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NFLX

Netflix, Inc.Close $89.33EOD only
Max Pain
$89.00
Next expiry May 22, 2026
Expected Move
±$2.44
2.7% from close
Price Gap
-0.33
Distance to max pain
IV Rank
13
Low premium
P/C OI
0.78
Slightly call-heavy
Consensus
8.0/10
Bullish tilt
Published snapshot: May 19, 2026 close
End-of-day snapshot

This page reflects NFLX options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
May 19, 2026 close
NFLX Earnings Report
Analysis based on market close May 19, 2026
DirectionalTheta GangFlowEarningsConsensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Earnings Verdict

NFLX 58 days from earnings; flow bullish with heavy call buying near term, but IV low and event risk distant.

Confidence:
9 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.4% from MP; +0.5 VIX 18
Most important: Heavy call accumulation at $91/$92 for 5/22 expiry suggests near-term bullish tilt.
📈Massive call volume at $91/$92 strikes for 5/22 expiry indicates bullish near-term sentiment.
⚠️Unusual put activity at $114 strike with IV 84% suggests tail-hedging or bearish speculation.

Regime Classification

Vol Regime
Normal
Gamma Regime
Pinning
Flow Regime
Bullish
Spot vs MP
At
Gamma flip: ~$75.00 — Approx — based on put OI concentration of 48,561 (16.0% below spot)

Earnings Overview

Next earnings: 2026-07-16 (58 days)explicit

Expected moves:

  • 2026-05-22 (3d): ±$2.44 (2.7%)
  • 2026-05-29 (10d): ±$3.80 (4.3%)
  • 2026-06-05 (17d): ±$4.95 (5.5%)

IV Setup

Term structure: Front-month IV ~33%, back-month ~38%, contango typical.

Crush estimate: Minimal crush; earnings 58 days out.

Skew: Put skew elevated at far OTM strikes (114 put IV 84%).

Historical Context

Beat rate: 60% (3/5 quarters)

Avg move vs expected: N/A (58d out).

Directional bias: Neutral; beat rate 60% but not near event.

Key Levels

1$75.00 gamma flip
2EM guardrails: 2d $86.89/$91.77; 1w $85.53/$93.14
3Max pain pins: $89 (2026-05-22); $90 (2026-05-29); $89 (2026-06-05)

Flow Highlights

Heavy call accumulation at $91 and $92 strikes for 5/22 expiry.

Bullish positioning ahead of weekly expiration, driven by positive sentiment.

Strategies

Long Strangle on NFLX
Buy 2026-07-17 $85.00 put + buy $100.00 call
Debit: $4.50-$5.51
Max loss: $5.51
Max gain: Unlimited
BE: 79.49 / 105.51
Trigger: Close if IV drops below 30% or adjust near earnings.
Only eligible candidate; cheap IV 58 days out with bullish flow.
Outperforms: Buy $85 put and $100 call for Jul 17 expiry, betting on a move beyond range.
Underperforms: Insufficient realized move reduces long-strangle edge.

Risk Assessment

!Gamma pinning near $89-$90 max pain.
!Call OI wall at $100-$125 may cap upside.

What to Watch

?Monitor 5/22 $91 call OI for gamma effects.
?Watch for IV contraction post-expiry.
?Earnings catalyst 58 days away; flow may shift.
How to Use These Reports
This earnings reflects the market close on May 19, 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.