Today’s model portfolio spans 2 quantitatively-scored trades across our watchlist.
Each position is sized to fit within a $10,000 budget slice. The post below is a deep dive on one of those trades — use the table to explore the others.
Today’s $20,000 Model Portfolio · 2 Trades
| Ticker & Strategy | POP | Max Profit | Contracts | Allocated |
|---|---|---|---|---|
| INTCBear Call Spread↗ | 95% | $1,759 | 23 lots | $9,740 |
| NOWTHIS POSTBear Call Spread | 95% | $2,100 | 24 lots | $9,900 |
| Portfolio Total | $3,860 | 2 trades | $19,640 (+19.7% if max profit) |
Equal-weight sizing: $20,000 split across 2 trades at $10,000 per position. Contracts = floor(position budget ÷ max risk per contract) so each trade stays within its risk envelope. POP = probability of profit at expiration (model-derived). Max Profit = maximum gain if held to expiration and the spread expires at full profit. Click any row to read the full trade analysis.
Company & Market Context
ServiceNow, Inc. (NYSE: NOW) is a leading enterprise software platform in the Technology sector, best known for its cloud-based workflow automation and IT service management solutions. The company commands a large and loyal corporate customer base, and its shares are widely held by both institutional and retail investors. As of September 11, 2026, NOW is trading well below the spread's short strike, and implied volatility has risen to elevated levels — a combination that makes premium-selling strategies particularly attractive from a quantitative standpoint. This environment, identified through systematic options screening and implied volatility regime analysis, places NOW squarely in focus for a defined-risk, income-oriented trade.
Why This Trade Setup
The Bear Call Spread expresses a neutral-to-bearish market view: the position profits as long as NOW remains below the short call strike at expiration. With momentum reading as neutral and implied volatility elevated, options pricing models — including Black-Scholes probability analysis — indicate a high probability that the stock will not rally sufficiently to threaten the spread. The strikes are placed meaningfully above the current underlying price, providing a substantial buffer. This setup carries a composite quantitative score of 0.85 — a score derived from options pricing models and probability analysis — reflecting strong alignment between strike placement, volatility regime, and probability-weighted outcomes. With 21 days to expiration, time decay works in the position's favour from day one. In an illustrative $20,000 two-trade portfolio, this position sizes to 24 contracts, with total allocated capital at risk of $9,900.
Key Risks
- Sharp upside move: A sudden, significant rally in NOW above the short strike would erode the position's value rapidly, with maximum loss capped at the width of the spread minus the credit received.
- Volatility expansion: A spike in implied volatility before expiration can increase the mark-to-market loss even if the stock hasn't breached the short strike.
- Earnings or macro catalysts: Unexpected company-specific news or broad market events within the 21-day window can cause outsized price moves that challenge the position's buffer.
- Early assignment risk: Though limited with European-style index options, short calls on individual equities carry early assignment risk if the position moves deep in-the-money.
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Important Disclaimer: This content is generated automatically for informational and educational purposes only. It does not constitute financial advice, a solicitation, or a recommendation to buy or sell any security. Options trading involves significant risk and may not be suitable for all investors. You may lose more than your initial investment. Past performance does not guarantee future results. Always conduct your own due diligence and consult a qualified financial advisor before making any investment decisions. QuantMint is not a registered investment adviser.