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NOW

ServiceNow, Inc.Close $135.47EOD only

Max Pain

$137.00

Next expiry Sep 25, 2026

Expected Move

±$7.20

5.3% from close

Price Gap

+1.53

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 18, 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 18, 2026 close

NOW Theta Report

Analysis based on market close June 22, 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 22, 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 7.0% from MP; +1 VIX 17

IV Environment

IV Regime

High

IV vs VIX

72.5% vs VIX 17.3; extreme single-stock premium

Favorable?

Yes

Term structure: Near-term backwardated, event premium

⚠️Front-week call IV 97.5% likely event-driven; sell if expecting vol crush

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-8.7M)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 13,483 (19.4% below spot)

OI concentrations: Put OI 13,483 at $75; call wall at $120

Verdict: Spot below max pain ($100) for 6/26; pin risk to $100 area; gamma flip at $75.

Premium Opportunities

Short strangle

Sell 2026-07-17 $85.00 put + sell $100.00 call

Sell $85 put and $100 call to profit from high IV (72.5%) and time decay.

Credit: $4.84-$5.91

Max loss: Unlimited

BE: 79.09 / 105.91

Mgmt: Monitor for break above $100 or below $85; adjust if challenged.

Iron condor

Sell 2026-07-24 $90.00/$85.00 put wing and $100.00/$103.00 call wing

Sell $90/$85 put wing and $100/$103 call wing; net credit 3.19, max loss 1.81.

Credit: $2.61-$3.19

Max loss: $1.81

BE: 86.81 / 103.19

Mgmt: Exit if spot breaks $90 or $100; hold through earnings.

Put credit spread

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

Sell $90/$85 put spread for 2.31 credit; supports below $85.

Credit: $1.89-$2.31

Max loss: $2.69

BE: $87.69

Mgmt: Close if spot falls below $92; take profit at 50%.

Risk Alerts

!Dealer negative gamma (-$8.7M) may amplify moves near expiration

!High front-week IV implies event risk; monitor

How to Use These Reports

This theta reflects the market close on June 22, 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.