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NOW

ServiceNow, Inc.Close $102.15EOD only
Max Pain
$108.00
Next expiry Jun 18, 2026
Expected Move
±$6.43
6.3% from close
Price Gap
+5.85
Distance to max pain
IV Rank
90
High premium
P/C OI
0.82
Slightly call-heavy
Consensus
6.5/10
Bearish tilt
Published snapshot: Jun 12, 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 12, 2026 close
NOW Earnings Report
Analysis based on market close June 11, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 11, 2026. A newer earnings report is available for June 12, 2026.

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Earnings Verdict

Earnings 41d away. 100% beat rate. Heavy call buying at $105-$108 short-dated, net premium negative. Bullish bias with upside resistance at $113.

Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 8.8% from MP; +0.5 VIX 19
Most important: Aggressive call accumulation contrasts with deep OTM put buying. Support at $99, resistance at $113.
🐂Call accumulation at $105 and $108 is strongly bullish near-term.
⚠️Deep OTM put activity warns of downside hedging pressure.

Regime Classification

Vol Regime
High
Gamma Regime
Trending
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$75.00 — Approx — based on put OI concentration of 13,172 (27.2% below spot)

Earnings Overview

Next earnings: 2026-07-22 (41 days)explicit

Expected moves:

  • 2026-06-12 (1d): ±$3.57 (3.5%)
  • 2026-06-18 (7d): ±$7.55 (7.3%)
  • 2026-06-26 (15d): ±$10.40 (10.1%)

IV Setup

Term structure: Front-end elevated, expected moves 3.5% (1d) to 10.1% (15d)

Crush estimate: Not computed; event distant. Post-earnings IV crush typical 50-70%.

Skew: Put skew elevated on deep OTM puts ($135-$220) suggesting tail hedging.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Expected 3.5% 1d move vs historical 100% beat rate, likely larger moves.

Directional bias: Bullish given 5/5 earnings beats.

Key Levels

1$75.00 gamma flip
2EM guardrails: 2d $99.51/$106.66; 1w $95.53/$110.63
3Max pain pins: $113 (2026-06-12); $109 (2026-06-18); $105 (2026-06-26)

Flow Highlights

Unusual call volume at $105 (12x OI) and $108 (5x OI) exp. 6/12

Aggressive short-dated bullish positioning ahead of potential upside.

Deep OTM puts ($135, $220) with high IV traded

Tail risk hedging or speculative bearish bets.

Strategies

Call Calendar
Sell 2026-06-18 $113.00 call / buy 2026-07-10 $113.00 call
Debit: $2.97-$3.63
Max loss: $3.63
Max gain: Variable
BE: Path-dependent
Trigger: Exit if spot breaches $92.68 (invalidation) or adjust at earnings.
Captures front-end IV decay while maintaining upside exposure; earnings beat rate 100% supports bullish bias but resistance at $113 caps short-term upside.
Outperforms: Sell short-dated $113 call, buy longer-dated $113 call to profit from IV contraction and time decay.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Long straddle
Buy 2026-08-21 $110.00 put + buy $110.00 call
Debit: $22.95-$28.05
Max loss: $28.05
Max gain: Unlimited
BE: 81.95 / 138.05
100% beat rate, expected 3.5% 1d move; straddle captures volatility.
Outperforms: Buy straddle to profit from large earnings move.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.
Bull call spread
Buy 2026-08-21 $115.00/$120.00 call spread
Debit: $1.21-$1.48
Max loss: $1.48
Max gain: $3.52
BE: $116.48
Bullish bias, resistance at $113; use 100/110 call spread.
Outperforms: Define-risk bullish earnings play, cap upside at resistance.
Underperforms: Loss of support weakens upside continuation thesis.

Risk Assessment

!Negative net premium ($46.8M) indicates overall selling pressure.
!Call OI wall at $120-$130 caps upside; put floor at $60-$92.
!Spot below MP ($113) and EM guardrails ($99-$106) suggest range-bound.

What to Watch

?Earnings on 2026-07-22. Any guidance shift will impact.
?Key levels: $99 support, $113 resistance.
?Sustained call buying at $105 and $108 near-term.
How to Use These Reports
This earnings reflects the market close on June 11, 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.

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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.