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NOW

ServiceNow, Inc.Close $104.15EOD only
Max Pain
$107.00
Next expiry Jun 18, 2026
Expected Move
±$5.33
5.1% from close
Price Gap
+2.85
Distance to max pain
IV Rank
78
High premium
P/C OI
0.83
Slightly call-heavy
Consensus
7.0/10
Bullish tilt
Published snapshot: Jun 15, 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 15, 2026 close
NOW Earnings Report
Analysis based on market close June 16, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

ServiceNow earnings on 2026-07-22. IV elevated with upward term structure. Historical beat rate 100% supports bullish bias.

Confidence:
5.5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 4.4% from MP; +1 VIX 16
Most important: 100% historical beat rate and deep ITM call flow suggest bullish expectation, but low liquidity OTM puts signal hedging.
📈100% historical beat rate (5/5) supports bullish bias
⚠️Deep OTM put prints at $148-$178 exp before earnings indicate hedging
💰Deep ITM call sweep $91/$92 exp before earnings, not positioning for event

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 (26.0% below spot)

Earnings Overview

Next earnings: 2026-07-22 (36 days)explicit

Expected moves:

  • 2026-06-18 (2d): ±$4.15 (4.1%)
  • 2026-06-26 (10d): ±$7.70 (7.6%)
  • 2026-07-02 (16d): ±$9.70 (9.6%)

IV Setup

Term structure: Steeply upward: 2d ±4.1%, 10d ±7.6%, 16d ±9.6%

Crush estimate: Post-earnings IV crush likely significant; months until event limits pre-event decay

Skew: Put OI concentrated $60-$92 (floor), call wall $110-$120; moderate put skew from OTM put prints

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: 100% beat rate (5/5) implies avg move above implied

Directional bias: Bullish driven by consistent beats

Key Levels

1$75.00 gamma flip
2EM guardrails: 2d $97.18/$105.48; 1w $93.63/$109.03
3Max pain pins: $106 (2026-06-18); $105 (2026-06-26); $108 (2026-07-02)

Flow Highlights

Heavy call buying at $91 and $92 strikes exp 6/26 (5-6x OI)

Expiries before earnings; likely not pre-earnings positioning but independent bullish bet

Unusual put volume at high strikes ($148-$178) exp 6/18

Expiries before earnings; likely hedges or speculative bets unrelated to earnings

Strategies

NOW Iron Condor
Sell 2026-07-24 $95.00/$90.00 put wing and $110.00/$111.00 call wing
Credit: $1.62-$1.98
Max loss: $3.02
Max gain: $1.98
BE: 93.02 / 111.98
Trigger: Monitor price near max pain $106-$108; adjust wings if breached. Exit at 50% max gain or before event. Liquidity warning: Liquidity constraints: long_call: Open interest below 25. Substitutions: long_put: resolved contract 2026-07-24 $92.00 missing; used 2026-07-24 $90.00.
Only eligible candidate; profitability from IV crush and range-bound move post-earnings.
Outperforms: Sells put spread and call spread near expected range, capitalizing on upward term structure and 100% beat rate.
Underperforms: Move outside short strikes invalidates range thesis.

Risk Assessment

!IV crush post-earnings could negate long premium even if direction correct
!Gap risk from macro selloff (SPY -0.6%, QQQ -1.9%)
!Time decay accelerating as event approaches

What to Watch

?Price action around max pain $106-$108
?Call wall at $110 and put floor at $92
?Gamma flip level ~$75 based on put OI concentration
How to Use These Reports
This earnings reflects the market close on June 16, 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.