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NFLX

Netflix, Inc.Close $86.02EOD only

Max Pain

$87.00

Next expiry Jun 5, 2026

Expected Move

±$2.79

3.2% from close

Price Gap

+0.98

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.78

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: May 29, 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 29, 2026 close

NFLX Flow Report

Analysis based on market close April 17, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from April 17, 2026. A newer flow report is available for May 26, 2026.

View latest report

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.3% from MP; +1 VIX 17

Watch next session: Monitor 4/24/5/8 call expiry prints and OI changes; Track spot vs MP moves and intraday GEX/dex swings; Watch VIX and large put prints

Flow Summary

Net premium: +$87.8M bullish

P/C volume ratio: 0.52

P/C OI ratio: 0.88

Bullish, pinning regime: dealers short gamma supported by large call flow and positive GEX; keep watching expiries and spot/VIX for signs of flip.

Notable Prints

NFLX 2026-05-22 $88.00 Put

Vol: 11,343

OI: 184

Vol/OI: 61.6x

IV: 30.8%

Notional: ~$749K

Intent: protective/long-put buy

Dual read: portfolio hedge vs directional short

Read-through: tail downside protection

NFLX 2026-04-24 $97.00 Call

Vol: 20,526

OI: 381

Vol/OI: 53.9x

IV: 29.8%

Notional: ~$3.8M

Intent: urgent directional call buy

Dual read: gamma play vs speculative long

Read-through: near-term bullish pressure

NFLX 2026-04-24 $98.00 Call

Vol: 30,245

OI: 644

Vol/OI: 47.0x

IV: 29.9%

Notional: ~$4.2M

Intent: directional call buy

Dual read: lot sweep vs spread leg

Read-through: short-dated upside demand

NFLX 2026-04-17 $97.00 Call

Vol: 59,566

OI: 1,682

Vol/OI: 35.4x

IV: 4.7%

Notional: ~$2.1M

Intent: intraday gamma/buying

Dual read: dealer hedge vs speculation

Read-through: very short-term upside squeeze risk

NFLX 2026-05-08 $100.00 Call

Vol: 9,007

OI: 379

Vol/OI: 23.8x

IV: 30.3%

Notional: ~$1.6M

Intent: directional call buy

Dual read: directional vs calendar leg

Read-through: bullish medium-term

Institutional Positioning

Call additions: Short-dated call activity clustered 96–101 for Apr17/Apr24; May calls at 97–100 noted but many prints have low OI behind them.

Put additions: Notable longer-dated put print at May22 $88 indicating tail protection interest; overall put OI skewed ~20–30% below spot in measured strikes.

GEX/DEX consistency: GEX +$18.6M and DEX +141.7M shares are consistent with recent bullish net flow but do not prove sustained dealer pinning—could reflect transient flow or print-driven distortions; confidence: moderate-low.

OI clusters: Largest verified OI: Apr17 $99 ≈2.6k, Apr17 $97 ≈1.7k; many 96–101 prints show single-day prints with OI <500, so some moves are print-driven noise vs true clusters.

Hedging evidence: Mix of short-dated call selling and isolated long-dated put buys suggests partial hedging/collar behavior but evidence is mixed and sized unevenly.

Max pain context: Spot ~0.3% from theoretical MP; gamma regime suggests potential pin risk but causality is uncertain given low-OI prints.

Signal vs Noise

~Signal: concentrated short-dated call flow at 96–101 with verified multi-k OI at select strikes.

~Signal: May22 $88 long-dated put is a clear tail-protection print.

~Noise: numerous intraday high-volume prints with OI <500—likely transient/flow-prints, treat impact as lower confidence.

Key Conclusions

📌Short-dated call selling clustered 96–101 likely biases dealer hedging toward resistance/pin risk, but causation is moderate-low confidence due to some low-OI prints.

🛡️May22 $88 put shows institutional tail-protection demand; overall positioning mixes bullish flow with selective protection.

How to Use These Reports

This flow reflects the market close on April 17, 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.