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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 Theta Report

Analysis based on market close May 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); +1 spot 0.4% from MP; +1 VIX 17

IV Environment

IV Regime

Normal

IV vs VIX

Avg IV 48% vs VIX 16.7; IV premium elevated

Favorable?

Yes

Term structure: Near-term IV low but rising; put IV spike to 118% at Jun 18 expiry suggests event risk

⚠️Put IV spikes to 118% at Jun 18 expiry; potential event risk

Pin Risk Assessment

Spot vs MP: At

GEX regime: Pinning ($+118.1M)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 59,411 (15.3% below spot)

OI concentrations: Put OI 59K at $75 (15.3% below spot); call wall $100-$125

Verdict: Low - spot at max pain $89 with positive GEX reduces pin risk

Premium Opportunities

Put credit spread

Sell 2026-06-12 $86.00/$83.00 put spread

Sell $86 put, buy $83 put for credit.

Credit: $0.69-$0.84

Max loss: $2.16

BE: $85.16

Mgmt: Close at 50% profit or if spot breaks $84.63.

Cash-secured put

Sell 2026-06-12 $85.00 cash-secured put

Sell $85 put for premium.

Credit: $0.90-$1.10

Max loss: $83.90

BE: $83.90

Mgmt: Roll if tested or close at 50% profit.

Risk Alerts

!Put IV spike on Jun 18 expiry; monitor event risk

!VIX at 16.7 low; watch for volatility expansion

!Max pain at $89; pinning likely but monitor volume

How to Use These Reports

This theta reflects the market close on May 22, 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.