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NOW

ServiceNow, Inc.Close $101.83EOD only

Max Pain

$93.00

Next expiry May 22, 2026

Expected Move

±$6.10

6.0% from close

Price Gap

-8.83

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.74

Slightly call-heavy

Consensus

6.5/10

Bullish tilt

Published snapshot: May 19, 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 19, 2026 close

NOW Theta Report

Analysis based on market close May 19, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

7.5 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 9.5% from MP; +0.5 VIX 18

IV Environment

IV Regime

High

IV vs VIX

Avg IV 68.58% vs VIX 18.06% -> 3.8x, elevated single-stock vol.

Favorable?

Yes

Term structure: Downward sloping; 3-day IV 71.66% declines to ~60% for monthlies; put skew elevated.

📊GEX +$45.1M supports bullish pinning; high IV makes premiums attractive.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+45.1M)

Gamma flip: ~$85.00 — Approx — based on put OI concentration of 11,080 (16.5% below spot)

OI concentrations: Call wall $110-$150, put floor $60-$85; max pain $93 for multiple expirations.

Verdict: Low-to-moderate pin risk; spot above max pain but strong dealer gamma supports near $108.

Premium Opportunities

Put credit spread

Sell 2026-07-17 $100.00/$95.00 put spread

Sell put spread to capture premium with defined risk, 59 DTE avoids near-term vol.

Credit: $2.16-$2.64

Max loss: $2.36

BE: $97.36

Mgmt: Close at 50% max profit or at 21 DTE; stop loss if NOW breaks $93.

Risk Alerts

!High IV (68.58%) relative to VIX (18.06) increases tail risk.

!Near-term IV elevated (71.66% for 3-day expiry); avoid short-dated plays.

!Monitor support at $93; break below could accelerate selling.

How to Use These Reports

This theta reflects the market close on May 19, 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.