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NOW

ServiceNow, Inc.Close $98.34EOD only
Max Pain
$99.00
Next expiry Jul 2, 2026
Expected Move
±$5.80
5.9% from close
Price Gap
+0.66
Distance to max pain
IV Rank
40
Middle-high premium
P/C OI
0.73
Slightly call-heavy
Consensus
5.5/10
Neutral tilt
Published snapshot: Jun 26, 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 26, 2026 close
NOW Earnings Report
Analysis based on market close May 13, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from May 13, 2026. A newer earnings report is available for June 26, 2026.

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Earnings Verdict

Earnings 70d out; 100% beat rate. Low near-term event risk, but elevated skew suggests tail hedging.

Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 8.4% from MP; +1 VIX 18
Most important: Large deep OTM put buying in June (174, 178, 160) signals bearish hedge, not earnings-specific.
⚠️Deep OTM puts (174/178/160) with IV >190% – tail hedge or bearish conviction.
📈0dte $87 call block: 13x vol/OI – short gamma play?

Regime Classification

Vol Regime
High
Gamma Regime
Trending
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$70.00 — Approx — based on put OI concentration of 16,315 (19.6% below spot)

Earnings Overview

Next earnings: 2026-07-22 (70 days)explicit

Expected moves:

  • 2026-05-15 (2d): ±$3.18 (3.6%)
  • 2026-05-22 (9d): ±$6.38 (7.3%)
  • 2026-05-29 (16d): ±$8.20 (9.4%)

IV Setup

Term structure: Steep upward: 2d IV ~52%, 1w IV 54-69%, Jun18 deep OTM puts 175-226%.

Crush estimate: Minimal near-term; event far out (70d), crush negligible.

Skew: Put skew extreme; deep OTM puts IV >200% vs ATM calls ~50%.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: N/A (event far out)

Directional bias: Bullish bias from 100% beat rate, but spot below max pain.

Key Levels

1$70.00 gamma flip
2EM guardrails: 2d $83.88/$90.23; 1w $80.68/$93.43
3Max pain pins: $95 (2026-05-15); $90 (2026-05-22); $89 (2026-05-29)

Flow Highlights

Aggressive call buying at $87 (2d): 4816 vol vs 366 OI, 13x ratio.

Short-term call interest; may reflect gamma scalp or bullish positioning.

Heavy put buying in Jun18 strikes: 174, 178, 160 with high vol/OI and extreme IV.

Likely tail hedges or directional bearish bet, not earnings-driven.

Strategies

Risk Assessment

!Earnings 70 days away; near-term price action driven by gamma and flow, not event.
!High IV skew implies tail risk perception; put open interest heavy below $85.
!Spot below EM guardrails ($83.88-$90.23) suggests bearish bias near-term.

What to Watch

?Gamma flip level near $70 (put OI concentration).
?Max pain pins: $95 (2d), $90 (1w) – resistance levels.
?Unusual put activity in Jun18: monitor for unwinding.
How to Use These Reports
This earnings reflects the market close on May 13, 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.