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NOW

ServiceNow, Inc.Close $98.34EOD only
Max Pain
$99.00
Next expiry Jul 2, 2026
Expected Move
±$5.80
5.9% from close
Price Gap
+0.66
Distance to max pain
IV Rank
40
Middle-high premium
P/C OI
0.73
Slightly call-heavy
Consensus
5.5/10
Neutral tilt
Published snapshot: Jun 26, 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 26, 2026 close
NOW Earnings Report
Analysis based on market close June 29, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

NOW 7/22 earnings; 100% beat rate; IV elevated; mixed flow but heavy call buying at $105.

Confidence:
6 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +1 VIX 18
Most important: Max pain $100; call OI wall $110-$120.
📈Heavy call buying at $105 for 7/10 suggests bullish bet
📉Net put premium dominates despite call activity
⚠️IV elevated; post-earnings crush likely

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$70.00 — Approx — based on put OI concentration of 24,398 (30.0% below spot)

Earnings Overview

Next earnings: 2026-07-22 (23 days)explicit

Expected moves:

  • 2026-07-02 (3d): ±$4.82 (4.8%)
  • 2026-07-10 (11d): ±$8.00 (8.0%)
  • 2026-07-17 (18d): ±$10.20 (10.2%)

IV Setup

Term structure: Near-term ~57-60% IV; post-earnings week ~70%; puts skewed higher.

Crush estimate: Post-earnings IV crush likely 40-50%.

Skew: Elevated put skew; 7/10 put IV ~71% vs call ~57%.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Expected moves ±$4.82 (3d), ±$8.00 (11d), ±$10.20 (18d); actuals not available.

Directional bias: Bullish historical beat streak (5/5).

Key Levels

1$70.00 gamma flip
2EM guardrails: 2d $95.15/$104.80
3Max pain pins: $98 (2026-07-02); $100 (2026-07-10); $100 (2026-07-17)

Flow Highlights

7/10 $105 Call vol 8,614 (15.4x OI)

Aggressive bullish positioning ahead of earnings.

Net premium -$47.6M; put buying dominates

Hedging or bearish sentiment offsets call activity.

Strategies

Iron Condor on NOW
Sell 2026-07-24 $95.00/$90.00 put wing and $105.00/$110.00 call wing
Credit: $2.97-$3.63
Max loss: $1.37
Max gain: $3.63
BE: 91.37 / 108.63
Trigger: Close at 50% profit or if stock breaks beyond wings.
Defined risk, IV crush, and pinning at $100 max pain make this the highest probability play.
Outperforms: Sell 95/90 put wing and 105/110 call wing on 7/24 expiration; collect premium from elevated IV and expected narrow range.
Underperforms: Move outside short strikes invalidates range thesis.
Short Strangle on NOW
Sell 2026-07-24 $95.00 put + sell $105.00 call
Credit: $9.00-$11.00
Max loss: Unlimited
Max gain: $11.00
BE: 84.00 / 116.00
Trigger: Monitor delta; roll or close if stock approaches strikes.
Higher premium than iron condor, but unlimited risk; suitable for aggressive traders betting on mean reversion.
Outperforms: Sell 95 put and 105 call on 7/24; capitalize on IV crush and time decay as stock stays within expected move.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Call Calendar on NOW
Sell 2026-07-24 $105.00 call / buy 2026-08-21 $105.00 call
Debit: $2.48-$3.03
Max loss: $3.03
Max gain: Variable
BE: Path-dependent
Trigger: Exit if stock drops below $98 invalidation; take profit on vol crush.
Leverages earnings IV crush where front-month vol contracts more than back-month; bullish bias.
Outperforms: Sell 7/24 $105 call, buy 8/21 $105 call; profit from vol contraction and time decay on short leg.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!High IV may overstate expected move
!Gamma pinning near $100 could cap upside
!Historical beat rate may not continue

What to Watch

?Implied moves for 7/2 and 7/10 expirations
?Max pain $100 pinning
?Volume at $105 call strike
How to Use These Reports
This earnings reflects the market close on June 29, 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.