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NFLX

Netflix, Inc.Close $81.41EOD only
Max Pain
$84.00
Next expiry Jun 12, 2026
Expected Move
±$2.10
2.6% from close
Price Gap
+2.59
Distance to max pain
IV Rank
53
Middle-high premium
P/C OI
0.81
Slightly call-heavy
Consensus
7.0/10
Bearish tilt
Published snapshot: Jun 9, 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
Jun 9, 2026 close
NFLX Earnings Report
Analysis based on market close June 9, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

NFLX earnings 37 days out. Bearish flow skew with put buying; market context negative. IV elevated, crush expected. Long setup with downside risk.

Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; -0.5 spot 3.1% from MP; +0.5 VIX 20
Most important: Put OI concentration and negative gamma below $78, combined with negative macro, suggest downside vulnerability.
⚠️Put OI wall at $73-$75 supports, but $78 gamma flip is immediate risk.

Regime Classification

Vol Regime
High
Gamma Regime
Trending
Flow Regime
Mixed
Spot vs MP
Below
Gamma flip: ~$75.00 — Approx — based on put OI concentration of 67,483 (7.9% below spot)

Earnings Overview

Next earnings: 2026-07-16 (37 days)explicit

Expected moves:

  • 2026-06-12 (3d): ±$2.10 (2.6%)
  • 2026-06-18 (9d): ±$3.37 (4.1%)
  • 2026-06-26 (17d): ±$4.41 (5.4%)

IV Setup

Term structure: Front-end elevated; upward sloping to earnings; 2.6% move by 3d, 5.4% by 17d.

Crush estimate: 30-40% reduction post-earnings

Skew: Put skew steep; $109 and $114 puts active.

Historical Context

Beat rate: 60% (3/5 quarters)

Avg move vs expected: Not available

Directional bias: Slight upside bias (60% beat rate) but recent misses weigh.

Key Levels

1$75.00 gamma flip
2EM guardrails: 2d $79.31/$83.52; 1w $78.04/$84.78
3Max pain pins: $84 (2026-06-12); $90 (2026-06-18); $85 (2026-06-26)

Flow Highlights

Large put volume at $109 and $114 (Jun 18) with OTM strikes.

Bearish positioning; hedges or speculative downside.

Call buying at $81, $83, $88; also LEAPS $74 call.

Bullish bets on recovery or long-term growth.

Strategies

Long Strangle
Buy 2026-07-17 $75.00 put + buy $90.00 call
Debit: $2.90-$3.54
Max loss: $3.54
Max gain: Unlimited
BE: 71.46 / 93.54
Trigger: Monitor IV crush; exit before earnings or set stop-loss.
Captures expected move with lower premium than straddle; suits elevated IV environment.
Outperforms: Buy $75 put and $90 call for 7/17, profiting from move beyond strikes.
Underperforms: Insufficient realized move reduces long-strangle edge.
Long Call
Buy 2026-07-17 $90.00 call
Debit: $1.41-$1.73
Max loss: $1.73
Max gain: Unlimited
BE: $91.73
Trigger: Set stop at $77; consider rolling if price moves favorably.
Upside bias given bullish sentiment and implied move suggests room for surprise.
Outperforms: Buy $90 call exp 7/17, benefits from upside surprise.
Underperforms: Failure at support and IV crush weaken long-call thesis.

Risk Assessment

!Downside gamma below $78; put OI at $73-$75 may act as floor but break risk.
!IV crush post-earnings could hurt long vol positions.
!Negative market context (QQQ -1.15%) adds pressure.

What to Watch

?Price action at $85 resistance and $78 support.
?Unusual option activity around earnings date.
?Any analyst rating changes or company news.
How to Use These Reports
This earnings reflects the market close on June 9, 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.