thetaOwl
HomeOptionsNFLXReports

NFLX

Netflix, Inc.Close $63.41EOD only
Max Pain
$65.00
Next expiry Nov 13, 2026
Expected Move
±$2.52
4.0% from close
Price Gap
+1.59
Distance to max pain
IV Rank
17
Low premium
P/C OI
0.86
Slightly call-heavy
Consensus
6.5/10
Neutral tilt
Published snapshot: Nov 6, 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
Nov 6, 2026 close
NFLX Theta Report
Analysis based on market close June 24, 2026
DirectionalTheta GangFlowEarningsConsensus

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

You are viewing an older report from June 24, 2026. A newer theta report is available for June 29, 2026.

View latest report

Theta Verdict

Attractiveness6 / 10
Sizing: Conservative
Primary: Put credit spreads
Invalidation: Spot closes below $65
Confidence:
7 / 10
base 5; +2 GEX/flow strongly aligned; -0.5 spot 4.2% from MP; +0.5 VIX 19

IV Environment

IV Regime
High
IV vs VIX
Elevated
Favorable?
No

Term structure: Steep contango; short-term ATM ~32%, long-dated put IV >100%

⚠️Long-dated put skew extreme (put IV >100% in Sep/Dec). Tail risk premium elevated.

Pin Risk Assessment

Spot vs MP: Below

GEX regime: Trending ($-55.2M)

Gamma flip: ~$65.00 — Approx — based on put OI concentration of 58,562 (9.5% below spot)

OI concentrations: Max pain $75; Put OI concentration 58,562 (9.5% below spot) near $65; Call OI wall $90-$105

Verdict: Elevated pin risk near max pain with put floor below.

Premium Opportunities

#1
Put calendar
Sell 2026-09-18 $65.00 put / buy 2026-10-16 $65.00 put
Sell front put, buy back put to capture IV premium decay post-earnings.
Debit: $0.57-$0.69
Max loss: $0.69
BE: Path-dependent
Mgmt: Exit if spot breaches $67.95; roll if time decay accelerates.
#2
Call diagonal
Sell 2026-09-18 $82.00 call / buy 2026-10-16 $80.00 call
Sell front call, buy back call OTM to profit from theta decay and upside.
Debit: $1.29-$1.57
Max loss: $1.57
BE: Path-dependent
Mgmt: Close if spot drops below $67.95; adjust strike if momentum shifts.

Risk Alerts

!Negative GEX (-$55.2M) signals dealer short gamma, increased spot sensitivity
!High IV but put skew extreme in long-dated, avoid selling naked puts beyond 30 DTE
How to Use These Reports
This theta reflects the market close on June 24, 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.