NFLX Options History — March 2023

In March 2023, NFLX traded between $29.08 and $34.42. ATM implied volatility averaged 47.0%, placing in the 21.6% IV rank vs the trailing year. The 30-day expected move averaged 14.8%. IV traded above realized volatility by 12.0% (HV 20d: 34.9%). Max pain ranged from $31.00 to $35.00. Net GEX was positive for 11 of 23 trading days. Term structure was in contango for 10 of 23 days. Put/call ratio averaged 0.96.

Notable Days

  • 2023-03-24: Highest Volume — 5,945,820 contracts
  • 2023-03-20: Largest IV spike — 12.1% change
  • 2023-03-23: Highest IV Rank — 41.4%
  • 2023-03-28: Largest Expected Move — 16.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$31.26$29.08$34.42$31.43$34.42
Max Pain$32.67$31.00$35.00$32.00$32.00
ATM IV47.0%37.7%56.6%40.6%51.6%
Expected Move14.8%10.5%16.5%11.6%16.1%
HV 20d34.9%28.2%42.7%33.0%42.7%
HV 60d38.7%36.2%40.7%40.6%36.9%
IV Rank21.6%2.6%41.4%8.5%31.2%
IV Percentile31.6%3.2%61.9%7.9%48.4%
Term Structure1.3%-3.0%11.1%-0.4%-2.0%
VWIV51.9%36.9%58.9%40.4%56.8%
Skew 25d5.8%4.1%8.2%4.5%5.2%
Skew 10d11.0%8.0%14.9%9.5%9.7%
Call IV 25d44.3%35.8%54.5%38.6%50.0%
Put IV 25d50.1%39.9%61.0%43.1%55.2%
Bid-Ask Spread %5.171.6716.491.8016.49
Gamma HHI0.060.030.230.040.17
Net GEX6.6M-117.9M239.1M-78.5M171.8M
Net DEX-1.01B-4.62B1.56B-192.1M-4.62B
Net VEX-35.3M-37.7M-32.9M-36.4M-37.6M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.960.601.801.370.79
Total Volume2,094,295.217879,5605,945,8201,651,0202,320,040
Total OI9,168,711.3047,744,04010,117,4809,508,6309,391,040

Daily Data (23 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-03-01$31.43$32.0040.6%11.6%33.0%8.5%40.4%4.5%-0.4%-78.5M-192.1M-36.4M1.371.80N/AN/A695,720955,3004,472,1705,036,460
2023-03-02$31.33$32.0039.0%11.1%29.5%5.4%39.2%4.3%-0.9%-83.2M-195.0M-35.9M1.352.75N/AN/A630,050853,1504,596,0005,047,920
2023-03-03$31.53$32.0037.7%10.5%29.9%2.6%36.9%4.1%-0.2%-44.1M-459.1M-35.6M0.806.63N/AN/A946,340760,0704,672,0405,132,800
2023-03-06$31.30$35.0038.2%13.3%29.6%3.7%46.7%4.4%2.1%-38.3M-551.1M-34.8M0.723.80N/AN/A883,340634,2704,257,0604,765,500
2023-03-07$30.92$34.5039.0%13.5%29.6%5.4%47.8%4.2%0.4%-59.5M-182.6M-34.4M1.062.70N/AN/A632,680670,8604,462,4004,896,620
2023-03-08$31.09$34.5038.7%13.5%29.8%4.6%46.4%4.5%0.6%-39.7M-496.4M-34.8M1.803.09N/AN/A538,430969,2404,574,9104,955,800
2023-03-09$29.62$34.5042.4%14.4%32.0%12.3%49.4%5.2%0.0%-92.3M1.11B-33.6M1.004.53N/AN/A1,057,0201,057,6804,666,6305,028,950
2023-03-10$29.08$34.0045.3%15.1%32.1%18.2%52.0%6.0%0.2%-117.9M1.56B-33.3M1.483.58N/AN/A1,012,0301,493,2504,843,6705,090,800
2023-03-13$29.52$34.0044.9%15.2%31.3%17.4%53.5%7.2%8.5%-48.9M665.9M-33.7M1.033.80N/AN/A549,980567,5604,390,9304,856,170
2023-03-14$29.31$34.0042.4%14.8%28.2%12.3%51.1%6.2%9.1%-54.1M852.0M-32.9M0.762.82N/AN/A977,600739,2004,510,4804,946,830
2023-03-15$30.40$33.5042.5%15.1%32.4%12.6%52.9%6.3%10.3%5.8M-558.3M-34.6M1.063.40N/AN/A1,306,6401,383,7504,708,8605,016,060
2023-03-16$31.08$33.0042.8%14.8%34.0%13.1%52.0%5.6%10.9%50.1M-1.49B-35.1M0.743.86N/AN/A1,291,410951,7104,838,8605,133,570
2023-03-17$30.27$33.0046.5%15.4%34.0%20.6%53.4%6.7%11.1%-8.1M-352.8M-34.3M0.923.08N/AN/A1,077,860991,3304,912,8505,204,630
2023-03-20$30.45$32.0052.1%15.7%34.3%32.2%54.7%8.1%-2.3%550.3K-536.7M-34.5M0.773.47N/AN/A531,670411,9603,684,5904,059,450
2023-03-21$30.68$31.5052.1%15.3%33.7%32.2%55.3%7.8%-2.0%8.8M-740.3M-34.6M0.751.91N/AN/A501,810377,7503,793,0304,165,120
2023-03-22$29.79$31.5055.1%15.8%34.8%38.4%55.4%8.2%-2.8%-31.0M121.8M-33.6M0.853.89N/AN/A798,920678,8003,829,2804,231,370
2023-03-23$31.83$31.0056.6%16.4%42.4%41.4%57.9%6.4%-3.0%81.6M-2.21B-36.0M1.053.34N/AN/A2,330,6902,441,6603,982,5204,331,360
2023-03-24$32.90$31.0056.4%16.4%42.2%40.9%58.3%6.4%-2.9%239.1M-3.51B-37.4M0.609.81N/AN/A3,720,8202,225,0004,278,9404,829,780
2023-03-27$32.81$31.5054.8%16.5%41.4%37.7%58.5%6.0%-1.8%58.0M-2.61B-37.0M0.6910.36N/AN/A1,405,640975,4604,018,5804,414,650
2023-03-28$32.22$31.5054.8%16.5%41.9%37.7%58.9%6.0%-1.8%28.8M-1.92B-36.9M0.996.85N/AN/A945,120932,5404,210,8004,565,640
2023-03-29$33.13$31.5053.7%16.4%41.9%35.5%57.8%5.7%-1.5%77.7M-3.00B-37.4M0.931.67N/AN/A733,530683,2704,265,8704,689,500
2023-03-30$33.94$32.0052.8%16.3%42.5%33.7%57.7%5.1%-2.1%125.3M-4.00B-37.7M0.6515.28N/AN/A1,529,560998,0804,320,6604,799,210
2023-03-31$34.42$32.0051.6%16.1%42.7%31.2%56.8%5.2%-2.0%171.8M-4.62B-37.6M0.7916.49N/AN/A1,297,7901,022,2504,467,2604,923,780