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NOW

ServiceNow, Inc.Close $119.36EOD only

Max Pain

$115.00

Next expiry Jun 5, 2026

Expected Move

±$3.80

3.2% from close

Price Gap

-4.36

Distance to max pain

IV Rank

High premium

P/C OI

0.86

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: Jun 4, 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

Jun 4, 2026 close

NOW Flow Report

Analysis based on market close June 5, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 3.1% from MP; +0.5 VIX 22

Watch next session: 110; 112; 108; 115

Flow Summary

Net premium: -$59.0M bearish

P/C volume ratio: 0.92

P/C OI ratio: 0.85

Mixed flow with bearish lean: net premium negative, put buying, but heavy OTM call volume and dealer long gamma (GEX +8.3M) provide support. High VIX and negative macro favor downside, but near-term limited.

Notable Prints

NOW 2026-06-05 $116.00 Call

Vol: 3,881

OI: 240

Vol/OI: 16.2x

IV: 36.9%

Notional: ~$16K

Intent: lottery

Read-through: bull

NOW 2026-06-05 $117.00 Call

Vol: 3,007

OI: 250

Vol/OI: 12.0x

IV: 44.9%

Notional: ~$9K

Intent: lottery

Read-through: bull

NOW 2026-06-05 $111.00 Put

Vol: 3,197

OI: 336

Vol/OI: 9.5x

IV: 35.6%

Notional: ~$3K

Intent: hedge

Dual read: spec

Read-through: bear

NOW 2026-06-12 $111.00 Put

Vol: 1,259

OI: 160

Vol/OI: 7.9x

IV: 65.0%

Notional: ~$438K

Intent: roll

Read-through: bear

NOW 2026-06-05 $113.00 Call

Vol: 1,541

OI: 232

Vol/OI: 6.6x

IV: 9.6%

Notional: ~$23K

Intent: lottery

Read-through: neut

Institutional Positioning

Call additions: Heavy call sweeps at 116-117, 113-114 for weekly; 112 call next week. New longs.

Put additions: Put sweeps at 111 weekly/next week; 108 put next week; long-dated 120 put opened.

GEX/DEX consistency: GEX +8.3M, DEX +45.5M shares positive. Net premium -58.9M mixed. Gamma pinning.

OI clusters: Put OI concentration 13,053 at 92 (gamma flip); small call OI at 116-117.

Hedging evidence: Long-dated 120 put with 62% IV indicates institutional hedge. Weekly put sweeps for protection.

Max pain context: Spot below MP; gamma pinning expected to pull price toward MP. VIX 21.5 supports mean reversion.

Signal vs Noise

~Call sweeps at low strikes with high vol/OI ratio are signal of bullish positioning.

~Put sweeps across expiries and long-dated put are signal of hedging.

~GEX positive and gamma flip at 92 indicate strong put support as signal.

~Net premium negative despite positive GEX is signal of mixed institutional flow.

Key Conclusions

📈Call sweeps at low strikes suggest bullish bet on move toward MP.

🛡️Heavy put hedging and negative net premium indicate downside risk.

⚖️Mixed signals; gamma pinning may consolidate near MP but high VIX adds uncertainty.

How to Use These Reports

This flow reflects the market close on June 5, 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.