NFLX Options History — February 2025

In February 2025, NFLX traded between $96.45 and $106.22. ATM implied volatility averaged 27.3%, placing in the 21.8% IV rank vs the trailing year. The 30-day expected move averaged 7.9%. IV traded below realized volatility by 5.6% (HV 20d: 32.9%). Max pain ranged from $86.50 to $90.00. Net GEX was positive for 14 of 19 trading days. Term structure was in contango for 10 of 19 days. Put/call ratio averaged 0.78.

Notable Days

  • 2025-02-04: Highest Volume — 2,029,400 contracts
  • 2025-02-27: Largest IV spike — 12.0% change
  • 2025-02-27: Highest IV Rank — 43.8%
  • 2025-02-27: Largest Expected Move — 10.0%

Monthly Statistics

MetricAvgMinMaxOpenClose
Price$100.90$96.45$106.22$98.00$97.54
Max Pain$88.55$86.50$90.00$89.00$90.00
ATM IV27.3%25.2%33.7%26.3%32.4%
Expected Move7.9%7.3%10.0%7.5%9.5%
HV 20d32.9%22.8%40.7%40.7%26.7%
HV 60d30.7%30.3%31.1%30.8%31.0%
IV Rank21.8%14.3%43.8%18.2%39.4%
IV Percentile37.1%16.7%64.3%32.9%63.5%
Term Structure0.1%-0.7%0.6%-0.1%-0.6%
VWIV28.2%26.0%35.1%26.3%33.0%
Skew 25d2.2%0.5%5.2%1.7%4.2%
Skew 10d4.5%2.2%9.1%3.1%8.8%
Call IV 25d26.5%24.8%31.4%25.7%30.5%
Put IV 25d28.7%25.6%36.6%27.3%34.7%
Bid-Ask Spread %51.4133.8059.5833.8046.46
Gamma HHI0.060.020.140.060.04
Net GEX198.6M-235.0M613.8M220.3M-92.0M
Net DEX-10.54B-16.61B-3.96B-9.60B-5.39B
Net VEX-40.3M-44.2M-38.3M-38.4M-43.7M
Div Yield0.0%0.0%0.0%0.0%0.0%
P/C Ratio0.780.511.100.571.10
Total Volume1,145,670.526586,6702,029,4001,072,4501,026,110
Total OI5,060,697.8954,411,3605,558,0804,553,1405,032,710

Daily Data (19 trading days)

DatePriceMax PainATM IVExp MoveHV 20dIV RankVWIVSkew 25dTerm StrGEXDEXVEXP/CSpread %Call WallPut WallCall VolPut VolCall OIPut OI
2025-02-03$98.00$89.0026.3%7.5%40.7%18.2%26.3%1.7%-0.1%220.3M-9.60B-38.4M0.5733.80N/AN/A685,180387,2702,101,0502,452,090
2025-02-04$99.08$89.0026.2%7.3%40.7%17.7%26.0%1.3%0.2%328.7M-10.93B-38.4M0.5153.89N/AN/A1,344,530684,8702,229,9802,556,200
2025-02-05$100.67$90.0026.3%7.4%40.5%18.1%26.6%0.5%-0.1%450.7M-13.04B-39.0M0.5648.33N/AN/A926,340523,0202,391,9902,731,430
2025-02-06$101.20$86.5025.4%7.4%40.4%15.1%26.8%0.6%0.0%520.8M-13.91B-39.2M0.5449.16N/AN/A881,880478,4102,501,3802,844,840
2025-02-07$101.53$86.5025.7%7.6%40.3%16.0%27.2%1.4%0.5%613.8M-13.96B-39.8M0.7349.73N/AN/A993,010727,9102,543,2102,946,810
2025-02-10$102.90$87.0025.9%7.6%34.9%16.7%27.2%1.7%0.5%326.2M-12.86B-39.4M0.9852.37N/AN/A468,650460,8802,177,0102,650,350
2025-02-11$100.90$87.0025.4%7.4%36.3%14.9%26.5%2.0%0.5%151.6M-10.92B-39.9M0.6751.92N/AN/A498,970334,2902,253,0602,804,310
2025-02-12$102.35$87.0025.2%7.3%35.6%14.3%26.2%1.7%0.3%352.6M-12.96B-39.4M0.6953.59N/AN/A617,960427,5602,343,3102,854,050
2025-02-13$104.44$87.0025.3%7.3%35.2%14.6%26.5%1.1%0.4%522.5M-15.05B-39.1M1.0157.15N/AN/A626,390631,1102,385,4602,965,280
2025-02-14$106.22$87.5025.2%7.3%34.9%14.3%26.8%1.2%0.6%551.9M-16.61B-38.3M0.9059.01N/AN/A864,110779,0802,416,8403,054,160
2025-02-18$102.83$88.0027.3%7.8%38.2%21.8%28.2%1.8%-0.2%141.7M-11.41B-39.3M0.9057.55N/AN/A623,450561,7402,193,4702,804,720
2025-02-19$104.02$89.0026.5%7.6%38.2%18.8%27.4%1.5%-0.2%235.0M-12.65B-40.2M0.7559.58N/AN/A335,960250,7102,345,3002,957,760
2025-02-20$102.36$89.5025.9%7.4%22.8%16.8%26.3%1.9%0.4%19.9M-10.79B-40.6M0.6856.48N/AN/A565,210387,0102,382,0303,026,510
2025-02-21$100.14$89.5027.9%8.0%22.8%23.8%28.2%3.7%-0.2%-235.0M-8.26B-40.9M0.8955.73N/AN/A695,670619,7202,472,6703,085,410
2025-02-24$99.62$90.0028.9%8.3%22.8%27.2%29.2%3.2%-0.1%-54.9M-6.46B-40.8M0.9051.44N/AN/A371,810335,8201,894,4602,516,900
2025-02-25$97.67$90.0030.0%8.9%23.8%31.2%30.7%3.8%-0.4%-125.3M-4.93B-42.4M0.7744.29N/AN/A539,970415,3801,979,0902,607,020
2025-02-26$99.18$90.0030.0%8.9%24.4%31.3%31.9%2.9%0.5%21.9M-6.62B-43.3M0.7349.98N/AN/A446,650325,5702,106,2302,636,930
2025-02-27$96.45$90.0033.7%10.0%26.4%43.8%35.1%5.2%-0.7%-176.1M-3.96B-44.2M1.0246.39N/AN/A458,920466,6202,180,4002,728,840
2025-02-28$97.54$90.0032.4%9.5%26.7%39.4%33.0%4.2%-0.6%-92.0M-5.39B-43.7M1.1046.46N/AN/A489,630536,4802,261,8902,770,820