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NFLX

Netflix, Inc.Close $65.04EOD only

Max Pain

$70.00

Next expiry Oct 23, 2026

Expected Move

±$1.57

2.4% from close

Price Gap

+4.96

Distance to max pain

IV Rank

Low premium

P/C OI

0.93

Balanced positioning

Consensus

6.5/10

Neutral tilt

Published snapshot: Oct 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

Oct 21, 2026 close

NFLX Theta Report

Analysis based on market close June 8, 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 June 8, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +0.5 spot 1.6% from MP; +0.5 VIX 19

IV Environment

IV Regime

High

IV vs VIX

IV 51.7% vs VIX 18.9% - elevated implied vol

Favorable?

Yes

Term structure: Front-month IV elevated with put skew on Jun18 (put IV 203%) - event risk

⚠️High put IV skew on Jun18 expiry - event risk

📉Negative dealer gamma -$6.4M

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-6.4M)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 67,151 (9.2% below spot)

OI concentrations: Call wall $90-$120; put floor $73-$75; max pain $84, $90, $86

Verdict: Negative dealer gamma increases pin risk near $84

Premium Opportunities

Iron condor

Sell 2026-07-10 $83.00/$78.00 put wing and $85.00/$90.00 call wing

Sell put wing $83/$78 and call wing $85/$90 on 7/10 expiry. Max gain $3.51, max loss $1.49.

Credit: $2.87-$3.51

Max loss: $1.49

BE: 79.49 / 88.51

Mgmt: Close at 50% profit or if spot breaks $90 or $75.

Put credit spread

Sell 2026-07-10 $82.00/$80.00 put spread

Sell $82/$80 put spread for $0.90 credit, max loss $1.10.

Credit: $0.74-$0.90

Max loss: $1.10

BE: $81.10

Mgmt: Exit at 50% profit or if spot falls below $78.

Risk Alerts

!Elevated IV in Jun18 expiry - watch for event risk

!Negative dealer gamma increases tail risk for premium sellers

How to Use These Reports

This theta reflects the market close on June 8, 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.