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NFLX

Netflix, Inc.Close $81.56EOD only

Max Pain

$84.00

Next expiry Jun 5, 2026

Expected Move

±$1.27

1.6% from close

Price Gap

+2.44

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.78

Slightly call-heavy

Consensus

5.5/10

Neutral tilt

Published snapshot: Jun 4, 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

Jun 4, 2026 close

NFLX Flow Report

Analysis based on market close June 4, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 VIX 15

Watch next session: $75.0 gamma flip; $77-$78 put strikes

Flow Summary

Net premium: -$44.7M bearish

P/C volume ratio: 0.53

P/C OI ratio: 0.78

Net premium negative with heavy put activity, GEX negative, and spot below MP suggests bearish outlook; caution on low put/call volume ratio but unusual prints and gamma flip at $75 support bearish.

Notable Prints

NFLX 2026-06-18 $106.00 Put

Vol: 1,913

OI: 282

Vol/OI: 6.8x

IV: 83.4%

Notional: ~$3.8M

Intent: Bearish

Read-through: Drop

NFLX 2026-06-18 $114.00 Put

Vol: 2,542

OI: 462

Vol/OI: 5.5x

IV: 60.2%

Notional: ~$8.1M

Intent: Bearish

Read-through: Drop

NFLX 2026-07-17 $60.00 Put

Vol: 7,126

OI: 1,466

Vol/OI: 4.9x

IV: 48.6%

Notional: ~$114K

Intent: Speculative

Read-through: TailRisk

NFLX 2026-06-18 $110.00 Put

Vol: 5,304

OI: 1,201

Vol/OI: 4.4x

IV: 66.8%

Notional: ~$14.9M

Intent: Bearish

Read-through: Drop

NFLX 2026-07-10 $77.00 Put

Vol: 552

OI: 126

Vol/OI: 4.4x

IV: 30.7%

Notional: ~$73K

Intent: Hedge

Read-through: Protection

Institutional Positioning

Call additions: Calls at $83 (0DTE), $74 (Sept), $84 (July) - speculative.

Put additions: Puts at $106, $114, $110, $77, $81, $60 - bearish bets or hedges.

GEX/DEX consistency: Consistent: put-heavy GEX (-$43.8M), positive DEX (+133M).

OI clusters: Put OI cluster ~8% below spot; gamma flip near $75.

Hedging evidence: High-strike puts (106, 114) suggest institutional tail hedges.

Max pain context: Spot below max pain; potential pin to MP.

Signal vs Noise

~Aggressive put buying across strikes is real signal of bearish sentiment.

~Massive 0DTE call at $83 is likely noise from speculative day trading.

~Deep OTM put at $60 may be noise or a tail hedge.

Key Conclusions

🐻Institutions add puts aggressively across expirations - bearish bias confirmed.

⚠️Spot below max pain with negative gamma - potential for acceleration.

📊Dealer long gamma (DEX +133M) may dampen volatility near term.

How to Use These Reports

This flow reflects the market close on June 4, 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.