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NOW

ServiceNow, Inc.Close $93.80EOD only
Max Pain
$100.00
Next expiry Jun 26, 2026
Expected Move
±$3.72
4.0% from close
Price Gap
+6.20
Distance to max pain
IV Rank
30
Middle-high premium
P/C OI
0.77
Slightly call-heavy
Consensus
6.0/10
Bearish tilt
Published snapshot: Jun 24, 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 24, 2026 close
NOW Earnings Report
Analysis based on market close June 25, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Strong beat rate (100%) but spot below max pain; bullish call flow; IV elevated; risk of tail events.

Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 8.7% from MP; +0.5 VIX 19
Most important: Spot below $98 max pain; call OI wall $100-$120; put floor $60-$85; watch for mean reversion.
📈Heavy call flow on $90-$95 strikes suggests bullish sentiment.
⚠️Elevated IV and spot below max pain increase risk of pin action.
✅100% historical beat rate supports upside bias.

Regime Classification

Vol Regime
High
Gamma Regime
Trending
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$65.00 — Approx — based on put OI concentration of 15,261 (27.4% below spot)

Earnings Overview

Next earnings: 2026-07-22 (27 days)explicit

Expected moves:

  • 2026-06-26 (1d): ±$2.40 (2.7%)
  • 2026-07-02 (7d): ±$5.55 (6.2%)
  • 2026-07-10 (15d): ±$7.95 (8.9%)

IV Setup

Term structure: Upward sloping: 1d ±2.7%, 7d ±6.2%, 15d ±8.9%.

Crush estimate: Post-earnings IV crush ~50-60% expected.

Skew: OTM put skew elevated, $125 put IV 128.5%.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: N/A

Directional bias: Bullish (100% beat rate over 5 quarters).

Key Levels

1$65.00 gamma flip
2EM guardrails: 2d $87.12/$91.92; 1w $83.97/$95.07
3Max pain pins: $98 (2026-06-26); $100 (2026-07-02); $105 (2026-07-10)

Flow Highlights

Aggressive call buying on near-term $90-$95 strikes with vol/OI >5.

Bullish positioning targeting upside ahead of earnings.

Unusual $125 put (7/2) with 128.5% IV and 952 vol.

Potential tail hedge or volatility speculation at extreme OTM.

Strategies

Bullish Call Calendar
Sell 2026-07-17 $100.00 call / buy 2026-08-21 $100.00 call
Debit: $3.44-$4.21
Max loss: $4.21
Max gain: Variable
BE: Path-dependent
Trigger: Exit at -25% loss or 125% target; close before earnings.
Only eligible candidate; upward sloping term structure and bullish bias from 100% beat rate make it the top play.
Outperforms: Sell near-term $100 call, buy later expiry to capture IV crush decay and directional upside.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!Spot below max pain and EM guardrails increases pin risk.
!High VIX and trending gamma regime amplify moves.
!IV crush post-earnings could hurt long premium positions.
!Call OI wall at $100-$120 may cap upside.

What to Watch

?$87-$92 support and $97-$98 resistance levels.
?Volume at $100 call strike (OI wall).
?Earnings surprise direction and post-event IV crush.
How to Use These Reports
This earnings reflects the market close on June 25, 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.