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NOW

ServiceNow, Inc.Close $95.04EOD only
Max Pain
$102.00
Next expiry Jun 26, 2026
Expected Move
±$6.05
6.4% from close
Price Gap
+6.96
Distance to max pain
IV Rank
100
High premium
P/C OI
0.77
Slightly call-heavy
Consensus
6.0/10
Consensus signal
Published snapshot: Jun 18, 2026 close
End-of-day snapshot

This page reflects NOW options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
Jun 18, 2026 close
NOW Directional Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Outlook

Cautiously bullish, low VIX, positive dealer delta, GEX/flow aligned, tempered by spot 8.6% below MP, high vol. Upside toward $100-104, gamma flip at $75 caps downside. Event-specific around 6/18 expiry.

Confidence:
7 / 10
Base 5 +2 GEX/flow aligned -1 spot far from MP +1 VIX low = net 7.
Supports: Low VIX (16.4), long delta (+45.8M), GEX/flow aligned, within EM guardrails.
Conflicts: Spot below MP -8.6%, high vol, mixed flow, short gamma (-$20.6M).
📉Dealer short gamma (-$20.6M) may amplify moves.
🎯Spot below max pain $104; potential pin at expiry.
📈Low VIX and positive DEX support bullish delta.

Regime Classification

Vol Regime
High
IV high vs VIX (16.4).
Gamma Regime
Trending
Negative GEX -$20.6M, flip ~$75.
Flow Regime
Mixed
Mixed; put OI concentrated below spot.
Spot vs Max Pain
Below
Spot 8.6% below MP $104, downside pin risk.
Thesis duration: Event-specific — Near 6/18 expiry, high vol, gamma flip.

Price Range Forecast

Next 1 week
$88.99$101.09
Upside to $101, support $88.99.
Next 2 weeks
$86.94$103.14
Breakout above $103 likely if vol subsides.

Key Levels

Max pain pins: $104 (2026-06-18); $102 (2026-06-26); $105 (2026-07-02)
EM guardrails: 1w $88.99/$101.09
Support: $86.94
Resistance: $103.14 · $104.00
Gamma flip: ~$75.00 — Approx — based on put OI concentration of 13,407 (21.1% below spot)
Structural: Max pain $104/102/105. EM 1w $88.99/$101.09. Support $86.94, resistance $103.14/$104. Gamma flip ~$75.

Dealer Positioning (GEX/DEX)

GEX: $-20.6M

DEX: +45.8M shares

Gamma flip: ~$75 (Approx — based on put OI concentration of 13,407 (21.1% below spot))

NTM gamma: GEX -$20.6M (short), DEX +45.8M (long). Flip at $75.

IV Analysis

IV vs VIX: Rich vs VIX 16.4, near-term high.

Term structure: Backwardated near expiry due to event risk.

Skew: Put skew elevated; short puts below support.

Flow Analysis

Net premium: Net premium -$121M bearish, put/call vol ratio 0.76, strong put buying.

Directional prints: 53.1 put 86 OTM 2026-06-26 — Vol 1024 vs OI 106 (9.7x), OTM put buyer, bearish. 355.5 put 135 ITM 2026-06-18 — Vol 1667 vs OI 254 (6.6x), ITM put expiring today, likely closing; high IV suggests panic.

Unusual: 55.7 call 100 OTM 2026-07-02 — Vol 3332 vs OI 478 (7.0x), OTM call buyer for next week, bullish or hedge. 53.8 call 97 OTM 2026-06-26 — Vol 1111 vs OI 162 (6.9x), OTM call buyer, bullish. 52.8 call 98 OTM 2026-06-26 — Vol 679 vs OI 119 (5.7x), OTM call buyer, bullish.

Risks & Catalysts

!Pin below MP at expiry
!Gamma flip at $75
!High vol persists
!Mixed flow no catalyst

Strategy Viability

StrategyEdgeBest SetupPrimary Risk
Bull call spreadModerate
Buy 2026-06-26 $95.00/$105.00 call spread
Why now: Low VIX, positive dealer delta, gamma flip at $75 supports upside; bull call spread captures directional move with limited downside.
Upside capped at 105; pin risk at expiry. Substitutions: long_call: resolved contract 2025-02-21 $95.00 missing; used 2026-06-26 $95.00.; short_call: resolved contract 2025-02-21 $105.00 missing; used 2026-06-26 $105.00.

Top Plays

#1
Bull Call Spread
Buy 2026-06-26 $95.00/$105.00 call spread
Buys 95/105 call spread to express bullish bias ahead of earnings, limited downside.
Why this play: Only eligible candidate; low VIX, positive dealer delta support upside capture with limited risk.
Debit: $2.29-$2.81
Max loss: $2.81
BE: $97.81
Mgmt: Exit at 50% profit or stop loss if NOW breaks below $86.94.
Traders seeking directional upside with defined risk.

Watchlist Triggers

Entry Triggers
IFIF NOW holds above $86.94 support with bullish price action and VIX remains low → THEN enter Bull Call Spread: Buy 2026-06-26 $95/$105 call spread for $2.29-$2.81
Exit Triggers
EXITIF NOW breaks and closes below $86.94 → THEN exit the Bull Call Spread to limit losses
EXITIF Bull Call Spread reaches 50% of max gain ($3.60) or price nears $104 resistance → THEN take profit or roll the spread

Tactical Summary

Cautiously bullish on NOW ahead of earnings; use 95/105 call spread for upside with defined risk. Key support at 86.94, resistance at 104. Exit on breakdown or 50% profit.
How to Use These Reports
This directional reflects the market close on June 18, 2026.
What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.