NFLX Options History — May 2022

In May 2022, NFLX traded between $16.60 and $20.35. ATM implied volatility averaged 59.6%, placing in the 82.8% IV rank vs the trailing year. The 30-day expected move averaged 17.3%. IV traded below realized volatility by 65.3% (HV 20d: 124.9%). Max pain ranged from $21.50 to $28.00. Net GEX was positive for 6 of 21 trading days. Term structure was in contango for 1 of 21 days. Put/call ratio averaged 0.82.

Notable Days

2022-05-06: Highest Volume — 2,304,800 contracts
2022-05-05: Largest IV spike — 17.0% change
2022-05-09: Highest IV Rank — 100.0%
2022-05-11: Largest Expected Move — 20.1%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$18.59	$16.60	$20.35	$19.75	$19.75
Max Pain	$23.44	$21.50	$28.00	$22.75	$21.50
ATM IV	59.6%	50.3%	70.9%	59.4%	54.1%
Expected Move	17.3%	14.9%	20.1%	17.9%	16.3%
HV 20d	124.9%	65.5%	172.0%	165.5%	65.5%
HV 60d	105.5%	102.6%	107.5%	102.6%	107.4%
IV Rank	82.8%	59.9%	100.0%	97.2%	66.4%
IV Percentile	94.9%	83.3%	100.0%	98.4%	86.1%
Term Structure	-0.9%	-2.1%	0.5%	-0.9%	-1.5%
VWIV	61.0%	54.2%	70.8%	64.2%	55.7%
Skew 25d	9.1%	7.1%	11.6%	8.3%	7.1%
Skew 10d	18.1%	14.9%	22.0%	17.9%	14.9%
Call IV 25d	55.9%	47.7%	66.8%	55.3%	50.6%
Put IV 25d	65.0%	55.4%	77.2%	63.6%	57.6%
Bid-Ask Spread %	3.59	1.49	5.03	4.65	1.49
Gamma HHI	0.05	0.03	0.22	0.04	0.05
Net GEX	-7.4M	-55.3M	58.9M	-18.6M	14.6M
Net DEX	4.19B	2.54B	5.45B	4.95B	2.54B
Net VEX	-21.8M	-24.2M	-18.5M	-23.5M	-23.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.82	0.54	1.19	0.82	0.64
Total Volume	1,607,351.429	883,520	2,304,800	1,549,190	1,634,470
Total OI	11,543,346.667	10,161,010	12,412,240	11,491,540	10,380,280

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
2022-05-02	$19.75	$22.75	59.4%	17.9%	165.5%	97.2%	64.2%	8.3%	-0.9%	-18.6M	4.95B	-23.5M	0.82	4.65	N/A	N/A	851,010	698,180	6,291,080	5,200,460
2022-05-03	$19.93	$22.50	56.9%	17.1%	162.7%	91.0%	60.5%	8.8%	-0.5%	-13.5M	4.85B	-24.0M	0.78	4.53	N/A	N/A	805,530	626,310	6,465,180	5,320,980
2022-05-04	$20.35	$22.50	50.3%	15.2%	163.8%	74.3%	55.3%	7.9%	0.5%	-3.5M	4.61B	-24.2M	0.58	4.48	N/A	N/A	1,208,860	699,230	6,551,630	5,386,910
2022-05-05	$18.76	$28.00	58.8%	16.6%	164.8%	95.9%	58.0%	9.1%	-0.6%	-39.3M	5.24B	-21.1M	0.65	4.66	N/A	N/A	1,314,680	855,440	6,755,670	5,327,380
2022-05-06	$18.10	$26.00	58.7%	16.7%	164.6%	95.6%	59.6%	9.6%	-0.4%	-55.3M	5.45B	-20.3M	1.01	5.03	N/A	N/A	1,146,480	1,158,320	7,019,510	5,392,730
2022-05-09	$17.36	$25.00	66.0%	18.6%	164.5%	100.0%	64.9%	11.6%	-0.9%	-26.2M	5.25B	-19.3M	0.86	4.53	N/A	N/A	915,570	790,250	6,395,510	5,078,000
2022-05-10	$17.70	$25.00	67.2%	19.0%	165.6%	100.0%	66.5%	11.2%	-0.8%	-18.5M	4.99B	-20.8M	0.67	3.04	N/A	N/A	934,160	629,600	6,604,480	5,174,100
2022-05-11	$16.60	$25.00	70.9%	20.1%	165.8%	100.0%	70.5%	10.4%	-0.8%	-26.4M	5.15B	-18.5M	0.87	2.70	N/A	N/A	828,880	722,070	6,706,450	5,169,870
2022-05-12	$17.27	$24.00	68.9%	19.5%	166.9%	95.9%	70.8%	10.5%	-1.2%	-16.6M	4.66B	-20.4M	1.14	4.83	N/A	N/A	826,200	945,020	6,869,420	5,115,800
2022-05-13	$18.72	$24.00	61.2%	17.4%	171.9%	80.6%	60.6%	9.1%	-0.8%	6.6M	3.91B	-22.8M	0.83	3.08	N/A	N/A	1,128,470	933,060	6,972,080	5,278,000
2022-05-16	$18.61	$24.00	61.8%	17.7%	172.0%	81.6%	62.2%	8.5%	-1.8%	-10.8M	4.14B	-22.3M	0.57	3.54	N/A	N/A	1,258,420	712,340	6,518,890	5,032,840
2022-05-17	$19.00	$23.50	55.5%	15.9%	171.2%	69.2%	55.6%	8.5%	-1.2%	-1.3M	3.98B	-22.7M	0.54	4.76	N/A	N/A	943,870	507,670	6,860,750	5,157,160
2022-05-18	$17.74	$23.00	62.7%	18.0%	69.9%	83.5%	62.6%	9.0%	-2.1%	-19.6M	4.54B	-20.1M	0.85	3.37	N/A	N/A	715,220	606,330	6,968,850	5,159,260
2022-05-19	$18.43	$22.50	58.5%	16.8%	72.0%	75.1%	58.7%	8.9%	-1.6%	-5.8M	4.05B	-21.1M	0.98	3.09	N/A	N/A	681,980	666,170	7,090,800	5,105,670
2022-05-20	$18.49	$22.50	58.9%	17.0%	72.1%	75.9%	63.4%	8.9%	-1.9%	5.5M	3.98B	-21.3M	0.96	4.50	N/A	N/A	919,300	882,740	7,140,460	5,162,160
2022-05-23	$18.59	$22.50	58.8%	17.3%	71.6%	75.8%	59.5%	9.8%	-0.8%	-2.6M	3.46B	-21.8M	1.19	2.19	N/A	N/A	583,600	696,680	5,604,580	4,556,430
2022-05-24	$18.08	$22.00	59.6%	17.7%	70.5%	77.3%	60.6%	9.8%	-0.8%	-6.9M	3.57B	-20.9M	0.92	3.08	N/A	N/A	459,640	423,880	5,760,290	4,653,650
2022-05-25	$18.69	$22.00	59.1%	17.4%	69.1%	76.3%	61.6%	9.0%	-0.6%	4.0M	3.12B	-22.3M	0.95	3.43	N/A	N/A	588,200	558,730	5,829,910	4,683,850
2022-05-26	$19.11	$22.00	54.7%	16.2%	66.9%	67.6%	56.8%	8.4%	-0.3%	18.7M	2.85B	-23.1M	0.62	2.51	N/A	N/A	768,200	475,110	5,982,570	4,782,560
2022-05-27	$19.46	$22.00	50.9%	14.9%	66.1%	59.9%	54.2%	7.8%	-0.0%	58.9M	2.61B	-23.1M	0.70	1.86	N/A	N/A	971,690	682,820	6,082,670	4,821,410
2022-05-31	$19.75	$21.50	54.1%	16.3%	65.5%	66.4%	55.7%	7.1%	-1.5%	14.6M	2.54B	-23.6M	0.64	1.49	N/A	N/A	998,250	636,220	5,755,520	4,624,760