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NOWSERVICENOW, INC.

Options Analysis Report•SERVICES-PREPACKAGED SOFTWARE
Market Cap $135.6B|NYSE
● 2026-09-11$131.17
NEUTRAL
Analysis: 2026-09-10 EOD data
1Y -30.1%YTD -11.0%7D -7.1%
89,586
30D
±15.4%
33%

NOW Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

5.7VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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NOW Gamma Walls

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Value

Is IV priced right?

5.2
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 94.4% — elevated vs history

<1.05x

IV/HV 0.90x — IV ≤ HV

Sector Relative≤50%

Sector percentile 80% — above sector median

<1.1x

Front/Back 0.98x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 57.7% — normal range

<80%

Effective IV 66.3% (ATM 57.7% + spread 4.3% + bias) — fair

<3.0%

Total drag 6.44% (spread 4.31% + slippage 2.13%) — high friction

≥5.0

Vega efficiency 33.50 (vega 14.440 / spread 4.31%) — efficient

Sentiment

Bullish or bearish?

6.2
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Moderate signal (Conviction: +4%, Raw: +4%)
|net sentiment| ≥25%

Conviction-weighted: +4% (neutral) — Raw: +4%

≥15%

|OI skew| 4.8% — balanced

Same sign, |vol skew| ≥10%

Vol skew +26.1%, OI skew +4.8% — aligned

≥2/3 conditions

0-DTE 46%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +12%, ATM: +6%, OTM: +2% — neutral (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 34% — bullish vs sector

Activity

Unusual activity?

3.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 0.8x avg — normal

≥15%

Vol/OI 7.3% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change -0.6% (5d) — stable

Sector Relative≥60%

Sector activity percentile 70% — active vs sector

≥30%

Large trade volume 21% — mixed

≥60%

Aggressive execution 31% — patient

≥30

Conviction +4 (bullish) — mixed

Liquidity

Can I trade efficiently?

6.8
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks6/8 checks passed
≤5.0%

Spread 4.3% — acceptable

≥10,000

OI 1,229,567 — deep

≥500

Volume 89,586/day — active

≤$0.50

$0.22 to cross — cheap

≥5 strikes

6 liquid strikes — good coverage

Sector Relative≤40%

Sector spread percentile 80% — much wider than sector

≥100 contracts

Depth 130.3 contracts (bid:66.0 ask:64.3) — adequate

<1.0%

Avg slippage 2.13% — poor

Timing

Is now a good time?

6.7
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks5/9 checks passed
|slope| ≥5%

Slope -1.9% — flat/unclear

<30 or >70

IV percentile 94% — seller opportunity

≥10pts kink

IV kink -1.1pts — no clear event

<0.5 or >2.0

θ/ν ratio 101.12 — favors income trades

≥3 expirations

5 liquid expirations — flexible

≥60% (safe)

caution advised: FOMC in 5d; CPI in 0d (HIGH)

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +4% @ 52% consistency — unclear

≥40 composite score

Score 51 (ITM 20% + inst 21%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls6.0
bullishIV fair, bullish flow
Long Puts5.2
bearishIV fair, bullish flow
Premium Sellers
Cash-Secured Put6.0
bullishIV fair, bullish flow
Covered Call5.1
bearishIV fair, bullish flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Sep 7, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

More on NOW

NOW gamma wallsNOW option chainNOW max painNOW expected moveNOW IV rankNOW put/call ratioNOW options flow