NFLX Options History — December 2018

In December 2018, NFLX traded between $23.65 and $28.94. ATM implied volatility averaged 56.0%, placing in the 70.9% IV rank vs the trailing year. The 30-day expected move averaged 17.0%. IV traded above realized volatility by 9.5% (HV 20d: 46.6%). Max pain ranged from $27.00 to $30.50. Net GEX was positive for 2 of 20 trading days. Term structure was in contango for 9 of 20 days. Put/call ratio averaged 0.87.

Notable Days

2018-12-21: Highest Volume — 2,612,090 contracts
2018-12-20: Largest IV spike — 16.7% change
2018-12-21: Highest IV Rank — 100.0%
2018-12-24: Largest Expected Move — 22.2%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$26.58	$23.65	$28.94	$28.94	$26.71
Max Pain	$28.45	$27.00	$30.50	$30.50	$27.00
ATM IV	56.0%	39.9%	75.1%	39.9%	66.8%
Expected Move	17.0%	12.4%	22.2%	12.4%	21.7%
HV 20d	46.6%	41.7%	54.3%	46.1%	52.2%
HV 60d	53.6%	52.2%	56.6%	52.2%	56.6%
IV Rank	70.9%	37.0%	100.0%	37.0%	83.4%
IV Percentile	82.8%	52.8%	100.0%	52.8%	98.0%
Term Structure	1.0%	-2.7%	5.4%	0.3%	-2.4%
VWIV	58.5%	43.6%	77.2%	43.6%	75.0%
Skew 25d	9.7%	6.2%	13.6%	6.2%	12.4%
Skew 10d	18.4%	11.5%	25.3%	11.5%	23.8%
Call IV 25d	51.3%	37.3%	68.0%	37.3%	59.8%
Put IV 25d	61.0%	43.5%	80.6%	43.5%	72.2%
Bid-Ask Spread %	13.26	5.21	43.95	5.21	5.91
Gamma HHI	0.05	0.03	0.13	0.03	0.03
Net GEX	-32.1M	-94.9M	18.8M	6.6M	-5.8M
Net DEX	2.10B	249.1M	4.20B	249.1M	829.1M
Net VEX	-27.5M	-30.6M	-23.3M	-30.6M	-26.8M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.87	0.60	1.16	0.78	0.78
Total Volume	1,525,623	921,330	2,612,090	1,691,950	1,329,500
Total OI	9,799,534.5	8,449,690	10,569,990	9,626,520	8,489,120

Daily Data (20 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
2018-12-03	$28.94	$30.50	39.9%	12.4%	46.1%	37.0%	43.6%	6.2%	0.3%	6.6M	249.1M	-30.6M	0.78	5.21	N/A	N/A	951,700	740,250	4,578,490	5,048,030
2018-12-04	$27.57	$30.50	46.6%	14.9%	48.0%	53.4%	51.2%	7.5%	-0.3%	-34.9M	1.85B	-29.7M	0.94	6.30	N/A	N/A	952,570	892,000	4,732,270	5,197,710
2018-12-05	$27.56	$30.50	47.3%	15.3%	47.8%	55.2%	53.1%	7.5%	-0.4%	-36.5M	1.91B	-29.4M	0.92	7.99	N/A	N/A	992,480	915,320	4,732,270	5,197,710
2018-12-06	$28.08	$28.50	48.3%	14.3%	43.9%	57.5%	50.4%	8.2%	-0.0%	-26.7M	1.31B	-30.3M	0.79	9.51	N/A	N/A	907,840	718,450	4,822,100	5,309,350
2018-12-07	$27.06	$28.50	49.5%	14.7%	44.7%	60.7%	50.9%	8.6%	-0.3%	-56.4M	2.44B	-29.3M	0.81	11.70	N/A	N/A	509,110	412,220	5,021,960	5,396,580
2018-12-10	$26.96	$28.50	50.0%	15.2%	42.7%	61.8%	52.3%	9.1%	3.0%	-37.8M	2.27B	-28.7M	0.89	9.35	N/A	N/A	578,190	513,890	4,733,030	5,181,280
2018-12-11	$26.61	$28.50	48.3%	14.9%	41.7%	57.7%	51.4%	8.5%	3.7%	-45.4M	2.65B	-27.7M	0.75	10.49	N/A	N/A	679,290	506,480	4,832,200	5,249,430
2018-12-12	$27.65	$28.50	45.5%	14.3%	44.5%	50.8%	50.0%	7.9%	4.5%	-11.1M	1.41B	-29.1M	0.93	8.68	N/A	N/A	828,950	771,490	4,935,680	5,320,580
2018-12-13	$27.61	$28.50	45.3%	14.1%	44.0%	50.3%	47.5%	7.5%	4.5%	-13.4M	1.51B	-28.7M	0.86	8.30	N/A	N/A	625,570	539,240	5,048,180	5,405,510
2018-12-14	$26.51	$28.50	49.5%	15.0%	46.0%	60.5%	51.7%	7.8%	4.7%	-63.2M	2.80B	-27.0M	1.00	21.99	N/A	N/A	799,840	800,740	5,148,460	5,421,530
2018-12-17	$26.16	$28.50	55.7%	16.2%	46.1%	75.9%	54.9%	8.8%	4.5%	-47.4M	2.77B	-26.5M	0.79	20.05	N/A	N/A	521,840	413,140	4,796,140	5,118,360
2018-12-18	$27.23	$28.50	54.4%	15.7%	43.3%	72.6%	54.7%	8.6%	5.4%	-22.3M	1.68B	-28.1M	0.80	15.83	N/A	N/A	803,320	645,700	4,882,050	5,182,050
2018-12-19	$26.70	$28.50	56.0%	16.0%	43.8%	76.6%	54.6%	8.2%	5.4%	-36.9M	2.31B	-27.3M	0.96	43.95	N/A	N/A	746,250	714,210	5,023,160	5,285,520
2018-12-20	$26.01	$28.00	65.3%	18.8%	44.6%	99.7%	63.6%	12.2%	-1.6%	-61.2M	2.98B	-26.3M	0.99	35.47	N/A	N/A	1,027,560	1,013,120	5,047,550	5,307,230
2018-12-21	$24.50	$28.00	70.2%	20.4%	48.8%	100.0%	68.8%	12.6%	-2.7%	-94.9M	4.20B	-24.2M	0.98	12.52	N/A	N/A	1,318,170	1,293,920	5,139,340	5,362,600
2018-12-24	$23.65	$28.00	75.1%	22.2%	49.8%	100.0%	76.7%	12.5%	-1.9%	-40.7M	3.21B	-23.3M	1.16	9.77	N/A	N/A	464,120	537,510	3,839,040	4,610,650
2018-12-26	$25.11	$27.50	69.0%	20.8%	54.3%	87.8%	70.4%	12.9%	-2.3%	-25.5M	2.24B	-25.2M	0.96	7.45	N/A	N/A	835,460	798,280	3,983,960	4,688,610
2018-12-27	$25.40	$27.00	70.4%	21.6%	50.3%	90.8%	77.2%	13.6%	-2.6%	-6.4M	1.70B	-25.8M	0.81	8.05	N/A	N/A	897,950	725,920	4,109,250	4,721,540
2018-12-28	$25.57	$27.00	67.8%	20.9%	49.1%	85.5%	71.2%	12.8%	-2.3%	18.8M	1.59B	-25.7M	0.60	6.58	N/A	N/A	1,120,460	670,410	4,223,990	4,868,180
2018-12-31	$26.71	$27.00	66.8%	21.7%	52.2%	83.4%	75.0%	12.4%	-2.4%	-5.8M	829.1M	-26.8M	0.78	5.91	N/A	N/A	746,120	583,380	3,854,130	4,634,990