Home Options NOWReports

NOW

ServiceNow, Inc.Close $102.15EOD only

Max Pain

$108.00

Next expiry Jun 18, 2026

Expected Move

±$6.43

6.3% from close

Price Gap

+5.85

Distance to max pain

IV Rank

High premium

P/C OI

0.82

Slightly call-heavy

Consensus

6.5/10

Bearish tilt

Published snapshot: Jun 12, 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 12, 2026 close

NOW Theta Report

Analysis based on market close June 12, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 5.4% from MP; +1 VIX 18

IV Environment

IV Regime

High

IV vs VIX

Avg IV ~80% vs VIX 17.7, extremely elevated

Favorable?

Yes

Term structure: Inverted near term; 0dte IV low, 6dte+ IV spike. Higher vols in close expirations.

📈IV much higher than VIX; term structure inverted near term.

⚠️Negative dealer gamma (-$34.2M) amplifies volatility.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-34.2M)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 13,221 (26.6% below spot)

OI concentrations: Put OI heavy below spot, call wall $120-$150; max pain $108.

Verdict: Moderate pin risk – spot 5% below max pain, dealers short gamma.

Premium Opportunities

Short strangle

Sell 2026-07-24 $85.00 put + sell $130.00 call

Sell OTM put and call to collect elevated premium ahead of earnings.

Credit: $4.37-$5.34

Max loss: Unlimited

BE: 79.66 / 135.34

Mgmt: Close at 50% max gain or before earnings; roll untested side.

Put credit spread

Sell 2026-07-24 $90.00/$85.00 put spread

Sell put spread below support, defined risk, collects premium.

Credit: $0.76-$0.93

Max loss: $4.07

BE: $89.07

Mgmt: Close at 50% max gain; defend if spot nears short strike.

Iron condor

Sell 2026-07-24 $95.00/$85.00 put wing and $119.00/$130.00 call wing

Sell both wings, profits from range-bound move post-earnings.

Credit: $3.65-$4.46

Max loss: $6.54

BE: 90.54 / 123.46

Mgmt: Close at 50% gain; adjust wings if spot moves near strikes. Liquidity warning: Liquidity constraints: short_call: Open interest below 25.

Risk Alerts

!High IV suggests large move expectations

!Dealer short gamma increases volatility risk

!Spot 5% below max pain

How to Use These Reports

This theta reflects the market close on June 12, 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.