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NOW

ServiceNow, Inc.Close $127.65EOD only

Max Pain

$110.00

Next expiry Jun 5, 2026

Expected Move

±$3.80

3.0% from close

Price Gap

-17.65

Distance to max pain

IV Rank

High premium

P/C OI

0.87

Slightly call-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 2, 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 2, 2026 close

NOW Flow Report

Analysis based on market close April 17, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 17, 2026. A newer flow report is available for May 26, 2026.

View latest report

Flow Verdict

Confidence:

6.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.7% from MP; +1 VIX 17

Watch next session: watch price vs gamma-flip 85; monitor follow-through in 152/164 call OI; track any accumulation of near-term puts

Flow Summary

Net premium: -$52.4M bearish

P/C volume ratio: 0.63

P/C OI ratio: 0.78

Pinning regime: positive GEX and spot>MP favor upside/containment, but sizable near-term put flow and negative net premium create downside risk; key pivot is gamma-flip ~85 and follow‑through in large call/put prints.

Notable Prints

NOW 2026-05-15 $164.00 Call

Vol: 1,011

OI: 124

Vol/OI: 8.2x

IV: 78.1%

Notional: ~$9K

Intent: long-call/speculation

Dual read: buy vs sell-to-open block

Read-through: upside interest

NOW 2026-04-17 $124.00 Put

Vol: 1,081

OI: 212

Vol/OI: 5.1x

IV: 345.3%

Notional: ~$3.0M

Intent: short-term put buy/hedge

Dual read: protective vs directional panic

Read-through: acute downside concern

NOW 2026-05-15 $152.00 Call

Vol: 1,001

OI: 265

Vol/OI: 3.8x

IV: 71.1%

Notional: ~$10K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

NOW 2026-04-24 $98.00 Call

Vol: 1,060

OI: 363

Vol/OI: 2.9x

IV: 86.9%

Notional: ~$461K

Intent: recovery/collar leg

Dual read: spec buy vs hedge leg

Read-through: bearish-to-bull recovery play

NOW 2026-04-17 $116.00 Put

Vol: 360

OI: 124

Vol/OI: 2.9x

IV: 266.4%

Notional: ~$702K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Concentrated May calls at 152/164 observed; trade timestamps show clustered prints. Trade-size and OI suggest possible institutional activity but trade-types include both BTO and STO—confidence medium, pending further execution/timestamp/OI split analysis.

Put additions: Notable short-dated put activity clustered 96–124 and May 144 buys; elevated put OI below spot consistent with downside protection demand; confidence medium-high for protective intent on larger-lot buys, lower for small-lot prints.

GEX/DEX consistency: GEX positive (+$22.4M) and DEX net buy (~+31.2M shares) vs mixed option flow; overall consistency mixed—may contribute to pinning risk near expiries.

OI clusters: Largest OI concentrations: puts ~12.8k contracts ~12% below spot (gamma flip ~85); calls concentrated 152–164 May; verify open/close flags for exact positioning.

Hedging evidence: Signs compatible with collars/put purchases and spot-delta hedging on larger-lot trades; inference softened pending confirmed trade-side labels.

Max pain context: Spot ~1.7% above computed max pain; short-dated expiries present pinning risk if flows persist.

Signal vs Noise

~Signal: clustered May call prints with large sizes and concentrated OI — potential institutional/structured interest but requires verification of BTO/STO and algo tags (confidence medium).

~Signal: substantial near-term put OI and elevated IV on Apr expiries suggest genuine downside protection demand, stronger where fills are large-lot buys.

~Noise: small-lot/high-IV prints and isolated high-volume prints without OI buildup likely algos/flow; treat concentrated prints cautiously until trade-type/OI split confirmed.

Key Conclusions

⚠️Pinning risk into Apr expiries given short-dated put flow and positive GEX; monitor trade-side flags.

🔎Primary theme: downside hedging vs clustered call-selling/structuring; verify BTO/STO, trade sizes, and timestamps before firming view.

How to Use These Reports

This flow reflects the market close on April 17, 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.