NFLX Options History — November 2018

In November 2018, NFLX traded between $25.88 and $32.56. ATM implied volatility averaged 48.6%, placing in the 60.8% IV rank vs the trailing year. The 30-day expected move averaged 14.2%. IV traded below realized volatility by 14.1% (HV 20d: 62.8%). Max pain ranged from $30.50 to $34.00. Net GEX was positive for 8 of 21 trading days. Term structure was in contango for 0 of 21 days. Put/call ratio averaged 0.82.

Notable Days

2018-11-09: Highest Volume — 2,652,340 contracts
2018-11-19: Largest IV spike — 11.7% change
2018-11-20: Highest IV Rank — 78.1%
2018-11-02: Largest Expected Move — 16.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$29.03	$25.88	$32.56	$31.63	$28.74
Max Pain	$32.45	$30.50	$34.00	$34.00	$30.50
ATM IV	48.6%	42.1%	56.0%	48.6%	45.5%
Expected Move	14.2%	11.9%	16.2%	15.7%	14.3%
HV 20d	62.8%	46.4%	71.5%	71.2%	46.4%
HV 60d	51.8%	50.6%	53.3%	50.6%	52.2%
IV Rank	60.8%	45.9%	78.1%	61.0%	50.7%
IV Percentile	76.5%	66.3%	91.3%	78.2%	67.1%
Term Structure	-1.1%	-3.2%	-0.3%	-1.0%	-0.4%
VWIV	49.6%	41.7%	56.8%	55.9%	50.0%
Skew 25d	9.1%	6.0%	12.1%	8.7%	6.3%
Skew 10d	18.4%	11.4%	24.0%	17.9%	12.3%
Call IV 25d	44.7%	39.2%	50.5%	44.8%	42.8%
Put IV 25d	53.8%	46.0%	62.6%	53.5%	49.1%
Bid-Ask Spread %	6.59	4.06	11.21	5.77	4.63
Gamma HHI	0.04	0.03	0.11	0.03	0.11
Net GEX	-15.1M	-73.6M	75.3M	55.5M	68.3M
Net DEX	1.65B	-1.46B	3.64B	-549.8M	-202.0M
Net VEX	-31.3M	-36.2M	-26.1M	-36.2M	-31.3M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.82	0.62	1.12	0.91	0.65
Total Volume	1,693,599.524	1,073,570	2,652,340	1,958,200	1,719,600
Total OI	10,041,078.095	8,933,410	10,889,680	10,378,650	10,408,520

Daily Data (21 trading days)

Date	Price	Max Pain	ATM IV	Exp Move	HV 20d	IV Rank	VWIV	Skew 25d	Term Str	GEX	DEX	VEX	P/C	Spread %	Call Wall	Put Wall	Call Vol	Put Vol	Call OI	Put OI
2018-11-01	$31.63	$34.00	48.6%	15.7%	71.2%	61.0%	55.9%	8.7%	-1.0%	55.5M	-549.8M	-36.2M	0.91	5.77	N/A	N/A	1,027,740	930,460	5,012,720	5,365,930
2018-11-02	$30.93	$34.00	48.7%	16.2%	70.9%	61.3%	56.8%	9.7%	-1.3%	15.0M	569.3M	-35.3M	0.96	6.77	N/A	N/A	1,106,900	1,057,780	5,108,310	5,521,000
2018-11-05	$31.50	$33.50	48.4%	13.2%	71.5%	60.6%	45.9%	9.2%	-1.3%	9.7M	182.5M	-35.4M	0.70	7.72	N/A	N/A	748,550	521,020	4,604,010	5,178,650
2018-11-06	$30.92	$33.50	46.9%	13.0%	71.1%	57.1%	44.8%	8.7%	-0.8%	-8.0M	980.3M	-34.2M	0.83	7.33	N/A	N/A	586,680	486,890	4,743,330	5,317,140
2018-11-07	$32.56	$33.50	42.1%	11.9%	68.5%	45.9%	41.7%	6.8%	-0.3%	75.3M	-1.46B	-35.2M	0.66	6.97	N/A	N/A	1,053,990	696,820	4,844,810	5,382,180
2018-11-08	$31.72	$33.50	43.5%	12.4%	68.9%	49.3%	42.5%	7.0%	-0.3%	26.9M	-49.0M	-34.6M	0.72	8.13	N/A	N/A	899,270	649,410	4,933,950	5,399,490
2018-11-09	$30.38	$33.50	45.3%	12.8%	67.8%	53.5%	44.9%	8.0%	-0.3%	-71.1M	2.04B	-32.6M	0.99	9.35	N/A	N/A	1,330,870	1,321,470	4,999,110	5,468,660
2018-11-12	$29.42	$33.00	48.5%	13.6%	68.5%	60.8%	47.4%	9.1%	-0.8%	-47.2M	2.61B	-31.2M	1.12	8.44	N/A	N/A	634,410	708,870	4,631,090	5,204,800
2018-11-13	$29.35	$33.00	52.4%	14.5%	67.1%	69.8%	50.2%	10.2%	-1.6%	-47.3M	2.62B	-31.7M	0.75	11.21	N/A	N/A	878,380	661,150	4,762,310	5,354,710
2018-11-14	$28.75	$33.00	54.6%	15.3%	63.4%	75.0%	52.7%	11.4%	-1.2%	-62.8M	3.18B	-31.0M	0.85	8.94	N/A	N/A	1,221,530	1,039,990	4,964,580	5,453,880
2018-11-15	$28.88	$32.50	51.7%	14.5%	62.5%	68.2%	51.2%	10.4%	-1.2%	-47.9M	2.79B	-31.6M	0.86	6.29	N/A	N/A	759,490	650,520	5,207,130	5,538,630
2018-11-16	$28.75	$32.50	49.3%	14.1%	61.2%	62.6%	48.5%	9.9%	-0.3%	-40.1M	3.04B	-30.9M	0.89	6.59	N/A	N/A	921,260	816,810	5,288,890	5,600,790
2018-11-19	$27.01	$32.50	55.1%	15.6%	64.2%	76.0%	53.2%	11.5%	-3.2%	-49.2M	2.94B	-27.9M	0.86	4.58	N/A	N/A	965,490	833,290	4,157,170	4,776,240
2018-11-20	$26.78	$32.00	56.0%	16.0%	64.0%	78.1%	55.0%	12.1%	-2.7%	-51.8M	3.08B	-28.6M	0.81	6.49	N/A	N/A	1,024,530	829,020	4,402,320	4,967,450
2018-11-21	$26.42	$32.00	50.8%	14.6%	59.4%	66.2%	49.7%	11.0%	-2.0%	-56.2M	3.28B	-27.7M	0.77	4.09	N/A	N/A	799,960	617,390	4,608,730	5,035,720
2018-11-23	$25.88	$31.50	51.1%	14.9%	58.8%	66.8%	51.2%	11.3%	-2.6%	-73.6M	3.64B	-26.7M	0.96	6.01	N/A	N/A	557,740	535,480	4,797,840	5,126,370
2018-11-26	$26.18	$31.00	46.6%	14.2%	57.1%	56.4%	49.8%	9.0%	-0.3%	-48.4M	3.16B	-26.1M	0.81	4.37	N/A	N/A	930,280	752,740	4,362,350	4,846,660
2018-11-27	$26.70	$31.00	45.8%	14.1%	51.6%	54.0%	50.4%	8.2%	-0.5%	-26.2M	2.45B	-27.5M	0.85	5.07	N/A	N/A	723,040	617,960	4,592,890	4,965,970
2018-11-28	$28.19	$31.00	44.8%	14.0%	54.9%	51.5%	49.5%	6.4%	-0.8%	15.8M	688.9M	-30.0M	0.62	4.06	N/A	N/A	1,250,010	770,290	4,723,440	5,087,960
2018-11-29	$28.96	$30.50	45.7%	14.3%	49.2%	51.2%	51.2%	6.0%	-0.3%	45.8M	-394.5M	-31.8M	0.65	5.53	N/A	N/A	1,172,190	756,320	4,874,640	5,242,270
2018-11-30	$28.74	$30.50	45.5%	14.3%	46.4%	50.7%	50.0%	6.3%	-0.4%	68.3M	-202.0M	-31.3M	0.65	4.63	N/A	N/A	1,044,030	675,570	5,032,830	5,375,690