NFLX Options History — September 2023

In September 2023, NFLX traded between $37.61 and $45.09. ATM implied volatility averaged 38.5%, placing in the 15.8% IV rank vs the trailing year. The 30-day expected move averaged 12.6%. IV traded above realized volatility by 4.6% (HV 20d: 33.9%). Max pain ranged from $40.00 to $43.50. Net GEX was positive for 8 of 20 trading days. Term structure was in contango for 10 of 20 days. Put/call ratio averaged 0.83.

Notable Days

  • 2023-09-13: Highest Volume — 4,026,300 contracts
  • 2023-09-18: Largest IV spike — 15.6% change
  • 2023-09-26: Highest IV Rank — 32.8%
  • 2023-09-27: Largest Expected Move — 14.5%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$40.74$37.61$45.09$43.93$37.64
Max Pain$41.83$40.00$43.50$41.00$40.00
ATM IV38.5%30.1%47.4%30.3%45.3%
Expected Move12.6%8.0%14.5%8.0%14.0%
HV 20d33.9%27.4%39.9%32.8%27.4%
HV 60d36.0%34.9%36.9%35.7%35.6%
IV Rank15.8%0.0%32.8%0.0%28.8%
IV Percentile31.7%0.0%64.7%0.0%55.2%
Term Structure2.1%-2.1%11.8%0.5%-1.9%
VWIV44.2%29.0%50.1%29.0%49.1%
Skew 25d2.8%1.4%4.2%1.4%3.7%
Skew 10d5.4%2.5%7.7%2.5%6.8%
Call IV 25d37.3%29.6%45.6%29.8%44.3%
Put IV 25d40.1%31.2%49.8%31.2%48.0%
Bid-Ask Spread %4.332.285.892.284.41
Gamma HHI0.070.030.260.260.06
Net GEX-317.5K-182.7M328.1M328.1M10.1M
Net DEX-3.10B-7.80B-358.6M-7.15B-773.1M
Net VEX-34.4M-36.1M-33.5M-36.1M-33.5M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.830.551.210.660.66
Total Volume1,774,425767,9204,026,3002,427,2401,740,270
Total OI8,725,099.57,871,8309,803,6509,145,4308,904,760

Daily Data (20 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2023-09-01$43.93$41.0030.3%8.0%32.8%0.0%29.0%1.4%0.5%328.1M-7.15B-36.1M0.662.28N/AN/A1,463,130964,1104,301,7004,843,730
2023-09-05$45.09$43.5032.0%11.9%33.4%3.3%42.7%1.4%0.3%162.8M-7.80B-35.3M0.644.29N/AN/A1,211,330770,0304,028,8904,522,600
2023-09-06$44.52$43.5031.8%11.9%33.7%2.9%42.2%1.8%0.5%124.5M-6.97B-35.5M0.795.26N/AN/A752,120597,8604,266,2304,722,410
2023-09-07$44.34$43.5031.5%11.8%32.9%2.4%42.0%2.2%1.0%114.5M-6.77B-35.5M0.775.89N/AN/A642,390493,6704,258,6904,793,100
2023-09-08$44.20$43.5030.4%11.7%32.9%0.4%41.6%2.0%0.4%110.6M-6.73B-34.8M0.724.27N/AN/A800,710575,3704,330,5704,826,690
2023-09-11$44.66$43.5030.1%11.8%32.4%0.0%42.4%2.0%10.9%102.5M-6.89B-34.1M0.755.31N/AN/A571,320427,3103,908,6304,512,180
2023-09-12$43.47$43.0030.5%11.9%34.0%0.6%42.1%2.1%11.1%31.3M-5.40B-34.4M0.833.86N/AN/A419,700348,2204,010,1104,590,230
2023-09-13$41.13$43.0031.6%12.2%39.5%2.7%42.8%2.6%11.0%-62.8M-2.47B-33.8M1.134.22N/AN/A1,894,2902,132,0104,060,3904,640,560
2023-09-14$40.18$42.5032.9%12.1%39.9%5.2%42.7%2.4%11.6%-125.3M-1.28B-33.8M1.213.55N/AN/A1,643,5901,995,6004,428,1504,878,210
2023-09-15$39.70$42.0035.5%12.3%38.2%10.2%44.3%2.2%11.8%-157.0M-1.03B-34.2M0.933.81N/AN/A1,691,0201,573,5604,775,7205,027,930
2023-09-18$39.38$42.0041.1%12.5%38.2%20.7%45.1%2.9%-1.5%-38.3M-1.53B-33.8M1.053.50N/AN/A679,590716,2003,691,2304,180,600
2023-09-19$39.62$41.5042.6%12.6%38.1%23.7%43.8%3.5%-0.9%-40.9M-1.83B-34.5M0.834.17N/AN/A732,480611,5403,857,2504,425,530
2023-09-20$38.74$41.0044.7%12.8%38.5%27.6%43.1%3.3%-0.9%-94.8M-819.6M-34.0M1.014.64N/AN/A668,000677,0503,974,9404,479,690
2023-09-21$38.45$41.0046.3%13.4%35.6%30.6%47.5%3.4%-1.9%-121.8M-642.5M-34.5M0.824.16N/AN/A1,307,7401,072,5104,105,1904,553,360
2023-09-22$38.05$41.0045.9%13.3%32.1%30.0%46.7%3.6%-1.9%-182.7M-358.6M-34.0M0.844.47N/AN/A947,540796,4204,313,2304,573,460
2023-09-25$38.43$40.5046.4%13.8%31.3%30.8%49.1%3.5%-1.7%-31.2M-1.39B-34.1M0.554.25N/AN/A722,640400,7303,783,7004,336,210
2023-09-26$37.80$40.5047.4%14.4%31.6%32.8%49.9%4.0%-2.1%-40.2M-735.7M-34.2M0.794.41N/AN/A518,450410,9603,953,0004,427,960
2023-09-27$37.76$40.0047.2%14.5%27.8%32.5%48.1%4.2%-1.9%-43.0M-752.2M-34.2M0.885.16N/AN/A550,850485,2304,059,8204,507,710
2023-09-28$37.61$40.0046.9%14.5%27.4%31.8%50.1%4.0%-2.0%-52.9M-661.0M-33.7M0.774.76N/AN/A836,800646,1604,130,4504,517,180
2023-09-29$37.64$40.0045.3%14.0%27.4%28.8%49.1%3.7%-1.9%10.1M-773.1M-33.5M0.664.41N/AN/A1,050,800689,4704,300,3704,604,390