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NOW

ServiceNow, Inc.Close $102.13EOD only
Max Pain
$95.00
Next expiry May 29, 2026
Expected Move
±$6.23
6.1% from close
Price Gap
-7.13
Distance to max pain
IV Rank
61
High premium
P/C OI
0.76
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: May 22, 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
May 22, 2026 close
NOW Earnings Report
Analysis based on market close May 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

NOW earnings setup with 100% beat rate, upward-sloping IV, and mixed flow.

Confidence:
6.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 2.0% from MP; +1 VIX 17
Most important: 100% beat rate and call OI wall $110-$130 suggest upside, but negative net premium and pinning near $98 max pain caution.
📊100% beat rate historically, but small sample (5 quarters)
⚠️Negative net premium contradicts call-heavy flow; watch for reversal

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$92.00 — Approx — based on put OI concentration of 12,989 (7.9% below spot)

Earnings Overview

Next earnings: 2026-07-22 (57 days)explicit

Expected moves:

  • 2026-05-29 (3d): ±$5.18 (5.2%)
  • 2026-06-05 (10d): ±$8.30 (8.3%)
  • 2026-06-12 (17d): ±$10.55 (10.6%)

IV Setup

Term structure: Upward sloping; 3d ±5.2%, 10d ±8.3%, 17d ±10.6%

Crush estimate: Moderate; expected 20-30% crush post-event

Skew: Put/call OI ratio 0.79; skew favors calls near $110-$130 resistance.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: 100% beat rate, but avg move magnitude not available.

Directional bias: Bullish bias from beat rate; small sample of 5 quarters.

Key Levels

1$92.00 gamma flip
2EM guardrails: 2d $94.74/$105.09; 1w $91.62/$108.22
3Max pain pins: $98 (2026-05-29); $96 (2026-06-05); $100 (2026-06-12)

Flow Highlights

Large call volume on $106C (5828 vol, 16.4x OI)

Aggressive bullish positioning ahead of earnings.

Negative net premium (-$1.07M) despite call-heavy volume

Mixed sentiment; possible put selling dampening premium.

Strategies

Iron Condor Profit from Range
Sell 2026-07-17 $95.00/$90.00 put wing and $100.00/$105.00 call wing
Credit: $3.51-$4.29
Max loss: $0.71
Max gain: $4.29
BE: 90.71 / 104.29
Trigger: Exit if price breaches $90 or $105; adjust strikes if IV spikes.
Best fit given upward IV, high beat rate, and max pain anchor; defined risk with high win probability.
Outperforms: Sell close strikes around $98 max pain to capture premium with limited risk.
Underperforms: Move outside short strikes invalidates range thesis.
Short Strangle for Premium
Sell 2026-07-17 $95.00 put + sell $105.00 call
Credit: $11.65-$14.25
Max loss: Unlimited
Max gain: $14.25
BE: 80.75 / 119.25
Trigger: Roll wings if price approaches; set stop at 2x credit.
Higher credit than iron condor but unlimited risk; suits bullish bias with IV support.
Outperforms: Sell OTM put and call to collect time decay and IV premium.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Long Straddle for Breakout
Buy 2026-08-21 $105.00 put + buy $105.00 call
Debit: $22.73-$27.78
Max loss: $27.78
Max gain: Unlimited
BE: 77.22 / 132.78
Trigger: Close if IV collapses; take profit on 50% move.
100% beat rate and upward IV favor directional move; straddle captures large swings.
Outperforms: Buy ATM put and call to profit from volatility expansion.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.
Long strangle
Buy 2026-08-21 $90.00 put + buy $125.00 call
Debit: $10.89-$13.31
Max loss: $13.31
Max gain: Unlimited
BE: 76.69 / 138.31
Wider strikes reduce cost; captures large move without needing exact strike.
Outperforms: Buy OTM strangle for cheaper vol exposure.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!High IV crush risk post-earnings (57 days out)
!Gamma pinning near $98 max pain may cap near-term upside
!Call OI wall $110-$130 could limit rallies

What to Watch

?Price action around $98 max pain and $100 resistance
?Volume on $106C and $102C for continuation
?Earnings date July 22; catalyst-driven moves
How to Use These Reports
This earnings reflects the market close on May 26, 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.