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NOW

ServiceNow, Inc.Close $93.01EOD only
Max Pain
$100.00
Next expiry Jun 26, 2026
Expected Move
±$5.12
5.5% from close
Price Gap
+6.99
Distance to max pain
IV Rank
28
Middle-high premium
P/C OI
0.80
Slightly call-heavy
Consensus
6.5/10
Range bias
Published snapshot: Jun 22, 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 22, 2026 close
NOW Earnings Report
Analysis based on market close June 23, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

NOW setup: 100% beat rate, high IV, bullish call flow but notable put hedging. Max pain at $100 pins near-term.

Confidence:
5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 4.1% from MP; +0.5 VIX 19
Most important: Monitor $100 call OI and gamma flip risk near $75.
🟢Bullish: $100 6/26 call volume 13k vs 4.9k OI, strong conviction.
🔴Bearish: deep OTM puts at $83 and $91 show hedging or bearish bets.
🟡Neutral: max pain at $100 aligns with call wall, but put OI below $85 adds downside risk.

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 13,483 (21.8% below spot)

Earnings Overview

Next earnings: 2026-07-22 (29 days)explicit

Expected moves:

  • 2026-06-26 (3d): ±$4.70 (4.9%)
  • 2026-07-02 (9d): ±$7.10 (7.4%)
  • 2026-07-10 (17d): ±$9.45 (9.8%)

IV Setup

Term structure: Front-end elevated (60-66% IV), longer-term declining but still high (59-68%)

Crush estimate: Expected IV crush of 50-70% post-earnings

Skew: Put skew elevated below $90; call skew flat above $100.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Historical moves within 80% of implied move

Directional bias: Bullish (100% beat rate)

Key Levels

1$75.00 gamma flip
2EM guardrails: 2d $91.24/$100.64; 1w $88.84/$103.04
3Max pain pins: $100 (2026-06-26); $102 (2026-07-02); $108 (2026-07-10)

Flow Highlights

Massive call buying at $100 6/26: 13,068 vol vs 4,899 OI

Short-term bullish sentiment, likely pinning.

Unusual put volume at $83 6/26 (1,312 vol, 3.4x OI) and $91 (2,174 vol, 3.3x OI)

Hedging or bearish positioning at OTM strikes.

Strategies

Iron Condor on NOW
Sell 2026-07-24 $95.00/$90.00 put wing and $100.00/$105.00 call wing
Credit: $3.51-$4.29
Max loss: $0.71
Max gain: $4.29
BE: 90.71 / 104.29
Trigger: Close before earnings or at 50% of max profit to avoid post-crush volatility.
Best use of elevated IV (60-66%) and expected 50-70% crush; max pain near $100 pins short strike wings.
Outperforms: Sells put and call wings for credit, profiting from IV contraction and price staying near strike.
Underperforms: Move outside short strikes invalidates range thesis.
Long straddle
Buy 2026-06-26 $96.00 put + buy $96.00 call
Debit: $4.23-$5.17
Max loss: $5.17
Max gain: Unlimited
BE: 90.83 / 101.17
100% beat rate and elevated front-end IV favor long volatility
Outperforms: Capture earnings volatility with high IV
Underperforms: Under-realized move and IV crush hurt long-vol thesis.
Bull call spread
Buy 2026-06-26 $99.00/$101.00 call spread
Debit: $0.43-$0.52
Max loss: $0.52
Max gain: $1.48
BE: $99.52
Historical 100% beat rate supports upside; defined risk limits loss
Outperforms: Bullish defined-risk spread on earnings beat
Underperforms: Loss of support weakens upside continuation thesis.

Risk Assessment

!Gamma flip level at $75 is distant but risk if spot drops.
!High VIX (19.5) implies elevated volatility risk.
!Mixed flow: call buying vs put hedging creates uncertainty.

What to Watch

?$100 max pain pinning at 6/26 expiry.
?$103 7/2 call OI buildup (788 vol, 3.7x OI).
?Spot vs $91 guardrail (1w EM $88.84-$103.04).
How to Use These Reports
This earnings reflects the market close on June 23, 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.