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NFLX

Netflix, Inc.Close $72.88EOD only

Max Pain

$80.00

Next expiry Jun 26, 2026

Expected Move

±$2.46

3.4% from close

Price Gap

+7.12

Distance to max pain

IV Rank

Low premium

P/C OI

0.83

Slightly call-heavy

Consensus

7.0/10

Bullish tilt

Published snapshot: Jun 22, 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 22, 2026 close

NFLX Flow Report

Analysis based on market close June 23, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; -0.5 spot 4.2% from MP; +0.5 VIX 19

Watch next session: 70 level; VIX above 20; Put OI

Flow Summary

Net premium: -$80.5M bearish

P/C volume ratio: 1.03

P/C OI ratio: 0.80

Aggressive put buying on deep OTM strikes, negative premium, short gamma. Bearish bias despite some call activity.

Notable Prints

NFLX 2027-01-15 $65.00 Put

Vol: 55,059

OI: 4,462

Vol/OI: 12.3x

IV: 37.3%

Notional: ~$24.0M

Intent: Bearish speculation or tail hedge

Read-through: Deep OTM put, high volume vs OI

NFLX 2026-08-21 $74.00 Call

Vol: 4,425

OI: 366

Vol/OI: 12.1x

IV: 42.3%

Notional: ~$2.0M

Intent: Bullish directional bet

Read-through: OTM call, high vol/oi, bullish

NFLX 2027-01-15 $64.00 Put

Vol: 9,408

OI: 1,264

Vol/OI: 7.4x

IV: 38.3%

Notional: ~$3.8M

Intent: Bearish speculation or tail hedge

Read-through: Deep OTM put, repeat of $65 put

NFLX 2026-07-02 $74.00 Call

Vol: 2,084

OI: 863

Vol/OI: 2.4x

IV: 33.1%

Notional: ~$233K

Intent: Bullish on near-term move

Read-through: Moderate OTM call, early July expiry

NFLX 2026-06-26 $72.00 Put

Vol: 8,573

OI: 3,709

Vol/OI: 2.3x

IV: 33.7%

Notional: ~$532K

Intent: Bearish directional or hedge

Dual read: If spot near $72, could be collar

Read-through: Weekly put, high volume, near expiry

Institutional Positioning

Call additions: Calls added at $74 (Aug/Jul 2026) and $73 (June 2026).

Put additions: Heavy put buying at $65/$64 (Jan 2027) and $72P (June 26).

GEX/DEX consistency: GEX negative, DEX positive; dealers short gamma long delta – mixed flow.

OI clusters: Largest OI: $65P (4462), $73C (3632).

Hedging evidence: Large put volumes indicate hedging or bearish bets.

Max pain context: Spot below MP; pinning to ~$72-73 likely.

Signal vs Noise

~Large Jan 2027 $65/$64 put vol (12x OI) is strong bearish signal.

~Moderate call vol at $74 (2-4x OI) is a bullish signal.

~Low vol/OI prints under 2x are noise.

Key Conclusions

🐻Massive put buying at deep OTM $65/$64 for Jan 2027 signals bearish expectation.

⚠️Negative gamma and high VIX (19.5) suggest increased volatility risk.

📊Mixed flow with both call and put accumulation; net negative premium.

How to Use These Reports

This flow reflects the market close on June 23, 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.