NOW (NOW) options memo

The Read

NOW is down 2.04% today at $124.94.

Options traders lean neutral into 2026-07-24, and neutral further out.

A move through $95.02 would change how dealers hedge this stock.

Key numbers

• Spot: $124.94
• Lean: neutral
• Nearest expiry: Fri 8/28
• Implied move: 3.6%
• ATM implied volatility: 68.8%
• Max pain: $123.00
• Pin strike: $130.00
• Gamma flip: $113.81
• Dealer positioning: SHORT GAMMA
• Call wall: $135.00
• Put wall: $123.00
• Put/call open interest: 0.645