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NFLX

Netflix, Inc.Close $73.81EOD only

Max Pain

$74.00

Next expiry Jul 2, 2026

Expected Move

±$2.54

3.4% from close

Price Gap

+0.19

Distance to max pain

IV Rank

Low premium

P/C OI

0.78

Slightly call-heavy

Consensus

6.5/10

Neutral tilt

Published snapshot: Jun 26, 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 26, 2026 close

NFLX Flow Report

Analysis based on market close June 29, 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 spot 0.3% from MP; +1 VIX 18

Watch next session: $79 call strike activity; $65 gamma flip level

Flow Summary

Net premium: -$63.9M bearish

P/C volume ratio: 0.49

P/C OI ratio: 0.81

Heavy call volume at $79 and $74, with OTM put hedging. Net premium negative but likely protective. Strong market tailwinds and low VIX support bullish bias.

Notable Prints

NFLX 2026-07-10 $64.00 Put

Vol: 4,563

OI: 111

Vol/OI: 41.1x

IV: 43.8%

Notional: ~$27K

Intent: Large bearish bet on near-term drop to $64

Dual read: Could be hedging short stock

Read-through: High short-term bearish sentiment

NFLX 2026-09-18 $111.00 Put

Vol: 2,225

OI: 447

Vol/OI: 5.0x

IV: 73.3%

Notional: ~$8.8M

Intent: Buying ITM puts expecting further decline

Dual read: Possibly closing short put positions

Read-through: Suggests bearish view through September

NFLX 2026-07-10 $67.00 Put

Vol: 1,092

OI: 251

Vol/OI: 4.3x

IV: 36.5%

Notional: ~$15K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

NFLX 2026-08-21 $108.00 Put

Vol: 1,225

OI: 321

Vol/OI: 3.8x

IV: 86.3%

Notional: ~$4.4M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

NFLX 2026-07-02 $101.00 Call

Vol: 699

OI: 200

Vol/OI: 3.5x

IV: 103.1%

Notional: ~$699

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Modest call activity at $79 (7/2) and $74 (7/31) with vol/oi ~3.2-3.4; overall call flow secondary.

Put additions: Heavy put additions at low strikes: $64 (7/10) vol/oi 41.1, $111 (9/18) 5.0, $116 (9/18) 3.0, $108 (8/21) 3.8, $67 (7/10) 4.3.

GEX/DEX consistency: GEX -$898K (short gamma) and DEX +131M shares (long stock hedge) consistent with put buying.

OI clusters: Put OI heavy ~$58-60 (11.9% below spot per gamma flip note); gamma flip at $65 confirms concentration.

Hedging evidence: High vol/oi puts at $64 (7/10), $111 (9/18) suggest tail hedging.

Max pain context: Spot at MP ($73.66) with VIX 18; high vol regime suggests pinning near MP.

Signal vs Noise

~Real signal: $64 put (7/10) 41x OI indicates active hedging; $111, $116 puts (9/18) show distant tail protection.

~Noise: minimal OI calls ($101, $79) and far-dated $140 put with low vol/oi are likely noise.

Key Conclusions

🛡️Heavy put buying at $64 (7/10) with 41x OI suggests institutional hedging, not directional bearish bet.

⚠️Spot at max pain ($73.66) amid high vol and negative GEX; pinning likely ahead of OPEX.

🔍Unusual $111 and $116 puts (9/18) with elevated IV (73-77%) indicate long-term tail risk positioning.

How to Use These Reports

This flow reflects the market close on June 29, 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.