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NOW

ServiceNow, Inc.Close $158.96EOD only

Max Pain

$142.00

Next expiry Oct 30, 2026

Expected Move

±$16.25

10.2% from close

Price Gap

-16.96

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.89

Slightly call-heavy

Consensus

5.5/10

Neutral tilt

Published snapshot: Oct 23, 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

Oct 23, 2026 close

NOW Theta Report

Analysis based on market close June 10, 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 June 10, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Confidence:

4 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -1 spot 7.8% from MP

IV Environment

IV Regime

High

IV vs VIX

IV (avg 76.2%) is significantly above VIX (22.2%), indicating elevated premiums.

Favorable?

Yes

Term structure: Short-term IV inverted (2d 67.8%, 8d 65.2%), then contango; still favorable for premium selling.

📉Spot $94.46 far below max pain $115; bearish drift risk.

📈Dealer GEX +$2.8M positive, supporting pinning near $115.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+2.8M)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 13,148 (29.3% below spot)

OI concentrations: Max pain pins: $115 (6/12), $110 (6/18), $105 (6/26). Put floor $60–$92, call wall $120–$130. EM guardrails 2d $100.86/$111.26.

Verdict: Spot far below max pain; pin risk to upside but downside risk if support $94.46 breaks.

Premium Opportunities

Short strangle

Sell 2026-07-02 $100.00 put + sell $116.00 call

Sells $100 put and $116 call; profits if spot stays within range.

Credit: $6.48-$7.92

Max loss: Unlimited

BE: 92.08 / 123.92

Mgmt: Exit if spot nears strikes.

Put credit spread

Sell 2026-07-02 $100.00/$97.00 put spread

Sells $100/$97 put spread; limited gain and loss.

Credit: $1.08-$1.32

Max loss: $1.68

BE: $98.68

Mgmt: Roll if below $97. Liquidity warning: Liquidity constraints: long_put: Volume below 5.

Risk Alerts

!Spot 7.8% below max pain – bearish drift may persist.

!Short-term IV inversion could lead to volatility crush on expiration.

!Dealer net short premium (-$24.9M) may amplify moves at expiry.

How to Use These Reports

This theta 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.