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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 15, 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 May 15, 2026. A newer flow report is available for May 19, 2026.

View latest report

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -0.5 spot 3.3% from MP; +0.5 VIX 18

Watch next session: Monitor $94 support; Track call OI at $93/$94 strikes

Flow Summary

Net premium: +$30.2M bullish

P/C volume ratio: 0.27

P/C OI ratio: 0.74

Aggressive call buying at $93/$94 strikes amid sector weakness signals bullish conviction. Low put/call ratio, positive GEX, and net premium support further upside. Next session likely to test $95 if market stabilizes.

Notable Prints

NOW 2026-06-05 $60.00 Put

Vol: 15,015

OI: 344

Vol/OI: 43.6x

IV: 88.5%

Notional: ~$150K

Intent: Hedging downside risk

Dual read: Speculative long put on extreme event

Read-through: Bearish tail hedge; low cost for large drop protection

NOW 2026-06-12 $78.00 Put

Vol: 900

OI: 113

Vol/OI: 8.0x

IV: 58.1%

Notional: ~$72K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

NOW 2026-05-22 $93.00 Put

Vol: 955

OI: 138

Vol/OI: 6.9x

IV: 54.9%

Notional: ~$196K

Intent: Bearish bet on pullback

Dual read: Short-term hedge

Read-through: Expects decline to $93 by May 22

NOW 2026-05-22 $96.00 Call

Vol: 3,147

OI: 485

Vol/OI: 6.5x

IV: 57.1%

Notional: ~$881K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

NOW 2026-05-22 $110.00 Call

Vol: 4,419

OI: 787

Vol/OI: 5.6x

IV: 64.8%

Notional: ~$115K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Heavy call buying at 93-97 strikes for near-term (5/15) and 110C for 5/22, indicating bullish sentiment.

Put additions: Notable put buying at 60 and 78 strikes, likely downside hedging rather than directional bearish.

GEX/DEX consistency: GEX +$91.2M positive, DEX +39.2M shares long, consistent with bullish flow and pinning.

OI clusters: Largest OI near 93-97 calls and 60 puts, with high volume at 94C and 93P.

Hedging evidence: Puts at 60 and 78 suggest tail risk hedging; also 93P volume spike.

Max pain context: Spot above MP; GEX pinning likely near 93-97, with gamma flip at 70 as support.

Signal vs Noise

~Signal: Heavy call volume at 93-97, consistent with bullish flow and positive GEX/DEX.

~Noise: Small put prints at 70, 78, 93 may be retail adjustments.

Key Conclusions

📈Bullish call buildup at 93-97 strikes shows institutional confidence near term.

🛡️Put activity at 60 strike is tail hedging, not bearish bet.

📍GEX +$91M and pinning regime support spot above 93.

How to Use These Reports

This flow reflects the market close on May 15, 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.