NFLX Options History — March 2022

In March 2022, NFLX traded between $33.12 and $39.33. ATM implied volatility averaged 48.3%, placing in the 86.9% IV rank vs the trailing year. The 30-day expected move averaged 13.8%. IV traded above realized volatility by 1.6% (HV 20d: 46.7%). Max pain ranged from $38.00 to $41.00. Net GEX was positive for 1 of 23 trading days. Term structure was in contango for 6 of 23 days. Put/call ratio averaged 0.79.

Notable Days

2022-03-29: Highest Volume — 1,660,180 contracts
2022-03-21: Largest IV spike — 13.3% change
2022-03-07: Highest IV Rank — 100.0%
2022-03-08: Largest Expected Move — 16.6%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$36.65	$33.12	$39.33	$38.51	$37.67
Max Pain	$39.33	$38.00	$41.00	$41.00	$38.00
ATM IV	48.3%	42.4%	53.1%	47.8%	51.3%
Expected Move	13.8%	12.3%	16.6%	14.5%	13.4%
HV 20d	46.7%	37.8%	53.0%	53.0%	47.9%
HV 60d	74.1%	71.7%	76.3%	72.3%	76.3%
IV Rank	86.9%	66.7%	100.0%	94.2%	94.3%
IV Percentile	96.2%	83.3%	100.0%	98.0%	99.2%
Term Structure	0.3%	-3.1%	8.4%	-0.7%	-2.3%
VWIV	48.5%	43.3%	57.8%	51.0%	47.1%
Skew 25d	7.0%	3.8%	10.5%	7.9%	4.3%
Skew 10d	13.4%	7.3%	18.5%	14.8%	8.7%
Call IV 25d	45.2%	36.5%	50.5%	44.4%	50.5%
Put IV 25d	52.2%	42.3%	58.3%	52.3%	54.8%
Bid-Ask Spread %	17.16	5.64	27.16	22.63	20.75
Gamma HHI	0.04	0.03	0.07	0.03	0.04
Net GEX	-50.4M	-114.0M	27.0M	-48.6M	-35.2M
Net DEX	4.38B	1.20B	6.84B	4.41B	2.67B
Net VEX	-36.9M	-40.7M	-32.2M	-40.7M	-38.7M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.79	0.47	1.16	0.95	0.70
Total Volume	895,240.435	507,900	1,660,180	507,900	798,630
Total OI	7,398,553.478	6,368,950	8,000,370	7,461,220	7,444,750

Daily Data (23 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
2022-03-01	$38.51	$41.00	47.8%	14.5%	53.0%	94.2%	51.0%	7.9%	-0.7%	-48.6M	4.41B	-40.7M	0.95	22.63	N/A	N/A	260,480	247,420	3,362,170	4,099,050
2022-03-02	$38.08	$41.00	44.9%	13.4%	44.6%	84.0%	46.7%	6.9%	-0.5%	-65.5M	4.90B	-39.2M	0.71	21.55	N/A	N/A	377,350	269,040	3,403,570	4,152,070
2022-03-03	$36.50	$41.00	47.2%	14.3%	41.9%	91.9%	49.0%	8.0%	-0.7%	-95.8M	5.93B	-36.9M	0.79	27.16	N/A	N/A	521,480	412,430	3,486,520	4,202,480
2022-03-04	$36.07	$41.00	48.9%	14.6%	37.8%	98.1%	50.9%	8.8%	-0.8%	-101.6M	6.13B	-36.7M	0.99	26.97	N/A	N/A	527,160	519,960	3,597,690	4,271,410
2022-03-07	$35.23	$41.00	53.1%	16.5%	37.8%	100.0%	57.2%	9.6%	-1.0%	-78.5M	6.25B	-35.5M	0.96	6.27	N/A	N/A	428,310	409,510	3,353,170	4,094,100
2022-03-08	$34.13	$41.00	52.3%	16.6%	38.5%	97.3%	57.8%	10.5%	0.3%	-93.3M	6.81B	-33.8M	1.04	8.95	N/A	N/A	445,730	463,020	3,402,210	4,202,510
2022-03-09	$35.93	$41.00	48.0%	14.9%	43.7%	83.9%	52.6%	9.0%	-1.1%	-74.4M	5.83B	-36.4M	0.90	5.64	N/A	N/A	456,160	411,090	3,525,280	4,215,670
2022-03-10	$35.84	$40.50	47.8%	14.6%	43.2%	83.6%	51.3%	8.3%	-0.8%	-78.6M	5.79B	-36.8M	0.84	8.07	N/A	N/A	479,660	401,650	3,608,230	4,292,450
2022-03-11	$34.13	$40.00	48.5%	14.7%	45.6%	85.7%	51.6%	7.8%	-0.3%	-114.0M	6.84B	-33.8M	1.16	7.40	N/A	N/A	474,030	550,280	3,683,620	4,304,300
2022-03-14	$33.12	$39.00	51.1%	15.0%	45.5%	93.7%	50.6%	8.4%	2.3%	-86.2M	6.76B	-32.2M	0.94	18.38	N/A	N/A	406,970	381,890	3,429,370	4,121,860
2022-03-15	$34.35	$39.00	47.9%	14.4%	47.5%	83.8%	51.0%	8.1%	6.0%	-75.8M	6.11B	-34.1M	0.77	20.80	N/A	N/A	410,340	315,350	3,539,320	4,173,120
2022-03-16	$35.52	$39.00	45.2%	13.5%	48.6%	75.3%	48.5%	7.0%	6.4%	-55.9M	5.50B	-35.1M	0.80	20.22	N/A	N/A	566,710	451,590	3,612,710	4,211,250
2022-03-17	$37.14	$39.00	44.6%	13.2%	51.6%	73.6%	45.4%	6.8%	7.3%	-17.1M	4.03B	-37.4M	0.62	15.68	N/A	N/A	727,250	452,830	3,669,460	4,225,600
2022-03-18	$37.84	$39.00	42.4%	12.5%	51.6%	66.7%	44.1%	5.8%	8.4%	-5.1M	3.19B	-37.9M	0.73	15.50	N/A	N/A	657,690	479,750	3,734,770	4,265,600
2022-03-21	$37.05	$38.00	48.0%	12.8%	51.8%	84.2%	44.3%	7.4%	-2.2%	-30.0M	3.00B	-36.8M	0.95	19.03	N/A	N/A	376,400	357,630	2,842,410	3,526,540
2022-03-22	$38.33	$38.00	46.9%	12.3%	51.8%	80.5%	43.3%	5.9%	-1.6%	-8.7M	2.17B	-38.3M	0.61	16.52	N/A	N/A	501,730	307,770	2,935,350	3,657,660
2022-03-23	$37.67	$38.00	49.4%	12.7%	51.1%	88.3%	44.3%	6.2%	-1.8%	-19.2M	2.62B	-38.0M	0.65	20.99	N/A	N/A	440,390	285,070	3,025,540	3,676,630
2022-03-24	$37.48	$38.00	48.6%	12.8%	46.9%	86.0%	45.9%	4.9%	-1.4%	-28.4M	2.77B	-38.0M	0.79	18.89	N/A	N/A	365,680	288,250	3,122,110	3,776,600
2022-03-25	$37.23	$38.00	49.7%	13.1%	46.9%	89.4%	46.3%	5.5%	-2.1%	-43.3M	2.96B	-37.6M	0.72	18.46	N/A	N/A	528,100	382,120	3,169,800	3,810,590
2022-03-28	$37.80	$38.00	48.3%	12.7%	47.2%	85.1%	45.0%	5.8%	-1.3%	-21.9M	2.53B	-37.6M	0.61	19.61	N/A	N/A	477,350	289,380	3,054,360	3,697,570
2022-03-29	$39.33	$38.00	49.4%	12.7%	49.0%	88.4%	45.0%	3.9%	-2.5%	27.0M	1.20B	-39.4M	0.47	14.59	N/A	N/A	1,131,200	528,980	3,122,810	3,764,100
2022-03-30	$38.05	$38.00	50.5%	13.1%	50.3%	91.7%	47.0%	3.8%	-3.1%	-10.0M	2.28B	-38.8M	0.55	20.50	N/A	N/A	660,480	366,240	3,342,510	3,957,840
2022-03-31	$37.67	$38.00	51.3%	13.4%	47.9%	94.3%	47.1%	4.3%	-2.3%	-35.2M	2.67B	-38.7M	0.70	20.75	N/A	N/A	468,890	329,740	3,419,650	4,025,100