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NFLX

Netflix, Inc.Close $88.09EOD only

Max Pain

$89.00

Next expiry May 22, 2026

Expected Move

±$1.90

2.1% from close

Price Gap

+0.91

Distance to max pain

IV Rank

Low premium

P/C OI

0.79

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: May 20, 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 20, 2026 close

NFLX Flow Report

Analysis based on market close May 20, 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); +0.5 spot 1.0% from MP; +1 VIX 17

Watch next session: Monitor further call activity and price approaching max pain.

Flow Summary

Net premium: +$1.5M bullish

P/C volume ratio: 0.74

P/C OI ratio: 0.79

Bullish flow, VIX at 17, and pinning gamma support NFLX. Unusual call prints and net premium positive strengthen confidence.

Notable Prints

NFLX 2026-06-18 $114.00 Put

Vol: 1,480

OI: 482

Vol/OI: 3.1x

IV: 72.9%

Notional: ~$4.2M

Intent: Bearish hedge

Dual read: Put spread

Read-through: Downside caution

NFLX 2027-01-15 $68.00 Call

Vol: 1,017

OI: 331

Vol/OI: 3.1x

IV: 51.3%

Notional: ~$2.5M

Intent: Bullish leverage

Dual read: Synthetic long or covered call

Read-through: Strong bullish

NFLX 2026-05-29 $80.00 Call

Vol: 406

OI: 191

Vol/OI: 2.1x

IV: 49.7%

Notional: ~$339K

Intent: Short-term bull

Dual read: Call spread

Read-through: Near-term rally

NFLX 2026-06-26 $88.00 Call

Vol: 460

OI: 261

Vol/OI: 1.8x

IV: 34.9%

Notional: ~$172K

Intent: Moderate bull

Dual read: Vertical

Read-through: Bullish

Institutional Positioning

Call additions: Jan 2027 $68, May $80, June $88 calls added significantly

Put additions: June $114 put added heavily (1480 vol vs 482 OI)

GEX/DEX consistency: GEX +$51.4M, DEX +126.3M shares aligned with bullish flow and gamma pinning

OI clusters: Put OI cluster at ~$64 (48,614 contracts, 14.9% below spot); call OI at $68, $80, $88

Hedging evidence: June $114 put may be tail hedge; long-dated calls show structural demand

Max pain context: Spot below MP, positive GEX suggests drift upward; MP likely near $80-90

Signal vs Noise

~Unusual $114 put volume is noise against dominant bullish call flow

~Large put OI at low strike is real gamma support

~Jan 2027 call buying is significant structural signal

Key Conclusions

📈Bullish call flow dominant with net premium $1.55M and PC ratio 0.74

🛡️Tail hedge at $114 put - risk management not directional bearish

📌Positive gamma pinning spot; MP likely near $80-90 support

How to Use These Reports

This flow reflects the market close on May 20, 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.