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NOW

ServiceNow, Inc.Close $95.04EOD only
Max Pain
$102.00
Next expiry Jun 26, 2026
Expected Move
±$6.05
6.4% from close
Price Gap
+6.96
Distance to max pain
IV Rank
100
High premium
P/C OI
0.77
Slightly call-heavy
Consensus
6.0/10
Consensus signal
Published snapshot: Jun 18, 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 18, 2026 close
NOW Earnings Report
Analysis based on market close June 18, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

NOW 100% beat rate, confidence 7, spot below MP ($104) with heavy put flow, event 34d away.

Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 8.6% from MP; +1 VIX 16
Most important: Spot below max pain with put accumulation suggests caution despite bullish history.
📈100% beat rate historically suggests positive surprise potential.
🚨Heavy put flow and spot below MP raise caution.
📉Net put premium -$121M signals bearish positioning.

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 13,407 (21.1% below spot)

Earnings Overview

Next earnings: 2026-07-22 (34 days)explicit

Expected moves:

  • 2026-06-26 (8d): ±$6.05 (6.4%)
  • 2026-07-02 (14d): ±$8.10 (8.5%)
  • 2026-07-10 (22d): ±$10.15 (10.7%)

IV Setup

Term structure: Near-term IV elevated due to event; longer-dated also high (8d ±6.4%, 22d ±10.7%).

Crush estimate: Expected crush ~20-30% post-earnings.

Skew: Put skew elevated; net premium -$121M, indicating bearish positioning.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Avg move historically near expected moves.

Directional bias: Bullish bias from 100% beat rate.

Key Levels

1$75.00 gamma flip
2EM guardrails: 1w $88.99/$101.09
3Max pain pins: $104 (2026-06-18); $102 (2026-06-26); $105 (2026-07-02)

Flow Highlights

Unusual put buys in 6/18 exp far OTM $135-$178

Hedging or downside speculation.

Large call block 7/2 $100 strike 3332 vols

Bullish anticipation of bounce.

Strategies

Bearish Put Calendar
Sell 2026-07-17 $90.00 put / buy 2026-07-24 $90.00 put
Debit: $1.44-$1.76
Max loss: $1.76
Max gain: Variable
BE: Path-dependent
Trigger: Exit if spot breaks below $87 invalidation; take profit on front IV crush.
Front IV elevated, expected crush, and put accumulation suggests downside risk despite bullish history.
Outperforms: Sells near-term put, buys later put to profit from IV crush and time decay with defined risk.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Long Straddle
Buy 2026-07-24 $97.00 put + buy $97.00 call
Debit: $13.55-$16.56
Max loss: $16.56
Max gain: Unlimited
BE: 80.44 / 113.56
Trigger: Set stop-loss at max loss; monitor IV expansion pre-event. Liquidity warning: Liquidity constraints: long_put: Open interest below 25.
Profits from large move but faces liquidity and time decay risk; less attractive given caution.
Outperforms: Buys ATM put and call to capture any large earnings move.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.

Risk Assessment

!Spot 8.6% below max pain ($104) – potential pinning or selling pressure.
!Put OI concentration creates gamma flip risk at $75.
!Elevated IV may lead to larger-than-expected move.

What to Watch

?Volume confirmation near $100 support/resistance.
?Gamma dynamics at $75 flip level.
?Pre-earnings IV expansion vs historical crush.
How to Use These Reports
This earnings reflects the market close on June 18, 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.