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NOW

ServiceNow, Inc.Close $137.00EOD only

Max Pain

$136.00

Next expiry Sep 25, 2026

Expected Move

±$5.83

4.3% from close

Price Gap

-1.00

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 22, 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 22, 2026 close

NOW Theta Report

Analysis based on market close June 24, 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 24, 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 6.2% from MP; +0.5 VIX 19

IV Environment

IV Regime

High

IV vs VIX

IV 72% vs VIX 18.6 - extremely elevated

Favorable?

Term structure: Front-end IV ~55%, but put skew >100% at 2d; back-month ~62%

⚠️Put IV 107% at 2-day expiration signals extreme fear

📉GEX -$4.6M negative dealer gamma amplifies moves

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-4.6M)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 13,481 (20.0% below spot)

OI concentrations: Max pain pinned at $100, $101, $106; heavy put OI (13.5k) 20% below spot

Verdict: Elevated pin risk near $100-$101; potential magnet effect from max pain

Premium Opportunities

Call calendar

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

Sells high IV front-month, buys lower IV back-month.

Debit: $1.75-$2.14

Max loss: $2.14

BE: Path-dependent

Mgmt: Exit if spot breaks 85 or 103.

Call diagonal

Sell 2026-07-24 $103.00 call / buy 2026-08-21 $100.00 call

Sells OTM front-month, buys ATM back-month for positive theta.

Debit: $2.92-$3.57

Max loss: $3.57

BE: Path-dependent

Mgmt: Roll if spot nears 103 or drops below 85.

Risk Alerts

!Extreme near-term put skew

!Negative gamma positioning

!Spot 6.2% below max pain

How to Use These Reports

This theta reflects the market close on June 24, 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.