thetaOwl

NOW

ServiceNow, Inc.Close $106.97EOD only
Max Pain
$117.00
Next expiry Jun 12, 2026
Expected Move
±$6.25
5.8% from close
Price Gap
+10.03
Distance to max pain
IV Rank
72
High premium
P/C OI
0.83
Slightly call-heavy
Consensus
4.0/10
Bullish tilt
Published snapshot: Jun 9, 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 9, 2026 close
NOW Flow Report
Analysis based on market close June 10, 2026

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

Flow Verdict

BiasBearish
Confirmation: Sustained pressure below $100 and rising put OI.
Invalidation: Spot climbs above $120 with call volume surge.
Confidence:
4 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -1 spot 7.8% from MP

Watch next session: $100 support; $120 resistance

Flow Summary

Net premium: -$24.9M bearish

P/C volume ratio: 0.49

P/C OI ratio: 0.84

Negative net premium and heavy put buying on high strikes signal bearish sentiment. Positive gamma and pinning action cushion downside. Broad market weakness reinforces bearish bias.

Notable Prints

#1
NOW 2026-06-18 $178.00 Put
Vol: 1,018
OI: 185
Vol/OI: 5.5x
IV: 169.7%
Notional: ~$7.1M
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

#2
NOW 2026-06-12 $109.00 Call
Vol: 926
OI: 193
Vol/OI: 4.8x
IV: 69.3%
Notional: ~$140K
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

#3
NOW 2026-06-12 $110.00 Call
Vol: 4,480
OI: 1,355
Vol/OI: 3.3x
IV: 69.1%
Notional: ~$524K
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

#4
NOW 2026-06-12 $100.00 Put
Vol: 4,167
OI: 1,800
Vol/OI: 2.3x
IV: 69.0%
Notional: ~$250K
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

#5
NOW 2026-06-12 $95.00 Put
Vol: 2,061
OI: 979
Vol/OI: 2.1x
IV: 74.8%
Notional: ~$31K
Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: 109-120C weekly, 135C Oct; heavy 110C/120C

Put additions: 95-108P weekly, 178P OTM; largest 100P

GEX/DEX consistency: Pos GEX & DEX; consistent with hedging bias

OI clusters: Largest: 120C 3.4k, 100P 1.8k, 110C 1.4k

Hedging evidence: Put buying at 100-108 & 178P suggests downside hedge

Max pain context: Spot below MP; gamma pinning suggests upward drift but mixed flow

Signal vs Noise

~Large size on 110C/120C and 100P/95P is signal
~High vol/OI on 178P signals hedging
~Small prints on 109C/114C are noise

Key Conclusions

📉Heavy put flow at 100-108 signals downside protection; bearish skew
📈Call additions at 110-120 and pos GEX support upside pinning
⚠️Mixed flow and net premium negative; wait for catalyst
How to Use These Reports
This flow reflects the market close on June 10, 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.