NFLX Options History — September 2008

In September 2008, NFLX traded between $0.40 and $0.47. ATM implied volatility averaged 48.1%, placing in the 28.1% IV rank vs the trailing year. The 30-day expected move averaged 14.1%. IV traded above realized volatility by 10.5% (HV 20d: 37.6%). Max pain ranged from $0.46 to $0.50. Net GEX was positive for 0 of 21 trading days. Term structure was in contango for 21 of 21 days. Put/call ratio averaged 2.26.

Notable Days

  • 2008-09-18: Highest Volume — 730,450 contracts
  • 2008-09-29: Largest IV spike — 22.2% change
  • 2008-09-17: Highest IV Rank — 46.5%
  • 2008-09-17: Largest Expected Move — 16.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$0.43$0.40$0.47$0.44$0.44
Max Pain$0.48$0.46$0.50$0.50$0.50
ATM IV48.1%41.7%57.6%41.7%46.2%
Expected Move14.1%11.9%16.5%11.9%13.2%
HV 20d37.6%30.8%46.8%31.8%46.8%
HV 60d44.6%42.0%46.2%45.9%42.7%
IV Rank28.1%15.5%46.5%15.5%24.2%
IV Percentile46.5%8.3%75.4%8.3%40.9%
Term Structure5.9%1.1%14.0%3.7%14.0%
VWIV50.0%41.5%64.0%41.5%52.1%
Skew 25d3.2%-1.5%7.7%-1.5%1.2%
Skew 10d8.4%-9.7%27.5%-6.9%5.2%
Call IV 25d48.3%42.4%57.8%42.8%49.4%
Put IV 25d51.5%41.3%61.4%41.3%50.7%
Bid-Ask Spread %32.3213.0382.1013.5746.38
Gamma HHI0.250.170.430.220.21
Net GEX-751.1K-1.1M-330.1K-614.0K-827.6K
Net DEX30.9M3.9M56.7M26.0M20.2M
Net VEX-279.2K-293.1K-262.9K-288.2K-267.2K
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio2.260.218.300.730.91
Total Volume157,95033,250730,45073,430128,660
Total OI5,991,893.3334,619,5107,264,5306,236,7204,830,490

Daily Data (21 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2008-09-02$0.44$0.5041.7%11.9%31.8%15.5%41.5%-1.5%3.7%-614.0K26.0M-288.2K0.7313.57N/AN/A42,42031,0102,384,4103,852,310
2008-09-03$0.44$0.5042.3%12.1%31.8%16.8%42.2%0.1%5.1%-574.6K25.4M-290.5K1.6215.20N/AN/A60,90098,7702,399,6703,862,950
2008-09-04$0.43$0.5042.4%12.2%34.3%17.0%42.3%1.2%4.1%-580.4K36.0M-286.1K0.7113.03N/AN/A62,16043,9602,444,8203,920,210
2008-09-05$0.42$0.4641.9%13.5%33.9%16.0%46.4%5.0%7.6%-615.8K38.4M-278.2K3.9118.50N/AN/A55,370216,5802,427,1803,926,720
2008-09-08$0.43$0.4644.7%13.9%33.6%21.4%48.8%4.0%5.5%-659.2K36.7M-281.4K3.1819.67N/AN/A33,390106,1202,421,6504,029,900
2008-09-09$0.41$0.4646.5%14.8%34.4%25.0%51.5%2.8%5.5%-797.5K47.8M-270.8K3.2720.94N/AN/A35,000114,4502,425,5704,030,600
2008-09-10$0.41$0.4645.9%14.5%31.3%23.8%49.3%4.9%7.7%-887.8K49.6M-272.7K0.4915.89N/AN/A32,06015,7502,443,0004,097,240
2008-09-11$0.41$0.4649.1%14.1%30.9%30.0%50.7%3.8%5.4%-858.4K48.9M-262.9K2.9220.08N/AN/A51,940151,6202,451,0504,081,770
2008-09-12$0.42$0.4649.0%14.1%30.8%29.9%49.8%6.2%4.2%-747.1K44.6M-276.2K6.8013.96N/AN/A34,300233,1702,462,6704,158,770
2008-09-15$0.40$0.4652.5%15.1%34.0%36.6%53.4%1.9%4.6%-1.1M56.7M-271.3K0.9714.71N/AN/A85,26082,8802,468,2704,295,060
2008-09-16$0.41$0.4652.8%15.1%34.0%37.2%51.1%3.7%4.3%-1.1M54.8M-264.1K0.6421.43N/AN/A29,40018,8302,484,9304,319,840
2008-09-17$0.41$0.4657.6%16.5%34.2%46.5%64.0%3.6%2.8%-890.0K47.4M-281.4K0.3535.53N/AN/A137,83048,3002,494,6604,365,970
2008-09-18$0.44$0.4652.9%15.2%43.1%37.3%55.4%7.7%3.1%-330.1K28.2M-278.3K7.2751.21N/AN/A88,340642,1102,537,9904,297,020
2008-09-19$0.46$0.5050.7%14.5%43.7%33.1%49.1%6.1%1.1%-405.7K32.1M-277.4K0.2160.23N/AN/A134,40028,2102,557,3104,707,220
2008-09-22$0.45$0.5050.6%14.5%43.3%32.8%50.9%3.3%2.3%-768.7K12.2M-280.9K8.3061.63N/AN/A15,680130,1301,568,5603,050,950
2008-09-23$0.45$0.5049.8%14.3%42.3%31.3%50.4%3.4%11.4%-784.2K12.9M-293.1K0.4439.82N/AN/A39,41017,5001,604,5403,155,320
2008-09-24$0.45$0.5050.0%14.3%42.4%31.6%50.8%2.5%5.8%-783.6K10.8M-286.2K0.6330.68N/AN/A20,37012,8801,627,7103,175,130
2008-09-25$0.47$0.5044.3%12.7%43.8%20.6%48.0%4.3%10.2%-837.5K3.9M-288.0K1.8535.06N/AN/A43,26080,0801,637,5103,176,320
2008-09-26$0.47$0.5045.0%12.9%43.6%22.0%46.2%2.7%9.9%-831.1K4.1M-278.2K0.3749.20N/AN/A30,87011,2701,658,0903,165,400
2008-09-29$0.45$0.5055.0%15.8%46.0%41.4%55.8%0.6%6.7%-723.6K12.2M-290.5K1.8582.10N/AN/A25,41046,9001,665,3703,165,610
2008-09-30$0.44$0.5046.2%13.2%46.8%24.2%52.1%1.2%14.0%-827.6K20.2M-267.2K0.9146.38N/AN/A67,27061,3901,656,1303,174,360