NFLXNetFlix Inc
Options Analysis Report•SERVICES-VIDEO TAPE RENTAL
Market Cap $388.5B|NASDAQ
● 2026-04-29$92.12
NEUTRAL
Analysis: 2026-04-28 EOD data
1Y -18.6%YTD +1.2%7D -1.2%
Options Vol
461,092
30D
Implied Move
±8.6%
IV Rank
19%
NFLX Options Overview
Mixed signals. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
8.2
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 42.1% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.72x — IV ≤ HV
Sector Relative≤50%
Sector percentile 29% — below sector median
Term Structure
<1.1xFront/Back 1.01x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 33.3% — normal range
Spread-Adjusted Value
<80%Effective IV 44.1% (ATM 33.3% + spread 5.4% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 7.20% (spread 5.39% + slippage 1.81%) — high friction
Vega Efficiency
≥5.0Vega efficiency 56.98 (vega 30.711 / spread 5.39%) — efficient
Sentiment
Bullish or bearish?
6.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: +6%, Raw: +5%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +6% (neutral) — Raw: +5%
OI Skew Magnitude
≥15%|OI skew| 8.4% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +39.7%, OI skew +8.4% — aligned
Conviction Quality
≥2/3 conditions0-DTE 0%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -2%, ATM: +12%, OTM: +2% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 12% — very bullish vs sector
Activity
Unusual activity?
4.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 7.6% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change -1.2% (5d) — stable
Sector Relative≥60%
Sector activity percentile 88% — very active vs sector
Trade Quality
≥30%Large trade volume 26% — mixed
Execution Urgency
≥60%Aggressive execution 65% — urgent
Flow Conviction
≥30Conviction +6 (bullish) — mixed
Liquidity
Can I trade efficiently?
7.2
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 5.4% — wide
Adequate OI
≥10,000OI 6,042,052 — deep
Active Volume
≥500Volume 461,092/day — active
Reasonable Cost
≤$0.50$0.27 to cross — cheap
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 41% — neutral vs sector
Order Book Depth
≥100 contractsDepth 488.1 contracts (bid:228.8 ask:259.3) — adequate
Execution Quality
<1.0%Avg slippage 1.81% — fair
Timing
Is now a good time?
6.1
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks4/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +1.4% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 42% — neutral
Event Detection
≥10pts kinkIV kink 3.9pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 1238.33 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)HIGH RISK: FOMC in 0d (HIGH)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow +6% @ 53% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 56 (ITM 20% + inst 26%) — moderate institutional
Directional Strategy Fit
Option Buyers
Long Calls7.2
bullishIV cheap, bullish flow
Long Puts6.0
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.2
bullishIV too cheap, bullish flow
Covered Call4.1
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.