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NFLX

Netflix, Inc.Close $87.66EOD only

Max Pain

$90.00

Next expiry May 15, 2026

Expected Move

±$2.27

2.6% from close

Price Gap

+2.34

Distance to max pain

IV Rank

Low premium

P/C OI

0.75

Slightly call-heavy

Consensus

6.0/10

Consensus signal

Published snapshot: May 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

May 12, 2026 close

NFLX Flow Report

Analysis based on market close May 13, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 VIX 18

Watch next session: NFLX 2026-05-15 $88.00 Call; Put OI at 73 strike

Flow Summary

Net premium: +$10.3M bullish

P/C volume ratio: 0.61

P/C OI ratio: 0.74

Interpretation: Call volume strong, net premium positive, low P/C ratios. GEX near 73 supports spot. Unusual prints suggest aggressive call buying. DEX positive indicates upside momentum.

Notable Prints

NFLX 2027-01-15 $66.00 Call

Vol: 676

OI: 195

Vol/OI: 3.5x

IV: 50.3%

Notional: ~$1.8M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

NFLX 2027-01-15 $68.00 Call

Vol: 1,017

OI: 331

Vol/OI: 3.1x

IV: 52.9%

Notional: ~$2.5M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

NFLX 2026-12-18 $76.00 Call

Vol: 1,014

OI: 323

Vol/OI: 3.1x

IV: 47.5%

Notional: ~$1.8M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

NFLX 2026-12-18 $81.00 Put

Vol: 3,591

OI: 1,305

Vol/OI: 2.8x

IV: 35.8%

Notional: ~$2.1M

Intent: Hedge

Dual read: Bearish

Read-through: Protection

NFLX 2026-05-15 $88.00 Call

Vol: 30,004

OI: 11,528

Vol/OI: 2.6x

IV: 31.0%

Notional: ~$2.3M

Intent: Bullish

Read-through: Near-term run

Institutional Positioning

Call additions: Far-dated Jan '27 $66-68 calls added (676-1017 vol); Dec '26 $76 call; near-term $88-89 calls (30K/23K vol).

Put additions: Dec '26 $81 put added (3591 vol) suggests hedging.

GEX/DEX consistency: GEX +$54.9M (positive) and DEX +137M shares (bullish) consistent with call flow.

OI clusters: Largest OI: $89 call (12,825), $88 call (11,528) near expiring; put OI concentrated at $73.

Hedging evidence: Dec '26 $81 put hedge for downside protection.

Max pain context: Spot below max pain, pinning gamma resistance above near $88-89.

Signal vs Noise

~Heavy long-dated call accumulation is real bullish positioning.

~Near-term call volume (5/15 expiry) may be noise from gamma scalping.

~Dec '26 $81 put addition is significant hedging signal.

Key Conclusions

📈Institutions are aggressively accumulating OTM calls for Jan '27, signaling long-term bullish conviction.

🛡️Large $81 put hedge added for Dec '26 provides downside protection amid bullish bias.

How to Use These Reports

This flow reflects the market close on May 13, 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.