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NOW

ServiceNow, Inc.Close $139.82EOD only

Max Pain

$123.00

Next expiry Sep 18, 2026

Expected Move

±$5.04

3.6% from close

Price Gap

-16.82

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.90

Slightly call-heavy

Consensus

5.5/10

Neutral tilt

Published snapshot: Sep 16, 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

Sep 16, 2026 close

NOW Theta Report

Analysis based on market close June 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 June 17, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Confidence:

6.5 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 9.1% from MP; +0.5 VIX 18

IV Environment

IV Regime

High

IV vs VIX

IV 78% vs VIX 18.4, extremely elevated

Favorable?

Yes

Term structure: Front-month skew extreme: call IV 183% vs put 130%; other tenors 55-65%

⚠️Front-month skew extreme: call IV 183% vs put 130%

📉Dealer short gamma (-$9.5M GEX) increases spot instability

🎯Spot $95.57 below max pain $105 (9.1% below)

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-9.5M)

Gamma flip: ~$70.00 — Approx — based on put OI concentration of 13,261 (26.7% below spot)

OI concentrations: Max pain $105 (Jun18), $103 (Jun26); call wall $110-$120, put floor $60-$75

Verdict: Spot below max pain, pin risk to upside but guarded by call wall $110

Premium Opportunities

Put credit spread

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

Sells premium at elevated IV, backed by support and call wall capping upside risk.

Credit: $1.67-$2.04

Max loss: $2.96

BE: $87.96

Mgmt: Monitor for breach of $92 support; consider early close if stock drops.

Call calendar

Sell 2026-07-24 $100.00 call / buy 2026-08-21 $100.00 call

Benefits from front-month IV inflation vs back-month; net debit with positive theta.

Debit: $3.24-$3.96

Max loss: $3.96

BE: Path-dependent

Mgmt: Monitor IV and stock price near earnings; roll or close if short leg tested. Liquidity warning: Liquidity constraints: short_call: Wide spread (56%).

Risk Alerts

!High IV skew may distort pricing

!Short gamma regime can accelerate moves

!Consider earnings risk given front-month extreme skew

How to Use These Reports

This theta reflects the market close on June 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.