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NFLX

Netflix, Inc.Close $71.79EOD only
Max Pain
$77.00
Next expiry Sep 25, 2026
Expected Move
±$2.33
3.3% from close
Price Gap
+5.21
Distance to max pain
IV Rank
67
High premium
P/C OI
0.88
Slightly call-heavy
Consensus
6.5/10
Neutral tilt
Published snapshot: Sep 18, 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 18, 2026 close
NFLX Theta Report
Analysis based on market close June 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 22, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Attractiveness7 / 10
Sizing: Moderate
Primary: Short Put Spreads
Invalidation: Break below $68.44 support
Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; -1 spot 8.9% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
Avg IV 55% vs VIX 17% - elevated
Favorable?
No

Term structure: Front-end ~35%; 18d spike to 48% (event risk); back-end contango

⚠️IV spike on 7/10 expiry implies event risk

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-61.2M)

OI concentrations: Put OI at $80 max pain across expirations; call wall $90-$105

Verdict: Moderate pin risk; spot below MP but OI may pin to $80

Premium Opportunities

#1
Put credit spread
Sell 2026-07-24 $68.00/$60.00 put spread
Sell $68/$60 put spread to collect premium with defined risk.
Credit: $1.22-$1.50
Max loss: $6.50
BE: $66.50
Mgmt: Close if NFLX breaks below $68.44. Liquidity warning: Liquidity constraints: short_put: Open interest below 25.

Risk Alerts

!Event risk on 2026-07-10 expiry (IV spike)
!Spot below $68.44 invalidates thesis
How to Use These Reports
This theta reflects the market close on June 22, 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.