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NFLX

Netflix, Inc.Close $88.60EOD only

Max Pain

$89.00

Next expiry May 29, 2026

Expected Move

±$2.56

2.9% from close

Price Gap

+0.40

Distance to max pain

IV Rank

Middle-high premium

P/C OI

0.78

Slightly call-heavy

Consensus

8.0/10

Bullish tilt

Published snapshot: May 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

May 22, 2026 close

NFLX Theta Report

Analysis based on market close May 26, 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); +0.5 spot 1.5% from MP; +1 VIX 17

IV Environment

IV Regime

Normal

IV vs VIX

ATM IV 29% vs VIX 17; elevated, favorable for sellers

Favorable?

Yes

Term structure: Contango short-term, flat to rising out to 6m; no inversion

📈IV elevated vs VIX; term structure supports premium collection

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Pinning ($+53.5M)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 59,812 (14.5% below spot)

OI concentrations: Max pain $89 across all expiries; put OI 59,812 at 14.5% below spot; dealer GEX +$53.5M

Verdict: High probability of pin to $89; gamma flip at $75

Premium Opportunities

Put credit spread

Sell 2026-06-18 $85.00/$81.00 put spread

Sell $85/$81 put spread to collect premium with limited downside.

Credit: $0.87-$1.06

Max loss: $2.94

BE: $83.94

Mgmt: Close at 50% max gain or if NFLX breaks below $82.88.

Cash-secured put

Sell 2026-06-18 $83.00 cash-secured put

Sell $83 put to earn elevated IV premium with cash collateral.

Credit: $0.85-$1.04

Max loss: $81.96

BE: $81.96

Mgmt: Roll if momentum shifts; close at 50% profit or hold to expiration.

Risk Alerts

!Short-dated IV high; watch for earnings or event risk

!Gamma flip at $75 if spot declines

!Call wall $100-$125 caps upside beyond pin

How to Use These Reports

This theta reflects the market close on May 26, 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.