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NOW

ServiceNow, Inc.Close $112.45EOD only
Max Pain
$119.00
Next expiry Jun 12, 2026
Expected Move
±$8.60
7.7% from close
Price Gap
+6.55
Distance to max pain
IV Rank
100
High premium
P/C OI
0.85
Slightly call-heavy
Consensus
5.0/10
Range bias
Published snapshot: Jun 5, 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 5, 2026 close
NOW Earnings Report
Analysis based on market close June 8, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

NOW earnings 44 days away; 100% beat rate supports bullish bias but deep OTM put activity adds caution.

Confidence:
5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 4.0% from MP; +0.5 VIX 19
Most important: Large put trade signals tail risk; call buying suggests near-term bullish sentiment.
🛡️Deep OTM put volume signals tail risk hedging
📈Call buying ahead of weekly expiration
✅Historical earnings beat rate 100% over 5 quarters

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$92.00 — Approx — based on put OI concentration of 13,077 (19.4% below spot)

Earnings Overview

Next earnings: 2026-07-22 (44 days)explicit

Expected moves:

  • 2026-06-12 (4d): ±$7.15 (6.3%)
  • 2026-06-18 (10d): ±$10.15 (8.9%)
  • 2026-06-26 (18d): ±$13.20 (11.6%)

IV Setup

Term structure: Short-dated IV elevated vs long-dated; earnings far out thus term slope negative but events add premium.

Crush estimate: Moderate crush expected post-earnings but time decay significant.

Skew: Put skew elevated; deep OTM put trade at 125% IV indicates hedging.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not applicable for far-out event; past earnings moves averaged 6%.

Directional bias: Bullish based on 100% beat rate but limited to earnings.

Key Levels

1$92.00 gamma flip
2EM guardrails: 1w $104.04/$124.34
3Max pain pins: $119 (2026-06-12); $110 (2026-06-18); $105 (2026-06-26)

Flow Highlights

Unusual volume on NOW 2026-06-18 $178 Put (1018 vs 185 OI)

Tail hedge or speculative bearish bet; high IV suggests fear.

Multiple large call trades at $115-$122 strikes for Jun12

Bullish positioning ahead of weekly expiration.

Strategies

Iron condor
Sell 2026-06-18 $115.00/$105.00 put wing and $120.00/$124.00 call wing
Credit: $4.18-$5.12
Max loss: $4.88
Max gain: $5.12
BE: 109.88 / 125.12
Trigger: Monitor price near short strikes; manage at 50% max profit or adjust if spot breaks support/resistance.
Near-term theta harvest without earnings event risk; defined risk range between support and resistance.
Outperforms: Expresses neutral bias, collects premium from elevated IV and time decay.
Underperforms: Move outside short strikes invalidates range thesis.
Call calendar
Sell 2026-06-18 $120.00 call / buy 2026-07-17 $120.00 call
Debit: $3.89-$4.76
Max loss: $4.76
Max gain: Variable
BE: Path-dependent
Trigger: Watch spot at $120 long call; close at 14-21 DTE or if spot drops below $110.
Front-month IV premium decays faster than back-month; bullish bias from 100% beat rate.
Outperforms: Profits from IV term structure and positive theta, skewed bullish.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Long strangle
Buy 2026-08-21 $110.00 put + buy $120.00 call
Debit: $21.15-$25.85
Max loss: $25.85
Max gain: Unlimited
BE: 84.15 / 145.85
Trigger: Hold through earnings; exit if spot breaks beyond strikes or IV collapses.
Cheaper convexity play on earnings move; OTM strikes align with support/resistance levels.
Outperforms: Captures potential volatility expansion before earnings with defined loss.
Underperforms: Insufficient realized move reduces long-strangle edge.
Long straddle
Buy 2026-08-21 $110.00 put + buy $110.00 call
Debit: $25.11-$30.69
Max loss: $30.69
Max gain: Unlimited
BE: 79.31 / 140.69
IV elevated before earnings; straddle profits from volatility expansion regardless of direction.
Outperforms: Buy straddle to capture large earnings move; 100% beat rate supports upside but tail risk from put activity adds symmetric payoff need.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.

Risk Assessment

!Spot below EM guardrails risks further downside.
!Time decay accelerates on near-term options.
!Unusual put flow may precede negative catalysts.

What to Watch

?Spot reaction at $104 support and $124 resistance.
?Jun12 expiration pin action near max pain $119.
?IV changes as earnings approaches July 22.
How to Use These Reports
This earnings reflects the market close on June 8, 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.