Home Options NOWReports

NOW

ServiceNow, Inc.Close $137.68EOD only

Max Pain

$136.00

Next expiry Sep 25, 2026

Expected Move

±$6.72

4.9% from close

Price Gap

-1.68

Distance to max pain

IV Rank

Low premium

P/C OI

0.87

Slightly call-heavy

Consensus

5.5/10

Neutral tilt

Published snapshot: Sep 21, 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 21, 2026 close

NOW Theta Report

Analysis based on market close June 23, 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 23, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Confidence:

5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 4.1% from MP; +0.5 VIX 19

IV Environment

IV Regime

High

IV vs VIX

Avg IV 72.6% vs VIX 19.5, extremely elevated

Favorable?

Yes

Term structure: Near-term decline then rise; front-end backwardation due to event risk

⚡IV elevated across all expirations, historical volatility likely high

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+351K)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 13,483 (21.8% below spot)

OI concentrations: Put floor $60-$85 (13.5K OI), call wall $120, max pain pins $100/$102/$108

Verdict: High pin risk near $100-$108; gamma flip at $75 acts as downside guardrail

Premium Opportunities

Iron condor

Sell 2026-07-24 $90.00/$87.00 put wing and $100.00/$105.00 call wing

Sell $90 put and $100 call wings for range-bound profit

Credit: $2.32-$2.83

Max loss: $2.17

BE: 87.17 / 102.83

Mgmt: Close near expiration; adjust if spot nears wings

Put credit spread

Sell 2026-07-24 $90.00/$87.00 put spread

Sell $90/$87 put spread for downside protection

Credit: $0.97-$1.18

Max loss: $1.82

BE: $88.82

Mgmt: Exit if spot falls below $90; invalidation $86.49

Risk Alerts

!Spot 4.1% from max pain, pinning pressure

!Negative dealer net premium ($-7.5M) indicates bearish positioning

!Near-term IV at 58-59% vs longer-term 62%+ suggests event skew

How to Use These Reports

This theta reflects the market close on June 23, 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.