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NOW

ServiceNow, Inc.Close $99.69EOD only

Max Pain

$95.00

Next expiry May 22, 2026

Expected Move

±$3.17

3.2% from close

Price Gap

-4.69

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.75

Slightly call-heavy

Consensus

5.5/10

Range bias

Published snapshot: May 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

May 21, 2026 close

NOW Flow Report

Analysis based on market close May 21, 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 4.9% from MP; +1 VIX 17

Watch next session: $100 weekly pin; $92 gamma flip; net premium direction

Flow Summary

Net premium: -$4.1M bearish

P/C volume ratio: 0.40

P/C OI ratio: 0.75

Mixed flow with positive GEX pinning near $100, but net premium negative and heavy call selling. Large weekly call volume suggests positioning for pin, while deep OTM puts indicate downside hedging. VIX moderate, spot above MP, regime mixed. Neutral bias with focus on $100 pin and gamma flip at $92.

Notable Prints

NOW 2026-06-18 $220.00 Put

Vol: 500

OI: 160

Vol/OI: 3.1x

IV: 175.0%

Notional: ~$6.0M

Intent: Speculative put

Dual read: Volatility bet

Read-through: Deep OTM high IV, expects large drop

NOW 2026-09-18 $135.00 Call

Vol: 1,649

OI: 603

Vol/OI: 2.7x

IV: 63.3%

Notional: ~$759K

Intent: Long-term bullish

Read-through: Long-dated OTM call, low premium

NOW 2026-05-22 $100.00 Call

Vol: 9,889

OI: 3,763

Vol/OI: 2.6x

IV: 53.4%

Notional: ~$1.4M

Intent: Bullish momentum

Dual read: Gamma scalping

Read-through: ATM call high volume suggests pinning

NOW 2026-05-22 $97.00 Put

Vol: 2,682

OI: 1,018

Vol/OI: 2.6x

IV: 55.0%

Notional: ~$174K

Intent: Downside protection

Read-through: Weekly put 3% OTM

NOW 2026-05-22 $102.00 Call

Vol: 5,902

OI: 2,399

Vol/OI: 2.5x

IV: 55.6%

Notional: ~$443K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Major call buying at $100-$102 weekly and Sep $135 call

Put additions: Heavy put buying at $96-$97 weekly and Jun deep OTM puts ($174-$220)

GEX/DEX consistency: Consistent: both positive, supporting pinning to $100 area

OI clusters: Largest OI at $100 call (3,763) and $100 put (2,748) for May 22

Hedging evidence: Deep OTM Jun puts (IV >100%) suggest tail risk hedges

Max pain context: Max pain ~$95; spot above (~$100), gamma pinning near $100

Signal vs Noise

~High IV on Jun puts likely noise (low liquidity)

~Weekly $100 call volume spike is signal of bullish positioning

~Far OTM put buying may be noise (small OI)

Key Conclusions

📌Max pain pinning near $100 with positive gamma

⚠️Deep OTM put buying signals downside hedging

🚀Call volume surge suggests bullish momentum

How to Use These Reports

This flow reflects the market close on May 21, 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.