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NFLX

Netflix, Inc.Close $80.34EOD only
Max Pain
$87.00
Next expiry Jun 18, 2026
Expected Move
±$2.50
3.1% from close
Price Gap
+6.66
Distance to max pain
IV Rank
58
Middle-high premium
P/C OI
0.78
Slightly call-heavy
Consensus
7.0/10
Bearish tilt
Published snapshot: Jun 12, 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 12, 2026 close
NFLX Earnings Report
Analysis based on market close June 12, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

NFLX earnings 34d out; IV term upward; beat rate 60%; net bearish premium but near-term call buying bullish.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 VIX 18
Most important: Near-term call buying at $80-$81 vs far-dated put hedging at $67.
📈Near-term call buying surge at $80-$81 suggests short-term bullish bias.
🛡️Aug $67 put buying implies downside protection into summer.
⚠️Conflicting signals: net premium bearish but call flow heavy.

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 68,810 (6.6% below spot)

Earnings Overview

Next earnings: 2026-07-16 (34 days)explicit

Expected moves:

  • 2026-06-18 (6d): ±$2.49 (3.1%)
  • 2026-06-26 (14d): ±$3.65 (4.5%)
  • 2026-07-02 (20d): ±$4.44 (5.5%)

IV Setup

Term structure: Upward sloping: 3.1% 6d, 4.5% 14d, 5.5% 20d.

Crush estimate: Moderate crush expected post-earnings.

Skew: Put floor $73-$75 supports put skew; call wall $90+.

Historical Context

Beat rate: 60% (3/5 quarters)

Avg move vs expected: Not provided; beat rate 60%.

Directional bias: Slight bullish bias from 60% beat rate.

Key Levels

1$75.00 gamma flip
2EM guardrails: 1w $77.84/$82.83
3Max pain pins: $82 (2026-06-12); $87 (2026-06-18); $85 (2026-06-26)

Flow Highlights

Heavy vol/oi on 6/12 & 6/18 $80-$81 calls (ratios 5-9).

Bullish short-term positioning.

Unusual Aug 21 $67 put buying (vol/oi 4.9).

Downside hedge for post-earnings.

Strategies

Call Diagonal
Sell 2026-07-17 $90.00 call / buy 2026-07-24 $85.00 call
Debit: $1.33-$1.62
Max loss: $1.62
Max gain: Variable
BE: Path-dependent
Trigger: Exit if NFLX < $76.68.
Liquidity pass; benefits from IV crush and upside bias via near-term call buying.
Outperforms: Sell Jul17 $90C, buy Jul24 $85C; net debit ~$1.33-$1.62.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Iron Condor
Sell 2026-07-10 $75.00/$71.00 put wing and $85.00/$90.00 call wing
Credit: $1.02-$1.25
Max loss: $3.75
Max gain: $1.25
BE: 73.75 / 86.25
Trigger: Close on breach of $75 or $85. Liquidity warning: Liquidity constraints: long_put: Volume below 5.
Range-bound view with 60% beat rate but no liquidity pass; call wall caps upside.
Outperforms: Sell $75/$71P & $85/$90C; credit ~$1.02-$1.25.
Underperforms: Move outside short strikes invalidates range thesis.

Risk Assessment

!Gamma flip at $75 support.
!Call wall $90-$120 caps upside.
!Net premium -$20M bearish.
!Earnings 34d away; IV expansion risk.

What to Watch

?Earnings 7/16: subscriber & guidance.
?Key levels: $75 flip, $82 resistance.
?Near-term $80 call pin action.
?IV crush magnitude post-earnings.
How to Use These Reports
This earnings reflects the market close on June 12, 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.