NFLXNetFlix Inc
Options Analysis Report•SERVICES-VIDEO TAPE RENTAL
Market Cap $409.8B|NASDAQ
● 2026-04-17$97.31
BULLISH
Analysis: 2026-04-16 EOD data
1Y -1.5%YTD +6.9%7D -5.5%
Options Vol
1,323,524
30D
Implied Move
±13.5%
IV Rank
66%
NFLX Options Overview
IV is elevated with unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.1
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 84.5% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.88x — IV premium over HV
Sector Relative≤50%
Sector percentile 67% — above sector median
Term Structure
<1.1xFront/Back 1.89x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 51.3% — normal range
Spread-Adjusted Value
<80%Effective IV 57.4% (ATM 51.3% + spread 3.1% + bias) — good value
Execution Efficiency
<3.0%Total drag 4.43% (spread 3.06% + slippage 1.37%) — high friction
Vega Efficiency
≥5.0Vega efficiency 175.24 (vega 53.624 / spread 3.06%) — efficient
Sentiment
Bullish or bearish?
6.1
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: -5%, Raw: +5%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -5% (neutral) — Raw: +5%
OI Skew Magnitude
≥15%|OI skew| 3.9% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +46.9%, OI skew +3.9% — aligned
Conviction Quality
≥2/3 conditions0-DTE 42%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +20%, ATM: -18%, OTM: +7% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 38% — bullish vs sector
Activity
Unusual activity?
7.4
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks5/9 checks passed
Volume Surge
≥1.5xVolume 3.0x avg — hot
Turnover Rate
≥15%Vol/OI 21.2% — high 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 +10.1% (5d) — building
Sector Relative≥60%
Sector activity percentile 88% — very active vs sector
Trade Quality
≥30%Large trade volume 48% — institutional presence
Execution Urgency
≥60%Aggressive execution 60% — patient
Flow Conviction
≥30Conviction -5 (bearish) — mixed
Liquidity
Can I trade efficiently?
7.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks6/8 checks passed
Tradeable Spread
≤5.0%Spread 3.1% — acceptable
Adequate OI
≥10,000OI 6,241,250 — deep
Active Volume
≥500Volume 1,323,524/day — active
Reasonable Cost
≤$0.50$0.15 to cross — cheap
Strike Coverage
≥5 strikes20 liquid strikes — good coverage
Sector Relative≤40%
Sector spread percentile 71% — wider than sector
Order Book Depth
≥100 contractsDepth 384.2 contracts (bid:181.1 ask:203.1) — adequate
Execution Quality
<1.0%Avg slippage 1.37% — fair
Timing
Is now a good time?
8.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks8/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +88.6% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 84% — seller opportunity
Event Detection
≥10pts kinkIV kink 28.0pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 2681.19 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -5% @ 52% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 78 (ITM 20% + inst 48%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls5.6
bullishIV expensive, bullish flow
Long Puts4.8
bearishIV expensive, bullish flow
Premium Sellers
Cash-Secured Put6.9
bullishIV rich premium, bullish flow
Covered Call6.3
bearishIV rich premium, bullish flow
For educational purposes only. Not investment advice.