NFLX Options History — January 2025

In January 2025, NFLX traded between $82.69 and $97.92. ATM implied volatility averaged 37.3%, placing in the 56.6% IV rank vs the trailing year. The 30-day expected move averaged 9.6%. IV traded above realized volatility by 5.9% (HV 20d: 31.5%). Max pain ranged from $68.00 to $88.00. Net GEX was positive for 12 of 20 trading days. Term structure was in contango for 7 of 20 days. Put/call ratio averaged 0.80.

Notable Days

2025-01-22: Highest Volume — 5,313,500 contracts
2025-01-22: Largest IV drop — 41.3% change
2025-01-14: Highest IV Rank — 89.1%
2025-01-14: Largest Expected Move — 12.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$90.48	$82.69	$97.92	$88.61	$97.57
Max Pain	$83.08	$68.00	$88.00	$68.00	$88.00
ATM IV	37.3%	24.3%	46.7%	46.0%	25.1%
Expected Move	9.6%	6.9%	12.4%	7.7%	6.9%
HV 20d	31.5%	20.9%	42.8%	23.7%	40.9%
HV 60d	30.3%	24.6%	32.4%	31.6%	30.8%
IV Rank	56.6%	11.0%	89.1%	86.8%	14.0%
IV Percentile	61.1%	6.7%	96.0%	93.7%	16.3%
Term Structure	-1.5%	-3.8%	0.5%	-2.1%	0.1%
VWIV	33.9%	24.9%	43.3%	27.1%	24.9%
Skew 25d	1.1%	0.1%	2.1%	0.9%	1.6%
Skew 10d	2.6%	0.5%	4.4%	2.2%	3.3%
Call IV 25d	37.1%	24.3%	46.5%	46.5%	24.3%
Put IV 25d	38.2%	24.9%	48.0%	47.4%	25.9%
Bid-Ask Spread %	27.98	15.08	46.38	46.38	19.15
Gamma HHI	0.08	0.03	0.41	0.04	0.08
Net GEX	149.4M	-243.0M	612.6M	-142.3M	312.6M
Net DEX	-8.90B	-14.38B	-4.59B	-7.51B	-10.47B
Net VEX	-34.8M	-38.8M	-30.9M	-34.2M	-38.4M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.80	0.35	1.22	1.20	0.56
Total Volume	1,538,120.5	586,060	5,313,500	911,440	1,833,300
Total OI	5,519,865	3,747,990	6,213,670	5,714,030	5,468,380

Daily Data (20 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
2025-01-02	$88.61	$68.00	46.0%	7.7%	23.7%	86.8%	27.1%	0.9%	-2.1%	-142.3M	-7.51B	-34.2M	1.20	46.38	N/A	N/A	414,210	497,230	2,429,920	3,284,110
2025-01-03	$88.49	$70.00	44.9%	7.1%	23.0%	82.9%	25.3%	1.3%	-2.3%	-40.2M	-8.15B	-33.8M	1.05	43.18	N/A	N/A	456,890	480,460	2,484,760	3,285,390
2025-01-06	$87.77	$83.00	45.4%	11.6%	22.8%	84.6%	41.0%	1.0%	-1.7%	-31.0M	-8.40B	-33.9M	1.05	26.12	N/A	N/A	380,350	397,860	2,282,520	3,105,710
2025-01-07	$87.75	$83.00	46.0%	11.7%	22.0%	86.8%	41.1%	1.0%	-2.4%	-27.9M	-8.43B	-34.7M	1.22	17.75	N/A	N/A	264,040	322,020	2,400,700	3,225,140
2025-01-08	$87.57	$83.00	45.1%	11.7%	20.9%	83.8%	40.9%	0.7%	-2.0%	-48.5M	-8.34B	-34.3M	0.94	20.86	N/A	N/A	339,640	319,000	2,443,720	3,269,620
2025-01-10	$83.58	$83.00	46.1%	12.0%	26.0%	87.0%	42.2%	1.8%	-3.5%	-243.0M	-4.59B	-33.4M	1.03	19.24	N/A	N/A	779,810	800,290	2,512,080	3,299,820
2025-01-13	$83.57	$83.00	46.2%	12.2%	24.2%	87.6%	42.6%	0.9%	-2.8%	-67.3M	-6.04B	-33.6M	1.15	15.08	N/A	N/A	290,530	333,720	2,398,700	3,202,320
2025-01-14	$82.69	$83.00	46.7%	12.4%	24.2%	89.1%	43.3%	1.8%	-2.7%	-80.3M	-5.52B	-33.7M	1.07	19.19	N/A	N/A	383,660	409,710	2,464,300	3,254,450
2025-01-15	$85.00	$83.00	44.6%	12.0%	26.9%	82.0%	42.0%	1.4%	-3.0%	34.7M	-7.75B	-33.7M	0.70	21.16	N/A	N/A	547,740	385,750	2,574,850	3,324,190
2025-01-16	$84.77	$83.00	45.3%	12.2%	26.8%	84.4%	42.3%	1.6%	-3.4%	16.1M	-7.70B	-33.8M	0.65	26.39	N/A	N/A	668,620	437,050	2,686,260	3,374,880
2025-01-17	$86.04	$83.00	44.5%	12.0%	27.6%	81.7%	42.1%	1.1%	-3.8%	338.4M	-9.12B	-33.9M	0.60	24.95	N/A	N/A	801,220	478,240	2,779,670	3,418,050
2025-01-21	$86.85	$83.00	43.5%	12.3%	25.6%	78.1%	43.2%	0.2%	-2.5%	63.0M	-4.92B	-33.2M	0.75	25.66	N/A	N/A	1,432,980	1,077,200	1,723,610	2,024,380
2025-01-22	$95.34	$83.00	25.5%	7.3%	41.8%	15.5%	26.3%	0.1%	0.1%	548.0M	-14.38B	-30.9M	0.68	30.05	N/A	N/A	3,171,890	2,141,610	2,619,740	2,548,310
2025-01-23	$97.92	$85.00	25.6%	7.3%	42.7%	15.8%	26.1%	0.3%	-0.0%	612.6M	-13.92B	-33.5M	0.62	34.04	N/A	N/A	2,054,800	1,275,990	2,905,860	2,980,760
2025-01-24	$97.47	$86.00	24.3%	6.9%	42.8%	11.0%	24.9%	0.6%	0.3%	383.7M	-12.61B	-35.1M	0.73	32.73	N/A	N/A	1,446,830	1,054,110	2,993,500	3,220,170
2025-01-27	$96.77	$87.50	25.9%	7.4%	42.4%	16.9%	26.4%	1.7%	0.1%	219.9M	-9.25B	-36.7M	0.68	33.46	N/A	N/A	727,830	494,100	2,262,920	2,541,240
2025-01-28	$97.22	$88.00	25.3%	7.2%	42.3%	14.6%	25.4%	1.5%	0.5%	315.5M	-9.87B	-37.2M	0.46	32.59	N/A	N/A	691,360	319,870	2,377,440	2,640,490
2025-01-29	$97.46	$88.00	25.6%	7.3%	41.3%	15.6%	25.8%	2.1%	0.2%	386.7M	-10.62B	-38.2M	0.35	46.34	N/A	N/A	914,100	324,230	2,485,170	2,720,290
2025-01-30	$97.24	$88.00	25.1%	7.1%	41.3%	13.8%	25.0%	1.1%	0.0%	437.2M	-10.44B	-38.8M	0.44	25.35	N/A	N/A	1,124,790	489,380	2,610,110	2,773,770
2025-01-31	$97.57	$88.00	25.1%	6.9%	40.9%	14.0%	24.9%	1.6%	0.1%	312.6M	-10.47B	-38.4M	0.56	19.15	N/A	N/A	1,172,100	661,200	2,622,590	2,845,790