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NOW

ServiceNow, Inc.Close $127.65EOD only

Max Pain

$110.00

Next expiry Jun 5, 2026

Expected Move

±$3.80

3.0% from close

Price Gap

-17.65

Distance to max pain

IV Rank

High premium

P/C OI

0.87

Slightly call-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 2, 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 2, 2026 close

NOW Theta Report

Analysis based on market close April 17, 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 April 17, 2026. A newer theta report is available for May 26, 2026.

View latest report

Theta Verdict

Confidence:

6.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.7% from MP; +1 VIX 17

IV Environment

IV Regime

High

IV vs VIX

Elevated front‑week IV vs VIX with noisy 0d spikes; longer tenors normalize by 5/29

Favorable?

Term structure: Steep near‑term skew and rich 0–7d expiries; term structure flattens after 2–4 weeks

⚠️Near‑term IV high but 0d distortions and pin risk make naked premium selling unfavorable

📌OI cluster at strikes 95/91/85 with gamma flip ~85 (~12% below spot ≈97) — expect pinning into expiries

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+22.4M)

Gamma flip: ~$85.00 — Approx — based on put OI concentration of 10,763 (12.1% below spot)

OI concentrations: Put OI concentrated at 95/91/85; gamma flip area ~85 (~12% below spot ≈97)

Verdict: Pinning risk elevated at 95/91/85. Early‑assignment likelihood: low‑moderate for short puts but rises if deep ITM in last 1–2 days or around dividends. Guidance: avoid naked shorts, prefer defined‑risk spreads, roll/close by 48–72h before expiry to limit assignment and margin spikes; expect higher margin for uncovered positions.

Premium Opportunities

Iron condor

Sell 2026-05-15 $95.00/$92.00 put wing and $100.00/$104.00 call wing

Sell 95/92 put wing and 100/104 call wing 2026-05-15 to collect elevated premium while capping risk.

Credit: $2.52-$3.08

Max loss: $0.92

BE: 91.92 / 103.08

Mgmt: Enter within quoted range; trim/roll or close if price pierces wings or VIX>25; close 48–72h before expiry to limit assignment.

Put credit spread

Sell 2026-05-08 $95.00/$92.00 put spread

Sell 95/92 put spread 2026-05-08 to sell elevated post-earnings premium with defined risk.

Credit: $1.12-$1.38

Max loss: $1.62

BE: $93.62

Mgmt: Target entry per range; avoid if price < $95 or VIX spikes; close/roll 48–72h pre-expiry to reduce assignment risk. Liquidity warning: Liquidity constraints: long_put: Volume below 5.

Risk Alerts

!Sudden gap‑down below $84

!VIX jump >25

!Dealer GEX swings negative or rapid unwind of concentrated OI

!Elevated early‑assignment risk last 48–72h

!Margin requirements spike for uncovered short positions

How to Use These Reports

This theta reflects the market close on April 17, 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.