the 155 call strike for 5/1exp

Some $QQQ puts; 6DTE for $3.4 mil