NFLX Options History — March 2020

In March 2020, NFLX traded between $30.73 and $38.17. ATM implied volatility averaged 66.7%, placing in the 74.5% IV rank vs the trailing year. The 30-day expected move averaged 18.7%. IV traded above realized volatility by 8.2% (HV 20d: 58.5%). Max pain ranged from $34.00 to $35.50. Net GEX was positive for 12 of 22 trading days. Term structure was in contango for 6 of 22 days. Put/call ratio averaged 0.75.

Notable Days

  • 2020-03-05: Highest Volume — 1,861,860 contracts
  • 2020-03-16: Largest IV spike — 24.9% change
  • 2020-03-06: Highest IV Rank — 100.0%
  • 2020-03-18: Largest Expected Move — 28.7%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$35.03$30.73$38.17$37.71$37.23
Max Pain$34.95$34.00$35.50$34.00$35.00
ATM IV66.7%43.3%100.1%47.0%58.0%
Expected Move18.7%12.9%28.7%14.2%14.4%
HV 20d58.5%37.9%77.0%39.7%73.2%
HV 60d44.2%35.5%52.5%35.5%52.4%
IV Rank74.5%43.2%100.0%69.1%43.2%
IV Percentile96.0%73.4%100.0%88.9%93.7%
Term Structure-0.6%-3.9%7.4%-1.6%-3.1%
VWIV64.0%46.4%90.7%54.2%51.1%
Skew 25d16.2%8.8%28.6%9.8%13.8%
Skew 10d30.0%16.0%48.9%18.2%27.5%
Call IV 25d57.9%39.6%80.9%42.0%50.4%
Put IV 25d74.2%48.4%109.5%51.8%64.3%
Bid-Ask Spread %30.859.2653.8117.2948.23
Gamma HHI0.040.030.060.040.05
Net GEX5.6M-61.6M79.5M50.3M49.2M
Net DEX-811.0M-3.57B2.11B-3.05B-2.00B
Net VEX-28.7M-31.2M-27.3M-29.5M-27.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.750.401.210.900.59
Total Volume1,084,573.182598,3901,861,860656,5801,025,760
Total OI6,087,233.6364,826,8206,833,9606,161,9405,352,220

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2020-03-02$37.71$34.0047.0%14.2%39.7%69.1%54.2%9.8%-1.6%50.3M-3.05B-29.5M0.9017.29N/AN/A345,700310,8802,642,5303,519,410
2020-03-03$37.15$34.0048.2%15.1%38.0%73.0%54.1%10.2%-0.5%40.0M-2.54B-29.9M0.5712.69N/AN/A944,800536,8202,720,5303,624,250
2020-03-04$38.17$34.0043.3%12.9%37.9%56.8%46.4%8.8%-0.8%79.5M-3.57B-28.7M0.439.26N/AN/A639,900272,2902,789,7503,742,250
2020-03-05$37.20$35.0052.9%16.1%39.1%88.2%53.7%10.5%-1.4%25.2M-2.37B-30.6M0.5034.08N/AN/A1,244,930616,9302,904,9503,786,950
2020-03-06$36.71$35.0057.1%17.6%39.3%100.0%63.5%14.7%-0.9%-45.2M-1.67B-31.2M0.8329.55N/AN/A876,700724,4202,946,0703,887,890
2020-03-09$34.99$35.5065.5%19.4%42.8%100.0%66.5%16.9%2.4%-20.2M-453.4M-30.9M0.7837.54N/AN/A418,780327,7002,703,3703,652,110
2020-03-10$36.16$35.5059.8%18.3%44.5%85.7%62.9%15.1%4.5%6.0M-1.53B-30.4M0.7436.55N/AN/A489,940362,9202,769,8203,657,020
2020-03-11$34.83$35.5066.2%19.9%46.0%100.0%68.3%15.7%3.8%-22.8M-373.6M-30.2M0.9321.60N/AN/A310,730287,6602,826,4003,708,880
2020-03-12$31.60$35.5080.2%23.3%56.2%100.0%77.9%19.9%0.9%-61.6M2.11B-28.5M1.1540.92N/AN/A635,450733,8902,864,5803,757,800
2020-03-13$32.40$35.0073.6%21.4%57.2%87.9%73.2%19.6%2.4%-55.0M1.57B-28.4M1.2153.81N/AN/A548,060662,4902,958,7403,746,630
2020-03-16$30.94$35.0091.9%26.5%58.7%100.0%83.9%25.9%-3.9%-39.2M1.80B-27.5M0.9336.38N/AN/A388,420360,5402,662,9003,501,620
2020-03-17$31.97$35.0084.9%24.4%59.4%89.3%80.5%22.9%-1.8%-34.6M1.25B-27.8M1.0619.09N/AN/A420,070445,3902,731,2703,519,580
2020-03-18$30.73$35.00100.1%28.7%60.3%100.0%90.7%28.6%-3.5%-37.5M1.80B-27.3M1.0730.53N/AN/A466,920501,9302,814,0803,590,550
2020-03-19$33.83$35.0076.4%21.9%71.4%68.1%75.3%21.5%-0.1%1.9M-298.5M-28.2M0.7635.43N/AN/A711,580539,2102,881,9703,636,530
2020-03-20$33.54$35.0068.8%19.1%71.3%57.8%64.9%17.8%7.4%-14.4M2.7M-27.5M0.9441.73N/AN/A654,930616,9203,019,0303,663,420
2020-03-23$36.33$35.0067.3%17.1%77.0%55.8%59.6%15.5%-3.3%30.3M-1.68B-28.2M0.6920.26N/AN/A667,450463,4302,122,4302,704,390
2020-03-24$35.50$35.0064.7%16.6%76.9%52.3%58.6%12.1%-2.0%22.3M-1.22B-28.0M0.6529.99N/AN/A615,330398,3802,269,0702,850,210
2020-03-25$34.49$35.0070.0%17.6%74.6%59.5%60.1%13.8%-2.5%-674.9K-507.1M-27.9M0.4028.29N/AN/A511,910204,3902,330,4302,970,170
2020-03-26$35.69$35.0064.2%15.3%75.8%51.6%53.6%14.7%-3.0%31.4M-1.35B-28.0M0.5028.16N/AN/A611,750304,7702,432,2403,004,850
2020-03-27$36.16$35.0066.2%16.4%74.5%54.3%56.5%15.1%-3.9%74.0M-1.70B-28.3M0.4637.47N/AN/A1,034,600473,5802,477,1803,069,840
2020-03-30$37.25$35.0060.7%14.7%73.4%46.9%51.7%14.0%-2.6%44.6M-2.05B-27.8M0.4929.86N/AN/A775,860376,5002,231,2202,874,010
2020-03-31$37.23$35.0058.0%14.4%73.2%43.2%51.1%13.8%-3.1%49.2M-2.00B-27.7M0.5948.23N/AN/A643,830381,9302,361,1302,991,090