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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 15, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

ServiceNow reports Jul 22. 100% beat rate (5/5). Stock $104.69, below front-week max pain $107. Call flow heavy (P/C vol 0.35).

Confidence:
6 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 VIX 16
Most important: 100% beat rate and aggressive call buying suggest bullish bias, but GEX pinning and VIX 16 cap volatility.
🔥100% beat rate over 5 quarters.
⚠️Gamma flip at $75, 28% below spot.
📈Call volume ratio 0.35, heavily bullish.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$75.00 — Approx — based on put OI concentration of 13,241 (28.0% below spot)

Earnings Overview

Next earnings: 2026-07-22 (37 days)explicit

Expected moves:

  • 2026-06-18 (3d): ±$5.33 (5.1%)
  • 2026-06-26 (11d): ±$8.90 (8.5%)
  • 2026-07-02 (17d): ±$10.90 (10.5%)

IV Setup

Term structure: Front-week (3d) IV ~63%, next week (11d) ~62%, pre-earnings (37d) ~59%; upward sloping.

Crush estimate: Expect 10-15% IV crush post-earnings given 100% beat rate.

Skew: Call skew elevated; unusual call vol at $114, $109, $111. Put skew low except deep OTM.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: 100% beat rate, but avg move magnitude unknown.

Directional bias: Bullish due to consistent beats.

Key Levels

1$75.00 gamma flip
2EM guardrails: 2d $98.83/$109.48
3Max pain pins: $107 (2026-06-18); $105 (2026-06-26); $108 (2026-07-02)

Flow Highlights

Unusual call activity at $114 (27.6x vol/OI) and $109 (6.5x).

Aggressive bullish positioning ahead of earnings.

Deep OTM put activity at $148 and $178 (2.7x, 2.6x vol/OI).

Hedging or speculative downside bets, but low volume.

Strategies

Iron Condor on NOW
Sell 2026-06-26 $98.00/$95.00 put wing and $110.00/$114.00 call wing
Credit: $1.49-$1.82
Max loss: $2.18
Max gain: $1.82
BE: 96.18 / 111.82
Trigger: Close at 50% max profit or before earnings.
Consistent beats and call flow limit downside; front-week IV elevated. Collects premium with defined risk.
Outperforms: Sell put and call wings to profit from range-bound move and IV crush.
Underperforms: Move outside short strikes invalidates range thesis.
Call Calendar on NOW
Sell 2026-06-26 $110.00 call / buy 2026-07-24 $110.00 call
Debit: $4.09-$5.00
Max loss: $5.00
Max gain: Variable
BE: Path-dependent
Trigger: Close short leg before earnings; adjust if needed.
Front-week IV higher than back; benefits from IV contraction post-earnings.
Outperforms: Sell short-term call, buy long-term call to profit from vol crush.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Short Strangle on NOW
Sell 2026-06-26 $95.00 put + sell $110.00 call
Credit: $3.22-$3.93
Max loss: Unlimited
Max gain: $3.93
BE: 91.07 / 113.93
Trigger: Set 50% profit target; roll if tested.
High IV and consistent beats reduce large move probability; collects max premium.
Outperforms: Sell OTM put and call to capture premium with wide breakevens.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Long straddle
Buy 2026-07-24 $105.00 put + buy $105.00 call
Debit: $16.34-$19.97
Max loss: $19.97
Max gain: Unlimited
BE: 85.03 / 124.97
100% beat rate suggests potential move, but IV crush risk.
Outperforms: Capture post-earnings move with ATM straddle.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.

Risk Assessment

!Earnings miss after 5 consecutive beats would surprise.
!Gamma flip at $75 (28% below) could accelerate downside.
!High VIX (16) may amplify post-earnings move.

What to Watch

?Max pain pin $107 (front-week).
?Resistance $115 (call wall).
?Support $93 (put floor).
?IV crush magnitude after earnings.
How to Use These Reports
This earnings reflects the market close on June 15, 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.