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NFLX

Netflix, Inc.Close $70.40EOD only

Max Pain

$70.00

Next expiry Jul 31, 2026

Expected Move

±$2.28

3.2% from close

Price Gap

-0.40

Distance to max pain

IV Rank

Low premium

P/C OI

0.84

Slightly call-heavy

Consensus

6.5/10

Neutral tilt

Published snapshot: Jul 27, 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

Jul 27, 2026 close

NFLX Theta Report

Analysis based on market close June 11, 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 11, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Confidence:

5 / 10

base 5; +2 GEX/flow strongly aligned; +0.5 VIX 19; override: Negative gamma & mixed flow reduce appeal despite high IV

IV Environment

IV Regime

High

IV vs VIX

IV (53.8%) is 2.8x VIX (19.4%), indicating overpricing

Favorable?

Yes

Term structure: Steep short-term skew; 7d put IV 224% signals tail risk; longer term IV ~40%

📈IV 53.8% vs VIX 19.4 – premium-rich

⚠️7d put IV 224% – extreme tail risk

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-71.0M)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 68,130 (7.7% below spot)

OI concentrations: Max pain pins $83 (12Jun), $89 (18Jun), $85 (26Jun). Put floor $73-$75, call wall $90-$120

Verdict: Spot ($80.38) below max pain; puts at risk near $73-$75

Premium Opportunities

Iron condor

Sell 2026-07-10 $75.00/$73.00 put wing and $90.00/$91.00 call wing

Sell 75/73 put and 90/91 call for 0.38 credit; max loss 1.62.

Credit: $0.31-$0.38

Max loss: $1.62

BE: 74.62 / 90.38

Mgmt: Close if spot approaches $75 or $90, or near expiration.

Put credit spread

Sell 2026-07-10 $75.00/$73.00 put spread

Sell 75/73 put spread for 0.28 credit; max loss 1.72.

Credit: $0.23-$0.28

Max loss: $1.72

BE: $74.72

Mgmt: Monitor for breach of $77.31 invalidation level; close if risk rises.

Risk Alerts

!Negative dealer gamma (-$71M) amplifies moves

!Extreme 7d put skew (224% IV)

!Mixed flow – no directional edge

How to Use These Reports

This theta reflects the market close on June 11, 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.