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NFLX

Netflix, Inc.Close $70.90EOD only
Max Pain
$75.00
Next expiry Jun 26, 2026
Expected Move
±$1.23
1.7% from close
Price Gap
+4.10
Distance to max pain
IV Rank
14
Low premium
P/C OI
0.80
Slightly call-heavy
Consensus
4.5/10
Bullish tilt
Published snapshot: Jun 25, 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 25, 2026 close
NFLX Theta Report
Analysis based on market close June 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness6 / 10
Sizing: Moderate
Primary: Short Call Spreads
Invalidation: Spot breaks below $73 support
Confidence:
6 / 10
base 5; -1 GEX/flow contradict; +1 GEX positive (pinning); +0.5 spot 1.1% from MP; +0.5 VIX 18

IV Environment

IV Regime
High
IV vs VIX
Elevated vs VIX (54% vs 18%)
Favorable?
Yes

Term structure: Steep front-month skew; 0DTE call IV 78%. Contango from 0 to 6 DTE, then volatile.

⚠️0DTE call IV 78% vs put 48% – extreme skew; caution for naked shorts.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+122.5M)

Gamma flip: ~$65.00 — Approx — based on put OI concentration of 58,622 (11.9% below spot)

OI concentrations: Put wall at $65 (11.9% below spot); call wall $90-$110.

Verdict: Moderate – spot above max pain ($73-$76) with support at $73; pinning likely.

Premium Opportunities

#1
Call credit spread
Sell 2026-07-17 $80.00/$85.00 call spread
Sell $80/$85 call spread to collect premium from elevated IV.
Credit: $0.70-$0.85
Max loss: $4.15
BE: $80.85
Mgmt: Close at 50% max gain or if spot breaches $77.52.
#2
Put credit spread
Sell 2026-07-17 $70.00/$65.00 put spread
Sell $70/$65 put spread to profit from support holding.
Credit: $1.01-$1.24
Max loss: $3.76
BE: $68.76
Mgmt: Close at 50% max gain or if spot breaks $73.
#3
Iron condor
Sell 2026-07-17 $70.00/$65.00 put wing and $80.00/$85.00 call wing
Sell $70/$65 put and $80/$85 call wings.
Credit: $1.71-$2.09
Max loss: $2.91
BE: 67.91 / 82.09
Mgmt: Close if spot approaches wings; target 50% max gain.

Risk Alerts

!Gamma flip at $65 if spot breaks $73; downside acceleration risk.
!High near-term call skew may indicate event risk; monitor news.
How to Use These Reports
This theta reflects the market close on June 26, 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.