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NOW

ServiceNow, Inc.Close $105.56EOD only
Max Pain
$99.00
Next expiry Jul 31, 2026
Expected Move
±$6.42
6.1% from close
Price Gap
-6.56
Distance to max pain
IV Rank
17
Low premium
P/C OI
0.81
Slightly call-heavy
Consensus
5.5/10
Neutral tilt
Published snapshot: Jul 27, 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
Jul 27, 2026 close
NOW Theta Report
Analysis based on market close June 11, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 11, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Sell put credit spreads on further expirations
Invalidation: Spot breaks $92.68 or VIX spikes above 25
Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 8.8% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
Avg IV 77.7% vs VIX 19.4; very high
Favorable?
Yes

Term structure: ATM IV flat ~60-66%; near-term put skew extreme (229% on 1DTE)

⚠️Near-term put skew suggests elevated tail risk

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-7.8M)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 13,172 (27.2% below spot)

OI concentrations: Max pain $113 (1DTE), $109 (7DTE), $105 (15DTE); put OI at $92.68 support

Verdict: Elevated pin risk for 1DTE; moderate for weekly/monthly

Premium Opportunities

#1
Put credit spread
Sell 2026-08-21 $95.00/$90.00 put spread
Sell 95/90 put spread on 2026-08-21, benefiting from elevated premiums and time decay.
Credit: $1.80-$2.20
Max loss: $2.80
BE: $92.80
Mgmt: Close at 50% max gain or if spot breaches 92.68.
#2
Cash-secured put
Sell 2026-08-21 $90.00 cash-secured put
Sell 90 put on 2026-08-21, collecting high premium with equity-like collateral.
Credit: $5.13-$6.27
Max loss: $83.73
BE: $83.73
Mgmt: Roll if spot approaches 92.68; close at 50% gain.
#3
Call calendar
Sell 2026-07-17 $115.00 call / buy 2026-08-21 $115.00 call
Sell July 115 call, buy August 115 call, exploiting IV term structure.
Debit: $3.65-$4.46
Max loss: $4.46
BE: Path-dependent
Mgmt: Manage if spot moves beyond 115; close at expiration.

Risk Alerts

!High IV with extreme put skew on front expiration
!Spot below max pain; potential pin action
How to Use These Reports
This theta reflects the market close on June 11, 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.