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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

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 Flow Report

Analysis based on market close May 19, 2026

Directional Theta Gang Flow Earnings Consensus

Consensus-supported lens with chain history and key metrics in the rail.

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.4% from MP; +0.5 VIX 18

Watch next session: Monitor $91 call OI

Flow Summary

Net premium: +$18.5M bullish

P/C volume ratio: 0.41

P/C OI ratio: 0.78

Aggressive call buying dominates, concentrated in near-term strikes. Positive gamma and net premium signal bullish sentiment despite market weakness.

Notable Prints

NFLX 2026-06-12 $98.00 Call

Vol: 2,335

OI: 262

Vol/OI: 8.9x

IV: 33.4%

Notional: ~$131K

Intent: Bullish speculation on near-term upside

Dual read: Could be short covering

Read-through: Aggressive call buying

NFLX 2026-06-18 $114.00 Put

Vol: 1,480

OI: 482

Vol/OI: 3.1x

IV: 84.3%

Notional: ~$4.2M

Intent: Hedging against downside risk

Dual read: Could be speculative put buying

Read-through: High IV suggests caution

NFLX 2027-01-15 $68.00 Call

Vol: 1,017

OI: 331

Vol/OI: 3.1x

IV: 50.0%

Notional: ~$2.5M

Intent: Long-term bullish bet, deeply ITM

Dual read: Possible hedging or roll

Read-through: Confidence in continued growth

NFLX 2026-05-22 $91.00 Call

Vol: 26,491

OI: 10,162

Vol/OI: 2.6x

IV: 33.5%

Notional: ~$1.6M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

NFLX 2026-05-22 $94.00 Call

Vol: 14,425

OI: 5,891

Vol/OI: 2.5x

IV: 35.9%

Notional: ~$188K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Heavy OTM call buying 5/22 $91-$94, 6/12 $98, 1/15/27 $68

Put additions: Unusual $114 put (IV 84%) and $89 put (vol 7k)

GEX/DEX consistency: Both GEX (+108.2M) and DEX (+128M) positive, consistent with bullish flow

OI clusters: Largest OI: 5/22 $92 call (13,957), $91 call (10,162), $94 call (5,891)

Hedging evidence: Minimal; one large put at $114 may indicate downside hedge

Max pain context: Spot at MP, gamma pinning; MP likely near current levels (~$90-92)

Signal vs Noise

~Call volume/oi ratios >2 on 5/22 strikes signal accumulation.

~Put volume on $114 (IV 84%) is unusual but isolated; likely noise.

~Low put/call ratio (0.41) confirms bullish flow.

Key Conclusions

📈Call accumulation across multiple expiries suggests institutional bullish positioning.

⚠️High IV put at $114 could indicate hedge but not followed by collar activity.

How to Use These Reports

This flow 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.