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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 12, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

NOW earnings 40 days out, historical 100% beat rate, IV elevated. Spot below gamma flip, mixed flow with bullish call buying and bearish puts.

Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 5.4% from MP; +1 VIX 18
Most important: 100% beat rate but spot below $108 MP; call OI wall $120-$150 suggests limited upside unless catalyst.
🔔100% beat rate, but spot 5% below MP $108; options pricing neutral to bearish.
🔥Deep OTM $65 put with 139% IV signals panic hedging.

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 13,221 (26.6% below spot)

Earnings Overview

Next earnings: 2026-07-22 (40 days)explicit

Expected moves:

  • 2026-06-18 (6d): ±$6.42 (6.3%)
  • 2026-06-26 (14d): ±$9.60 (9.4%)
  • 2026-07-02 (20d): ±$12.75 (12.5%)

IV Setup

Term structure: Front-end IV 50-60% (6/18,6/26), back-end elevated; 40d IV ~60%.

Crush estimate: Expect 10-15% IV crush post-earnings.

Skew: Put skew elevated; deep OTM $65 put IV 139%.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not specified; 100% beat rate suggests consistent upside surprises.

Directional bias: Bullish bias from earnings history.

Key Levels

1$75.00 gamma flip
2EM guardrails: 1w $95.73/$108.58
3Max pain pins: $108 (2026-06-12); $108 (2026-06-18); $105 (2026-06-26)

Flow Highlights

Heavy call buying at $102 and $100 strikes expiring today (19.6x and 6.3x OI).

Bullish positioning near spot $101.7, targeting $102+.

Unusual put volume at $65 strike (6/18) with IV 139%.

Speculative tail hedge or lottery.

Strategies

Call Diagonal 115/105
Sell 2026-07-17 $115.00 call / buy 2026-07-24 $105.00 call
Debit: $4.28-$5.23
Max loss: $5.23
Max gain: Variable
BE: Path-dependent
Trigger: Monitor invalidation at $92.55; exit if spot drops below.
Best liquidity, 100% beat rate, sells front-month IV, owns back-month upside.
Outperforms: Sells high IV near-term call, buys lower strike longer-term call for post-earnings crush.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Call Diagonal 120/111
Sell 2026-07-17 $120.00 call / buy 2026-07-24 $111.00 call
Debit: $3.24-$3.96
Max loss: $3.96
Max gain: Variable
BE: Path-dependent
Trigger: Requires tight monitoring; low liquidity. Liquidity warning: Liquidity constraints: long_call: Wide spread (84%).
Similar to rank1 but higher strike, lower liquidity.
Outperforms: Sells $120 call, buys $111 call for upside capture.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Bull call spread
Buy 2026-07-24 $119.00/$134.00 call spread
Debit: $1.51-$1.84
Max loss: $1.84
Max gain: $13.16
BE: $120.84
Historical beat rate and call OI wall suggest upside potential.
Outperforms: Bull call spread to benefit from upside with defined risk.
Underperforms: Loss of support weakens upside continuation thesis.

Risk Assessment

!Earnings 40 days away; long-dated IV may decay slowly.
!Spot below gamma flip $108; potential snap higher if catalyst.
!Put concentration at low strikes suggests downside protection.

What to Watch

?Spot action around $102 and $108.
?Volume on call OI wall $120-$150.
?Pre-earnings guidance or analyst changes.
How to Use These Reports
This earnings reflects the market close on June 12, 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.