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NOW

ServiceNow, Inc.Close $111.23EOD only

Max Pain

$101.00

Next expiry Aug 7, 2026

Expected Move

±$7.32

6.6% from close

Price Gap

-10.23

Distance to max pain

IV Rank

Low premium

P/C OI

0.84

Slightly call-heavy

Consensus

5.5/10

Neutral tilt

Published snapshot: Jul 31, 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 31, 2026 close

NOW Theta Report

Analysis based on market close June 18, 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 18, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 8.6% from MP; +1 VIX 16

IV Environment

IV Regime

High

IV vs VIX

IV at 82.6% vs VIX 16.4, extreme premium

Favorable?

Yes

Term structure: Near-term elevated, backwardation from 0 DTE

⚡Near-term IV skew extreme

💰High premiums but dealer short gamma

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-20.6M)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 13,407 (21.1% below spot)

OI concentrations: Max pain $104, call wall $110-$120, put floor $60-$75

Verdict: Moderate pin risk; large OI at $104

Premium Opportunities

Put credit spread

Sell 2026-07-17 $95.00/$90.00 put spread

Sell $95/$90 put spread, capturing elevated premium with limited downside.

Credit: $2.03-$2.48

Max loss: $2.52

BE: $92.52

Mgmt: Enter at mid of $2.03-$2.48; close at 50% profit or if price breaks below $86.94 invalidation.

Risk Alerts

!Dealer short gamma (-$20.6M)

!Spot 8.6% below max pain

!High near-term volatility

How to Use These Reports

This theta reflects the market close on June 18, 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.