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NFLX

Netflix, Inc.Close $72.82EOD only

Max Pain

$76.00

Next expiry Jun 26, 2026

Expected Move

±$2.00

2.7% from close

Price Gap

+3.18

Distance to max pain

IV Rank

Low premium

P/C OI

0.80

Slightly call-heavy

Consensus

6.5/10

Bearish tilt

Published snapshot: Jun 23, 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

Jun 23, 2026 close

NFLX Theta Report

Analysis based on market close June 24, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

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?

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

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.

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.