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NFLX

Netflix, Inc.Close $73.81EOD only

Max Pain

$74.00

Next expiry Jul 2, 2026

Expected Move

±$2.54

3.4% from close

Price Gap

+0.19

Distance to max pain

IV Rank

Low premium

P/C OI

0.78

Slightly call-heavy

Consensus

6.5/10

Neutral tilt

Published snapshot: Jun 26, 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 26, 2026 close

NFLX Theta Report

Analysis based on market close June 29, 2026

Directional Theta Gang Flow Earnings Consensus

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

Theta Verdict

Confidence:

9 / 10

base 5; +2 GEX/flow strongly aligned; +1 spot 0.3% from MP; +1 VIX 18

IV Environment

IV Regime

High

IV vs VIX

IV significantly elevated vs VIX

Favorable?

Yes

Term structure: Steep term structure with pronounced volatility smile; long-dated put IV spikes

📊NFLX avg IV 54% vs VIX 18% – rich premium environment

⚠️Long-dated put skew severe – avoid selling naked puts

Pin Risk Assessment

Spot vs MP: At

GEX regime: Trending ($-898K)

Gamma flip: ~$65.00 — Approx — based on put OI concentration of 58,663 (11.9% below spot)

OI concentrations: Max pain $74 (Jul2), $75 (Jul10), $80 (Jul17); put floor $65, call wall $90-110

Verdict: Pin risk moderate – spot near $72.85, closest expiration $74 and $75 pins. Stay away from 0DTE.

Premium Opportunities

Put credit spread

Sell 2026-07-02 $70.00/$66.00 put spread

Sell $70/$66 put spread to profit from time decay and stable price above $70.

Credit: $0.07-$0.08

Max loss: $3.92

BE: $69.92

Mgmt: Exit at 50% max profit or before earnings; avoid pin risk. Liquidity warning: Liquidity constraints: long_put: Wide spread (100%). Substitutions: short_put: resolved contract 2025-04-17 $70.00 missing; used 2026-07-02 $70.00.; long_put: resolved contract 2025-04-17 $66.00 missing; used 2026-07-02 $66.00.

Iron condor

Sell 2026-07-02 $70.00/$66.00 put wing and $80.00/$84.00 call wing

Sell $70/$66 put wing and $80/$84 call wing to profit from IV contraction and range-bound move.

Credit: $0.10-$0.13

Max loss: $3.87

BE: 69.87 / 80.13

Mgmt: Close at 50% max profit or adjust if spot nears wings. Liquidity warning: Liquidity constraints: long_put: Wide spread (100%). Substitutions: short_put: resolved contract 2025-04-17 $70.00 missing; used 2026-07-02 $70.00.; long_put: resolved contract 2025-04-17 $66.00 missing; used 2026-07-02 $66.00.; short_call: resolved contract 2025-04-17 $80.00 missing; used 2026-07-02 $80.00.; long_call: resolved contract 2025-04-17 $84.00 missing; used 2026-07-02 $84.00.

Risk Alerts

!Negative dealer gamma ($-898K GEX) may amplify moves

!Focus on near-expiry short-dated strikes to avoid long-dated put skew

How to Use These Reports

This theta reflects the market close on June 29, 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.