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NFLX

Netflix, Inc.Close $76.77EOD only
Max Pain
$79.00
Next expiry Sep 11, 2026
Expected Move
±$2.03
2.6% from close
Price Gap
+2.23
Distance to max pain
IV Rank
16
Low premium
P/C OI
0.90
Slightly call-heavy
Consensus
6.5/10
Neutral tilt
Published snapshot: Sep 8, 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 8, 2026 close
NFLX Theta Report
Analysis based on market close June 10, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 10, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Short vertical spreads
Invalidation: Spot breach of $75 gamma flip or IV collapse below 40%
Confidence:
7.5 / 10
base 5; +2 GEX/flow strongly aligned; +0.5 spot 1.2% from MP

IV Environment

IV Regime
High
IV vs VIX
IV 53% vs VIX 22%; elevated
Favorable?
Yes

Term structure: Steep: front 30.8%, 8d event spike (125c/210p), then normal contango

⚠️Event risk on 6/18 expiration drives extreme IV in weekly; avoid naked positions

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-23.0M)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 68,043 (8.5% below spot)

OI concentrations: Call wall $90-$120; put floor $73-$75; max pain pins $83 (6/12), $89 (6/18), $85 (6/26)

Verdict: Multiple pin levels near spot; put floor provides support but gamma flip at $75 is key risk

Premium Opportunities

#1
Iron condor
Sell 2026-07-17 $80.00/$75.00 put wing and $85.00/$90.00 call wing
Captures elevated IV premium with defined risk via put and call wings.
Credit: $2.81-$3.43
Max loss: $1.57
BE: 76.57 / 88.43
Mgmt: Monitor $75 gamma flip and IV below 40%; exit if invalidation occurs.

Risk Alerts

!Negative dealer gamma (-$23M) amplifies spot moves
!Event volatility on 6/18 expiration: extreme IV and potential gap risk
!Gamma flip at $75 could trigger accelerated selloff
How to Use These Reports
This theta reflects the market close on June 10, 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.