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NOW

ServiceNow, Inc.Close $87.05EOD only

Max Pain

$95.00

Next expiry May 15, 2026

Expected Move

±$3.17

3.6% from close

Price Gap

+7.95

Distance to max pain

IV Rank

High premium

P/C OI

0.79

Slightly call-heavy

Consensus

6.5/10

Bearish tilt

Published snapshot: May 13, 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 13, 2026 close

NOW Flow Report

Analysis based on market close May 14, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

5.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 3.7% from MP; +1 VIX 17

Watch next session: $89; $105; $70

Flow Summary

Net premium: -$50.3M bearish

P/C volume ratio: 0.37

P/C OI ratio: 0.77

High vol and pinning gamma suggest resistance overhead. Unusual call buying across expirations indicates bullish bets, but net premium negative and spot below MP keep outlook mixed.

Notable Prints

NOW 2026-11-20 $105.00 Call

Vol: 6,222

OI: 187

Vol/OI: 33.3x

IV: 62.7%

Notional: ~$6.9M

Intent: Bullish speculation

Dual read: Or long volatility

Read-through: Bullish

NOW 2026-11-20 $75.00 Put

Vol: 5,648

OI: 624

Vol/OI: 9.1x

IV: 59.3%

Notional: ~$4.2M

Intent: Bearish hedge

Read-through: Bearish

NOW 2026-05-22 $85.00 Call

Vol: 2,008

OI: 231

Vol/OI: 8.7x

IV: 57.7%

Notional: ~$1.3M

Intent: Bullish weeklies

Read-through: Bullish

NOW 2026-06-05 $110.00 Call

Vol: 1,669

OI: 204

Vol/OI: 8.2x

IV: 62.5%

Notional: ~$134K

Intent: Small bullish bet

Read-through: Bullish

NOW 2026-06-26 $100.00 Call

Vol: 1,157

OI: 162

Vol/OI: 7.1x

IV: 57.5%

Notional: ~$463K

Intent: Bullish medium-term

Read-through: Bullish

Institutional Positioning

Call additions: Long-dated ITM calls (Nov $105) and near-term bullish ($85, $96) – aggressive upside.

Put additions: Long-dated $75 puts and near-term $108/$115 puts – protective hedging.

GEX/DEX consistency: Positive GEX ($6.8M) and DEX (+36.5M) consistent with pinning regime; gamma flip at 70 creates downside risk.

OI clusters: Key OI: $105 Call (Nov), $75 Put (Nov), $100 Call (May 22).

Hedging evidence: Near-term puts with 154-195% IV show active hedging.

Max pain context: Spot ~3.7% below MP; pinning expected toward MP.

Signal vs Noise

~Large long-dated call buys (33x OI ratio) and deep OTM put buys are directional signals, not noise.

~Near-term high-IV puts may reflect hedging noise, not bearish bet.

Key Conclusions

📈Institutions loading long-dated calls (Nov $105) with 33x vol/OI – strong bullish conviction.

⚠️Spot below MP and gamma flip at $70; near-term hedging via high-IV puts warns of downside.

⚖️Positive gamma/dex support pinning, but mixed flow regime calls for caution.

How to Use These Reports

This flow reflects the market close on May 14, 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.