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NOW

ServiceNow, Inc.Close $89.52EOD only
Max Pain
$98.00
Next expiry Jun 26, 2026
Expected Move
±$2.40
2.7% from close
Price Gap
+8.48
Distance to max pain
IV Rank
35
Middle-high premium
P/C OI
0.76
Slightly call-heavy
Consensus
5.5/10
Upside lean
Published snapshot: Jun 25, 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 25, 2026 close
NOW Earnings Report
Analysis based on market close June 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

NOW earnings 7/22; implied moves moderate; historical 100% beat rate but unusual put hedging signals caution.

Confidence:
5 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 4.6% from MP; +0.5 VIX 18
Most important: Historical 100% beat rate vs deep OTM put hedging creates tension.
📊100% beat rate but 6d implied move only 5.9%.
⚠️Deep OTM put buying suggests hedging for tail risk.
📈Call OI wall $110-$120 caps upside.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$85.00 — Approx — based on put OI concentration of 13,639 (13.6% below spot)

Earnings Overview

Next earnings: 2026-07-22 (26 days)explicit

Expected moves:

  • 2026-07-02 (6d): ±$5.80 (5.9%)
  • 2026-07-10 (14d): ±$8.65 (8.8%)
  • 2026-07-17 (21d): ±$10.95 (11.1%)

IV Setup

Term structure: 6d ±5.9%, 14d ±8.8%, 21d ±11.1% - steep contango with earnings premium.

Crush estimate: Post-event IV crush ~40-60% based on implied moves.

Skew: Some call skew but deep OTM put hedging skews tails bearish.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not specified; 100% beat rate suggests upside bias.

Directional bias: Bullish on consistent beats.

Key Levels

1$85.00 gamma flip
2EM guardrails: 1w $92.54/$104.14
3Max pain pins: $94 (2026-06-26); $99 (2026-07-02); $100 (2026-07-10)

Flow Highlights

Unusual $65 put (7/17) bought 14784 vs OI 495

Large tail hedge ahead of earnings, likely institutional.

Call buying at $100 (7/10) with vol/oi 5.5

Bullish directional bet on pre-earnings rally.

Strategies

Short strangle
Sell 2026-07-02 $95.00 put + sell $105.00 call
Credit: $2.09-$2.56
Max loss: Unlimited
Max gain: $2.56
BE: 92.44 / 107.56
Trigger: Close if price approaches strikes; exit before earnings to capture IV decline.
Only eligible candidate; benefits from contango, IV crush, and time decay while hedging against both upside and downside tail risks.
Outperforms: Sells OTM call and put to collect premium, profiting if NOW stays within $95-$105 by 7/2.
Underperforms: Break outside short strikes invalidates short-vol thesis.

Risk Assessment

!Earnings miss risk after 5 straight beats.
!IV crush if move within expected range.
!Gamma flip near $85 could accelerate selloff.

What to Watch

?Price action around $94 max pain.
?Volume at $100 call wall.
?Gamma flip level $85.
How to Use These Reports
This earnings reflects the market close on June 26, 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.