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NFLX

Netflix, Inc.Close $77.90EOD only
Max Pain
$77.00
Next expiry Sep 18, 2026
Expected Move
±$2.08
2.7% from close
Price Gap
-0.90
Distance to max pain
IV Rank
32
Middle-high premium
P/C OI
0.89
Slightly call-heavy
Consensus
6.5/10
Neutral tilt
Published snapshot: Sep 15, 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 15, 2026 close
NFLX Theta Report
Analysis based on market close June 17, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 17, 2026. A newer theta report is available for June 29, 2026.

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Theta Verdict

Attractiveness6 / 10
Sizing: Conservative
Primary: Iron condor
Invalidation: Break below $73 support or above $83 resistance
Confidence:
6.5 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 7.3% from MP; +0.5 VIX 18

IV Environment

IV Regime
High
IV vs VIX
IV 62% vs VIX 18: high premium
Favorable?
No

Term structure: Front-end (1d) ATM 27% with extreme skew (call 243%, put 463%); rest normal contango

⚠️1d ATM IV 27% with extreme put skew (463%) signals event risk

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-120.5M)

Gamma flip: ~$75.00 — Approx — based on put OI concentration of 71,815 (2.5% below spot)

OI concentrations: Put floor $73, call wall $90-$105; max pain $81-$83 near expiries.

Verdict: Moderate pin risk; OI clustered near $73 and $81-$83.

Premium Opportunities

#1
Iron condor
Sell 2026-07-24 $75.00/$70.00 put wing and $85.00/$86.00 call wing
Collects premium from elevated IV post-earnings, non-directional.
Credit: $1.64-$2.01
Max loss: $2.99
BE: 72.99 / 87.01
Mgmt: Hold to 50% profit or adjust if wings tested.
#2
Put credit spread
Sell 2026-07-24 $73.00/$70.00 put spread
Bullish play on support, elevated IV boosts credit.
Credit: $0.77-$0.94
Max loss: $2.06
BE: $72.06
Mgmt: Exit if price breaches $73.
#3
Call credit spread
Sell 2026-07-24 $83.00/$86.00 call spread
Bearish play on resistance, high IV.
Credit: $0.57-$0.69
Max loss: $2.31
BE: $83.69
Mgmt: Exit if price exceeds $80.74.

Risk Alerts

!Imminent event causing extreme IV skew on 1d expiry
!Dealer short gamma (-$120M) may amplify moves
!Pin risk zones: $73 support and $81-$83 resistance
How to Use These Reports
This theta reflects the market close on June 17, 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.