NFLX Options History — May 2023

In May 2023, NFLX traded between $31.79 and $39.50. ATM implied volatility averaged 33.6%, placing in the 4.1% IV rank vs the trailing year. The 30-day expected move averaged 9.9%. IV traded above realized volatility by 0.9% (HV 20d: 32.7%). Max pain ranged from $31.50 to $34.25. Net GEX was positive for 18 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.69.

Notable Days

  • 2023-05-18: Highest Volume — 7,273,930 contracts
  • 2023-05-18: Largest IV spike — 9.2% change
  • 2023-05-30: Highest IV Rank — 14.0%
  • 2023-05-30: Largest Expected Move — 12.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$34.77$31.79$39.50$32.42$39.50
Max Pain$32.74$31.50$34.25$32.75$34.25
ATM IV33.6%31.1%38.7%32.8%38.0%
Expected Move9.9%8.9%12.0%9.5%11.7%
HV 20d32.7%22.0%44.5%27.8%43.3%
HV 60d35.7%33.4%39.3%34.4%39.2%
IV Rank4.1%0.0%14.0%1.4%12.7%
IV Percentile4.7%0.0%17.1%0.4%15.1%
Term Structure0.2%-0.8%1.2%0.1%-0.7%
VWIV35.2%31.8%43.0%33.5%41.8%
Skew 25d3.7%1.1%5.2%4.4%1.1%
Skew 10d7.1%2.1%10.0%8.2%2.1%
Call IV 25d32.2%28.9%39.0%30.8%38.5%
Put IV 25d36.0%33.3%40.5%35.2%39.6%
Bid-Ask Spread %6.752.5817.526.334.25
Gamma HHI0.050.030.150.030.06
Net GEX95.4M-38.2M327.7M-2.4M196.0M
Net DEX-4.05B-8.63B-715.5M-1.47B-8.57B
Net VEX-35.4M-38.0M-33.6M-33.9M-38.0M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.690.331.081.030.70
Total Volume2,217,997.2731,048,0907,273,9301,465,3101,462,860
Total OI9,267,616.3648,430,09010,582,3508,430,0909,628,470

Daily Data (22 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-05-01$32.42$32.7532.8%9.5%27.8%1.4%33.5%4.4%0.1%-2.4M-1.47B-33.9M1.036.33N/AN/A722,540742,7703,972,5604,457,530
2023-05-02$31.79$32.7534.4%10.1%28.1%4.4%35.0%5.0%0.2%-38.2M-715.5M-33.8M0.903.06N/AN/A550,960497,1304,129,3104,638,820
2023-05-03$32.04$32.7533.8%9.8%28.4%3.3%34.1%4.7%0.3%-16.9M-1.07B-33.9M0.925.52N/AN/A654,380600,8904,200,7104,673,990
2023-05-04$32.05$31.5034.3%10.2%28.3%4.2%37.5%5.0%0.5%-29.1M-1.02B-34.0M1.085.76N/AN/A706,950763,5404,268,2104,755,110
2023-05-05$32.24$32.0031.4%9.5%28.4%0.0%33.8%4.4%0.7%24.0M-1.22B-33.6M0.7312.10N/AN/A1,059,730771,6004,328,4704,845,730
2023-05-08$33.16$31.5032.0%9.6%30.4%1.2%33.9%4.2%1.2%62.6M-2.51B-33.9M0.746.67N/AN/A1,107,230817,2904,021,0604,488,500
2023-05-09$33.26$32.0031.9%9.5%30.5%0.9%33.6%4.1%1.1%80.3M-2.66B-34.3M0.788.66N/AN/A983,410771,1204,243,7504,680,970
2023-05-10$33.53$32.0031.2%9.3%29.4%0.0%33.0%4.0%1.2%102.8M-3.06B-34.6M0.818.08N/AN/A833,260677,2304,332,7204,795,830
2023-05-11$34.48$32.5031.9%9.4%26.1%1.3%33.8%3.9%1.1%203.7M-4.58B-35.2M0.695.17N/AN/A1,883,5501,301,9404,408,8304,868,610
2023-05-12$33.96$32.5031.5%9.3%25.6%0.6%33.0%4.1%1.2%109.3M-3.52B-35.1M0.773.45N/AN/A1,801,7201,385,2104,612,8805,108,850
2023-05-15$33.59$32.5032.9%9.5%24.7%3.1%33.5%5.0%-0.2%57.2M-2.71B-34.4M0.883.11N/AN/A593,910520,6804,235,3804,648,520
2023-05-16$33.40$32.5032.4%9.3%24.7%2.1%33.1%5.2%-0.3%34.9M-2.39B-34.3M0.573.24N/AN/A677,300385,1004,355,0704,799,110
2023-05-17$34.03$32.5031.1%8.9%22.0%0.0%31.8%4.3%-0.2%124.5M-3.52B-34.3M0.743.33N/AN/A1,017,260754,3804,444,5404,873,140
2023-05-18$37.19$32.5034.0%9.8%37.7%5.3%35.2%2.5%-0.8%197.2M-8.18B-35.4M0.597.35N/AN/A4,569,1102,704,8204,527,6705,022,450
2023-05-19$36.56$33.0032.4%9.3%38.7%2.2%33.3%3.0%-0.4%129.2M-6.82B-36.6M0.604.84N/AN/A2,087,3701,262,2505,027,4105,554,940
2023-05-22$36.37$33.0032.0%9.4%38.9%1.7%33.1%3.4%0.2%100.4M-4.93B-36.3M0.3411.20N/AN/A1,061,760363,7404,240,1104,604,040
2023-05-23$35.70$33.0033.3%9.7%38.6%3.9%33.9%4.0%1.0%42.4M-3.92B-36.5M0.3817.52N/AN/A1,077,240411,8904,463,5304,762,210
2023-05-24$36.64$33.5035.4%10.5%39.2%7.9%37.2%3.7%-0.2%147.9M-5.51B-37.5M0.3316.04N/AN/A1,015,450332,1504,695,5104,888,270
2023-05-25$35.91$33.5034.9%10.3%40.1%6.9%36.2%3.4%-0.1%55.2M-4.25B-37.3M0.532.58N/AN/A1,419,290745,0604,900,4805,061,560
2023-05-26$37.84$33.7537.8%11.4%43.5%12.3%40.3%1.3%-0.6%327.7M-7.83B-37.8M0.504.53N/AN/A3,190,1801,591,6505,000,4205,107,170
2023-05-30$39.39$34.0038.7%12.0%44.5%14.0%43.0%1.5%-0.8%191.0M-8.63B-37.4M0.485.78N/AN/A1,976,880943,1604,498,0504,717,070
2023-05-31$39.50$34.2538.0%11.7%43.3%12.7%41.8%1.1%-0.7%196.0M-8.57B-38.0M0.704.25N/AN/A858,790604,0704,741,8204,886,650