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NOW

ServiceNow, Inc.Close $100.14EOD only

Max Pain

$95.00

Next expiry Apr 24, 2026

Expected Move

±$10.00

10.0% from close

Price Gap

-5.14

Distance to max pain

IV Rank

High premium

P/C OI

0.85

Slightly call-heavy

Consensus

6.0/10

Consensus signal

Published snapshot: Apr 21, 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

Apr 21, 2026 close

NOW Flow Report

Analysis based on market close April 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 5.7% from MP; +0.5 VIX 19

Watch next session: Monitor short‑dated put/call roll/close activity; GEX and gamma flip level moves; Spot vs MP drift and VIX direction; Volume on strikes ~MP (97–108)

Flow Summary

Net premium: +$5.1M bullish

P/C volume ratio: 0.65

P/C OI ratio: 0.86

Flow is dominated by bullish dealer positioning and pinning gamma (positive GEX, DEX buying) but offset by heavy short‑dated put interest and high IV that could produce rapid downside if liquidity shifts.

Notable Prints

NOW 2026-04-24 $97.00 Put

Vol: 6,630

OI: 499

Vol/OI: 13.3x

IV: 152.5%

Notional: ~$2.0M

Intent: big-hedge

Dual read: protective/sell

Read-through: pinning

NOW 2026-04-24 $93.00 Put

Vol: 3,837

OI: 411

Vol/OI: 9.3x

IV: 152.8%

Notional: ~$679K

Intent: downside-hedge

Dual read: aggressive-buy

Read-through: bearish-signal

NOW 2026-04-24 $108.00 Call

Vol: 3,275

OI: 376

Vol/OI: 8.7x

IV: 153.1%

Notional: ~$1.2M

Intent: call-buy-flow

Dual read: cover/lotting

Read-through: upside-interest

NOW 2026-04-24 $103.00 Call

Vol: 3,385

OI: 454

Vol/OI: 7.5x

IV: 154.8%

Notional: ~$2.0M

Intent: call-buy-flow

Dual read: dealer-hedge

Read-through: short-squeeze-risk

NOW 2026-04-24 $102.00 Put

Vol: 1,047

OI: 140

Vol/OI: 7.5x

IV: 154.3%

Notional: ~$540K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Concentrated short-dated calls 103–108 (3–3.3k prints) and elevated call OI; some longer-dated protective calls present.

Put additions: Heavy short-dated put buys 97–103 strikes (vol spikes); isolated longer-dated puts (Jan 104, Jul 75) noted.

GEX/DEX consistency: GEX +9.5M and DEX +30.5M are consistent with recent bullish flow but subject to model sensitivity and OI reporting lag — treat as indicative, not definitive.

OI clusters: OI concentrated ~97–107 with notable put OI ~10.7k (~17.5% below spot); gamma flip estimated near ~85.

Hedging evidence: Pattern (short-dated puts + calls) indicates dealer hedge/collar activity more likely than pure directional sweep.

Max pain context: Spot sits above calculated max pain; conditional pinning toward low‑100s is possible as gamma decays and rolls occur, but not certain given short-dated IV spikes.

Signal vs Noise

~Signal: concentrated short-dated put flow 97–103 with high vol‑OI suggests meaningful positioning change.

~Signal: matching short-dated call prints plus positive GEX/DEX support dealer hedge/pin dynamics, but metrics are model‑sensitive.

~Noise: elevated IV on very short-dated trades inflates metrics and reduces conviction; OI reporting lags add uncertainty.

Key Conclusions

📌Short‑dated concentrated flow and positive GEX imply probable pinning pressure toward low‑100s, conditional on gamma erosion and rolls.

🔼Net flow and DEX tilt bullish, yet upside may be capped by heavy call OI 103–108 and measurement uncertainty.

How to Use These Reports

This flow reflects the market close on April 22, 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.