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NFLX

Netflix, Inc.Close $67.05EOD only
Max Pain
$67.00
Next expiry Oct 23, 2026
Expected Move
±$1.20
1.8% from close
Price Gap
-0.05
Distance to max pain
IV Rank
6
Low premium
P/C OI
0.88
Slightly call-heavy
Consensus
6.5/10
Neutral tilt
Published snapshot: Oct 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
Oct 22, 2026 close
NFLX Theta Report
Analysis based on market close June 9, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 9, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness3 / 10
Sizing: Conservative
Primary: Sell call spreads on back-week expiries to capture elevated IV while avoiding event risk
Invalidation: Spot break below $75 gamma flip
Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; -0.5 spot 3.1% from MP; +0.5 VIX 20

IV Environment

IV Regime
High
IV vs VIX
Avg IV 52.7% vs VIX 19.9: elevated
Favorable?
No

Term structure: Front-week put IV 212% on 6/18, extreme skew

⚠️Put IV spike on 6/18: event risk
📉High IV but gamma trending: caution

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-44.6M)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 67,483 (7.9% below spot)

OI concentrations: Max pain pins at $84, $85, $90; call wall $90-$120

Verdict: OI clustered near spot, moderate pin risk

Premium Opportunities

#1
Call diagonal
Sell 2026-07-17 $95.00 call / buy 2026-08-21 $92.00 call
Sell Jul 17 $95 call, buy Aug 21 $92 call to profit from volatility contraction after earnings.
Debit: $1.36-$1.66
Max loss: $1.66
BE: Path-dependent
Mgmt: Exit near earnings or if NFLX drops below $75.

Risk Alerts

!Extreme put skew on 6/18 expiry may indicate event risk
How to Use These Reports
This theta reflects the market close on June 9, 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.