RBLX Flow Report

Analysis based on market close March 31, 2026

Flow Verdict

Confidence:

7.5 / 10

base 5; +2 strong net premium bearish; +1 P/C volume ratio >1.2; +1 flow aligns with GEX pinning; -1.5 P/C OI ratio shows long-term call lean

Watch next session: $48 PUT OI (6,923) for hedging pressure; Flow into $61-$62 calls for bullish reversal attempt

Flow Summary

Net premium: -$17.8M bearish

P/C volume ratio: 1.24 — put-dominant

P/C OI ratio: 0.74 — moderate call lean in positioning

Clear bearish flow today with significant net premium outflow, contrasting with a longer-term call-leaning OI structure. The market is paying for downside protection in the near term while maintaining longer-dated bullish exposure.

Notable Prints

RBLX 4/10 $61 Call

Vol: 4,523

OI: 149

Vol/OI: 30.4x

IV: 60.9%

Notional: ~$1.36M (est. premium ~$300 per contract)

Intent: Fresh directional call buying or bullish spread leg

Dual read: Bought (bullish breakout bet) or sold/covered (neutral to bearish)

Read-through: Given the overall bearish flow and high vol/OI ratio, this is likely a speculative long call purchase targeting a move above $61 within 10 days. It's a counter-trend bet against the dominant put flow.

RBLX 4/17 $80 Put

Vol: 491

OI: 139

Vol/OI: 3.5x

IV: 121.0%

Notional: ~$392,800 (est. premium ~$800 per contract)

Intent: Tail-risk hedge or speculative put purchase

Dual read: Bought (bearish crash protection) or sold (volatility short)

Read-through: Extremely high IV (121%) suggests this is an expensive, out-of-the-money hedge. The size and strike ($80 vs. spot $56.56) point to portfolio protection rather than a direct directional bet on a move to $80.

RBLX 4/24 $57 Put

Vol: 200

OI: 105

Vol/OI: 1.9x

IV: 63.3%

Notional: ~$114,000 (est. premium ~$570 per contract)

Intent: Near-the-money directional put or hedge

Dual read: Bought (bearish) or sold (covered/write)

Read-through: Strike is just above spot. Flow suggests bearish positioning for a move below $57 over the next 3+ weeks, potentially targeting the $48 put OI wall.

RBLX 4/10 $62 Call

Vol: 278

OI: 174

Vol/OI: 1.6x

IV: 60.9%

Notional: ~$83,400 (est. premium ~$300 per contract)

Intent: Follow-on call buying, likely part of a spread with the $61C

Dual read: Bull call spread leg or standalone long call

Read-through: Supports the narrative of concentrated bullish speculation in the $61-$62 zone for the 4/10 expiry, acting as a defined-risk upside bet against the broader bearish flow.

Institutional Positioning

Call additions: Minimal near-term. Long-dated OI clusters at $70, $90, $95 calls suggest longer-term bullish exposure.

Put additions: Significant premium paid for OTM puts ($80-$130). Major OI support at $48 and $55 puts.

GEX/DEX consistency: Yes — Positive GEX ($5.2M) indicates pinning pressure near spot, consistent with heavy OI at $55-$57. Bearish flow (DEX) is fighting against this gamma support.

OI clusters: Call walls: $70 (17,199 OI), $90 (9,699 OI). Put walls: $48 (6,923 OI), $55 (6,905 OI). Creates a near-term channel between $48 and $70.

Hedging evidence: Clear. Large net premium outflow to OTM puts ($80-$130) and substantial OI at protective $48 and $55 puts.

Max pain context: Spot ($56.56) is at/near max pain for the front two expiries ($57, $56). This reinforces the pinning effect from positive GEX and supports range-bound price action in the very near term.

Signal vs Noise

~The massive net premium outflow at strikes $80-$130 is almost certainly institutional hedging (portfolio protection), not a direct bet on those price levels being hit.

~High OI at deep OTM calls ($70, $90, $95) and puts ($25, $35) are likely legacy positions or part of complex multi-leg strategies (e.g., diagonals, calendars), not fresh directional signals.

~The $48 put, while having high OI (6,923), saw high volume (4,692) but is likely a roll or adjustment of an existing hedge given its distance from spot, not a new aggressive bearish bet.

Key Conclusions

⚠️Near-term flow is decisively bearish with -$17.8M net premium, but fighting against positive GEX pinning at max pain.

🛡️Institutions are heavily hedging with OTM puts, paying up for tail-risk protection.

🎯Spot is pinned between max pain ($57) and key put OI support ($55, $48). Break below $55 needed to confirm bearish flow.

⚔️Contrarian bullish speculation exists in $61-$62 calls for 4/10 expiry, creating a defined battle zone.

Read the Flow analysis for RBLX. This AI-generated report covers regime classification, key price levels, strategy recommendations, and actionable trade ideas drawn from end-of-day options data including gamma exposure, delta exposure, and implied volatility.