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NFLX

Netflix, Inc.Close $89.30EOD only

Max Pain

$89.00

Next expiry May 22, 2026

Expected Move

±$1.29

1.4% from close

Price Gap

-0.30

Distance to max pain

IV Rank

Low premium

P/C OI

0.79

Slightly call-heavy

Consensus

8.5/10

Bullish tilt

Published snapshot: May 21, 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 21, 2026 close

NFLX Flow Report

Analysis based on market close May 21, 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 spot 0.3% from MP; +1 VIX 17

Watch next session: Monitor $90 call activity; Watch for put accumulation

Flow Summary

Net premium: +$26.9M bullish

P/C volume ratio: 0.45

P/C OI ratio: 0.79

NFLX sees aggressive call buying and low VIX. Unusual prints highlight large call volume at $89-$92 strikes. Regime is bullish with pinning gamma. Net premium $26.9M supports upside. Invalidation is a break below 75.

Notable Prints

NFLX 2026-06-26 $88.00 Put

Vol: 2,074

OI: 203

Vol/OI: 10.2x

IV: 28.9%

Notional: ~$502K

Intent: Aggressive put buying or covering

Dual read: Hedging or bearish bet

Read-through: Downside risk

NFLX 2026-05-29 $90.00 Call

Vol: 27,920

OI: 6,514

Vol/OI: 4.3x

IV: 27.5%

Notional: ~$3.4M

Intent: Bullish call buying

Dual read: Possibly short covering

Read-through: Upward movement

NFLX 2026-06-05 $93.00 Call

Vol: 4,131

OI: 1,349

Vol/OI: 3.1x

IV: 29.8%

Notional: ~$355K

Intent: Bullish speculation

Read-through: Continued strength

NFLX 2026-05-22 $87.00 Put

Vol: 15,523

OI: 5,224

Vol/OI: 3.0x

IV: 25.2%

Notional: ~$93K

Intent: Small put buying for protection

Dual read: May be closing

Read-through: Limited downside concern

NFLX 2026-05-22 $89.00 Call

Vol: 32,383

OI: 12,491

Vol/OI: 2.6x

IV: 26.2%

Notional: ~$2.7M

Intent: Bullish call buying

Read-through: Near-term bullish

Institutional Positioning

Call additions: Heavy call buying at $89-92 strikes for 5/22 and 5/29.

Put additions: Modest put adds at $87P 5/22 and $88P 6/26.

GEX/DEX consistency: Consistent: positive GEX/DEX support bullish flow.

OI clusters: Largest OI: $92C (13.1k), $89C (12.5k), $90C (6.5k) 5/22-5/29.

Hedging evidence: Minimal hedging; small puts.

Max pain context: Spot near MP (~$89); gamma pinning expected.

Signal vs Noise

~Real signal: heavy 5/22 89C/92C call buying.

~Real signal: large 5/29 90C volume, OI increase.

~Noise: 87P 5/22 volume (low prem, likely hedging).

~Signal: 6/26 88P new put OI, modest hedging.

~Noise: 60C 5/29 and 74C 2027 (low vol).

Key Conclusions

📈Call buying dominates: $89-92 strikes, net premium $27M. Bullish.

📌Positive GEX/DEX, spot at MP, pinning to $89.

🛡️Light hedging: small puts only. Market leans long.

How to Use These Reports

This flow reflects the market close on May 21, 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.