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NFLX

Netflix, Inc.Close $80.32EOD only
Max Pain
$77.00
Next expiry Sep 18, 2026
Expected Move
±$2.53
3.1% from close
Price Gap
-3.32
Distance to max pain
IV Rank
31
Middle-high premium
P/C OI
0.89
Slightly call-heavy
Consensus
6.5/10
Neutral tilt
Published snapshot: Sep 14, 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 14, 2026 close
NFLX Theta Report
Analysis based on market close June 16, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 16, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Sell OTM put credit spreads
Invalidation: Spot breaks $73 or VIX above 20
Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 7.4% from MP; +1 VIX 16

IV Environment

IV Regime
High
IV vs VIX
Avg IV 59% vs VIX 16.4 = 3.6x premium
Favorable?
Yes

Term structure: Front-month (2d) extreme skew from earnings; back-month ~40% elevated

📈Avg IV 59% vs VIX 16.4 = 3.6x premium
⚠️Front-month call/put IV 200%+ due to earnings

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-96.3M)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 70,031 (4.7% below spot)

OI concentrations: Max pain $85 (6/18) & $83 (6/26); call wall $90-$105; put floor $73-$75

Verdict: Spot ~$78 below nearest pin – low pin risk unless sharp rally

Premium Opportunities

#1
Put credit spread
Sell 2026-06-18 $75.00/$74.00 put spread
Sell $75/$74 put spread to capture elevated implied volatility before earnings.
Credit: $0.03-$0.03
Max loss: $0.97
BE: $74.97
Mgmt: Close at 50% max gain or if spot breaks $75.
#2
Call credit spread
Sell 2026-06-18 $83.00/$84.00 call spread
Sell $83/$84 call spread to collect premium from overpriced calls.
Credit: $0.02-$0.02
Max loss: $0.98
BE: $83.02
Mgmt: Exit at 50% profit or if spot breaches $82.82.
#3
Short strangle
Sell 2026-06-18 $75.00 put + sell $83.00 call
Sell $75 put and $83 call to benefit from range-bound move.
Credit: $0.13-$0.15
Max loss: Unlimited
BE: 74.85 / 83.15
Mgmt: Set stop-loss on each side; close before earnings.

Risk Alerts

!Earnings event 6/18 inflates front-month IV
!Put floor at $73-$75 with 70k OI supports downside
How to Use These Reports
This theta reflects the market close on June 16, 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.