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NOW

ServiceNow, Inc.Close $101.83EOD only

Max Pain

$93.00

Next expiry May 22, 2026

Expected Move

±$6.10

6.0% from close

Price Gap

-8.83

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.74

Slightly call-heavy

Consensus

6.5/10

Bullish tilt

Published snapshot: May 19, 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

May 19, 2026 close

NOW Flow Report

Analysis based on market close May 19, 2026

Directional Theta Gang Flow Earnings Consensus

Consensus-supported lens with chain history and key metrics in the rail.

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 9.5% from MP; +0.5 VIX 18

Watch next session: Call volume persistence; $112 strike activity; Put flow reversal

Flow Summary

Net premium: +$53.3M bullish

P/C volume ratio: 0.25

P/C OI ratio: 0.74

Aggressive call buying dominated flow, with standout prints at $112 and $114 strikes. Positive GEX and net call premium indicate bullish positioning. Despite negative market context, flow signals strong upward bias.

Notable Prints

NOW 2026-05-29 $112.00 Call

Vol: 21,847

OI: 185

Vol/OI: 118.1x

IV: 70.4%

Notional: ~$3.5M

Intent: Bullish speculation

Read-through: Bullish momentum

NOW 2026-05-22 $105.00 Put

Vol: 3,142

OI: 194

Vol/OI: 16.2x

IV: 72.1%

Notional: ~$1.5M

Intent: Bearish hedge

Dual read: Possible protective put

Read-through: Defensive positioning

NOW 2026-05-22 $102.00 Put

Vol: 3,143

OI: 222

Vol/OI: 14.2x

IV: 70.8%

Notional: ~$974K

Intent: Bearish protection

Dual read: Part of put spread

Read-through: Bearish bias

NOW 2026-06-26 $130.00 Call

Vol: 1,893

OI: 144

Vol/OI: 13.2x

IV: 69.8%

Notional: ~$363K

Intent: Bullish longer-term bet

Read-through: Optimistic outlook

NOW 2026-05-22 $104.00 Put

Vol: 3,003

OI: 239

Vol/OI: 12.6x

IV: 73.2%

Notional: ~$1.3M

Intent: Bearish positioning

Dual read: Possible collar

Read-through: Near-term bearish

Institutional Positioning

Call additions: Aggressive call buying at $112 (5/29) and $111-$112 (5/22); also $130 (6/26).

Put additions: Puts added near spot $102-$105 (5/22); massive put OI at $85 (11K contracts).

GEX/DEX consistency: Yes: GEX +$45.1M, DEX +37.5M shares, consistent with bullish call flow.

OI clusters: Put OI concentrated at $85; call OI building at $112 and $108.

Hedging evidence: Near-term puts at $102-$105 suggest hedging of long calls, forming collars.

Max pain context: Spot above MP; gamma pinning near $100-$102 zone.

Signal vs Noise

~Signal: $112 5/29 call vol/OI 118x confirms institutional bullish positioning.

~Noise: Small put volumes near spot may be retail hedging, not trend.

Key Conclusions

📈Heavy call accumulation at $112 signals institutional bullish bet ahead.

🛡️Put concentration at $85 suggests downside hedging far from current price.

How to Use These Reports

This flow reflects the market close on May 19, 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.