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NFLX

Netflix, Inc.Close $71.14EOD only

Max Pain

$73.00

Next expiry Oct 2, 2026

Expected Move

±$2.17

3.0% from close

Price Gap

+1.86

Distance to max pain

IV Rank

Low premium

P/C OI

0.95

Balanced positioning

Consensus

6.5/10

Neutral tilt

Published snapshot: Sep 25, 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

Sep 25, 2026 close

NFLX Theta Report

Analysis based on market close May 14, 2026

Directional Theta Gang Flow Earnings Consensus

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

You are viewing an older report from May 14, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Confidence:

5.5 / 10

base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); -0.5 spot 3.4% from MP; +1 VIX 17

IV Environment

IV Regime

High

IV vs VIX

IV well above VIX; elevated

Favorable?

Yes

Term structure: 1DTE call IV 123% vs put 86%, extreme skew; front-end steeply down, then gradual contango

📊1DTE call IV 123% vs put 86% — extreme call skew

🎯Max pain $90 across weekly expiries — strong pinning

📈Positive GEX $+226K supports pinning

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+226K)

Gamma flip: ~$73.00 — Approx — based on put OI concentration of 48,292 (16.0% below spot)

OI concentrations: Put OI 16% below spot; call wall $100-$125; put floor $73-$75

Verdict: Settlement at $90 max pain likely; gamma flip at $73 suggests tail risk if break

Premium Opportunities

Put credit spread

Sell 2026-07-17 $85.00/$80.00 put spread

Sell 85/80 put spread to collect elevated premium with defined risk.

Credit: $1.65-$2.02

Max loss: $2.98

BE: $82.98

Mgmt: Close at 50% profit or if NFLX breaks 82.9.

Iron condor

Sell 2026-06-05 $85.00/$82.00 put wing and $90.00/$92.00 call wing

Sell put and call wings around max pain to profit from range-bound move.

Credit: $1.22-$1.50

Max loss: $1.50

BE: 83.50 / 91.50

Mgmt: Exit if breakout beyond wings or at 50% profit.

Risk Alerts

!Extreme 1DTE skew may indicate hedging or event risk

!High vol regime with pinning can lead to sharp moves

!Net negative dealer premium suggests short gamma positioning

How to Use These Reports

This theta reflects the market close on May 14, 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.