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NOW

ServiceNow, Inc.Close $103.30EOD only

Max Pain

$95.00

Next expiry May 22, 2026

Expected Move

±$4.92

4.8% from close

Price Gap

-8.30

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.72

Slightly call-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: May 20, 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 20, 2026 close

NOW Flow Report

Analysis based on market close May 20, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 8.7% from MP; +1 VIX 17

Watch next session: $103; $105; $110 calls

Flow Summary

Net premium: +$10.4M bullish

P/C volume ratio: 0.51

P/C OI ratio: 0.72

Bullish flow with $+10.4M net premium, low put/call ratios, and +$53.8M GEX. Call buying dominates, especially near $103-$105. Deep OTM put volume likely hedging. Spot above MP and low VIX support further upside.

Notable Prints

NOW 2027-01-15 $92.00 Put

Vol: 11,164

OI: 1,956

Vol/OI: 5.7x

IV: 59.4%

Notional: ~$15.2M

Intent: Bearish hedge

Dual read: Spread component

Read-through: Deep OTM put buying

NOW 2026-05-29 $93.00 Put

Vol: 1,865

OI: 372

Vol/OI: 5.0x

IV: 64.6%

Notional: ~$168K

Intent: Bearish speculation

Read-through: Expiring soon, high vol/OI

NOW 2027-01-15 $70.00 Put

Vol: 11,207

OI: 2,578

Vol/OI: 4.3x

IV: 63.5%

Notional: ~$6.3M

Intent: Bearish put buying

Dual read: Possible roll

Read-through: Heavy volume, far OTM

NOW 2026-06-26 $110.00 Call

Vol: 2,112

OI: 518

Vol/OI: 4.1x

IV: 61.5%

Notional: ~$1.2M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

NOW 2026-05-29 $94.00 Put

Vol: 824

OI: 209

Vol/OI: 3.9x

IV: 64.2%

Notional: ~$89K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: OTM call buying at $105/$103 May 22, $110 June/July

Put additions: Deep OTM puts $92/$70 Jan'27, $93/$94 May 29

GEX/DEX consistency: Bullish – GEX +$53.8M, DEX +39.6M shares aligned

OI clusters: Gamma flip ~$85; put OI 11,060 at 17.7% below spot

Hedging evidence: Large puts suggest downside hedging

Max pain context: Spot above MP; positive pinning likely

Signal vs Noise

~Consistent call volume at $105/$103 – real bull flow

~Deep put buys likely hedging, not bearish signal

Key Conclusions

📈Bullish call accumulation at OTM strikes, strong flow

🛡️Deep put blocks indicate hedging, not bearish

How to Use These Reports

This flow reflects the market close on May 20, 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.