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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 15, 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 May 15, 2026. A newer flow report is available for May 19, 2026.

View latest report

Flow Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +0.5 spot 1.1% from MP; +0.5 VIX 18

Watch next session: Monitor call buying continuation and gamma flip defense

Flow Summary

Net premium: +$18.9M bullish

P/C volume ratio: 0.46

P/C OI ratio: 0.73

Aggressive call buying across multiple expirations, positive gamma and delta exposure, bullish flow despite market weakness.

Notable Prints

NFLX 2026-06-18 $92.00 Call

Vol: 21,393

OI: 4,512

Vol/OI: 4.7x

IV: 32.1%

Notional: ~$3.4M

Intent: Bullish directional bet

Read-through: Bullish

NFLX 2026-05-22 $135.00 Call

Vol: 496

OI: 114

Vol/OI: 4.3x

IV: 149.2%

Notional: ~$496

Intent: Speculative lottery

Read-through: Speculative bullish

NFLX 2027-03-19 $20.00 Put

Vol: 11,141

OI: 2,676

Vol/OI: 4.2x

IV: 74.1%

Notional: ~$33K

Intent: Tail hedge

Dual read: Bearish speculation possible

Read-through: Bearish tail risk

NFLX 2026-06-26 $87.00 Call

Vol: 623

OI: 158

Vol/OI: 3.9x

IV: 35.6%

Notional: ~$233K

Intent: Bullish ATM call

Read-through: Bullish

NFLX 2026-05-22 $113.00 Call

Vol: 3,333

OI: 907

Vol/OI: 3.7x

IV: 76.6%

Notional: ~$13K

Intent: Speculative OTM call

Read-through: Bullish hope

Institutional Positioning

Call additions: Calls: $92C 21k vol, $87C 23k vol, $113C 3.3k vol - strong bullish demand.

Put additions: Puts: $20 deep OTM 11k vol, $114 put 1.5k vol - potential hedges.

GEX/DEX consistency: Consistent: DEX +133M sh, GEX +$11.4M, flow bullish.

OI clusters: Largest OI: $87C 7k, $92C 4.5k, $76C 323, $68C 331.

Hedging evidence: Deep OTM $20 put likely hedge for calls; $114 put downside protection.

Max pain context: Spot below MP, gamma pinning may push up; VIX high.

Signal vs Noise

~Heavy call vol/OI ratios >3 - real demand

~Bullish flow aligned with GEX/DEX

~Deep OTM $20 put likely noise/hedge not conviction

~High IV on $135C (149%) - speculative lottery

Key Conclusions

📈Heavy call buying across strikes, net premium $18.9M - bullish.

⚠️VIX 18.4, high vol but flow bullish; caution.

🔒Deep OTM put activity may be hedging, not bearish.

How to Use These Reports

This flow reflects the market close on May 15, 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.