NFLX Options History — December 2025

In December 2025, NFLX traded between $93.03 and $109.50. ATM implied volatility averaged 35.7%, placing in the 24.6% IV rank vs the trailing year. The 30-day expected move averaged 9.0%. IV traded above realized volatility by 0.8% (HV 20d: 35.0%). Max pain ranged from $90.00 to $102.00. Net GEX was positive for 7 of 22 trading days. Term structure was in contango for 12 of 22 days. Put/call ratio averaged 0.87.

Notable Days

2025-12-05: Highest Volume — 1,230,251 contracts
2025-12-22: Largest IV spike — 14.9% change
2025-12-29: Highest IV Rank — 38.2%
2025-12-08: Largest Expected Move — 10.4%

Monthly Statistics

Metric	Avg	Min	Max	Open	Close
Price	$96.80	$93.03	$109.50	$109.11	$93.82
Max Pain	$95.80	$90.00	$102.00	$102.00	$90.00
ATM IV	35.7%	28.5%	42.3%	28.8%	41.3%
Expected Move	9.0%	7.4%	10.4%	8.7%	7.4%
HV 20d	35.0%	29.8%	39.4%	32.6%	29.8%
HV 60d	35.9%	34.3%	36.4%	34.3%	36.2%
IV Rank	24.6%	10.4%	38.2%	11.1%	35.9%
IV Percentile	59.1%	35.7%	77.0%	37.7%	68.3%
Term Structure	2.0%	-2.1%	11.7%	0.9%	-2.1%
VWIV	32.0%	26.5%	36.9%	30.7%	26.5%
Skew 25d	1.0%	-0.2%	2.5%	2.2%	0.2%
Skew 10d	1.6%	-1.7%	5.6%	5.6%	0.9%
Call IV 25d	35.6%	27.7%	43.0%	28.1%	41.5%
Put IV 25d	36.6%	30.0%	43.0%	30.2%	41.7%
Bid-Ask Spread %	27.49	5.39	65.84	8.48	6.71
Gamma HHI	0.04	0.03	0.10	0.03	0.04
Net GEX	-42.7M	-188.8M	97.1M	48.7M	19.8M
Net DEX	-1.02B	-7.40B	2.29B	-7.05B	-820.9M
Net VEX	-57.5M	-62.2M	-54.4M	-62.2M	-54.6M
Div Yield	0.0%	0.0%	0.0%	0.0%	0.0%
P/C Ratio	0.87	0.37	2.67	0.44	2.53
Total Volume	524,483.273	204,046	1,230,251	204,046	586,794
Total OI	6,309,355.045	5,460,607	7,047,280	6,170,688	5,531,744

Daily Data (22 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
2025-12-01	$109.11	$102.00	28.8%	8.7%	32.6%	11.1%	30.7%	2.2%	0.9%	48.7M	-7.05B	-62.2M	0.44	8.48	N/A	N/A	141,509	62,537	2,815,785	3,354,903
2025-12-02	$109.50	$102.00	28.5%	8.7%	31.9%	10.4%	30.4%	2.3%	-0.5%	78.8M	-7.40B	-62.0M	0.90	10.12	N/A	N/A	115,334	103,284	2,841,916	3,366,225
2025-12-03	$103.84	$101.50	32.5%	10.2%	37.0%	18.8%	36.1%	2.5%	-0.6%	-112.4M	-3.08B	-59.9M	0.60	38.70	N/A	N/A	412,317	249,272	2,857,648	3,404,048
2025-12-04	$103.28	$98.00	34.0%	9.8%	36.9%	22.0%	34.1%	2.1%	-0.0%	-74.6M	-3.14B	-60.7M	0.57	65.84	N/A	N/A	283,753	161,575	2,965,292	3,451,463
2025-12-05	$100.18	$98.50	32.3%	9.5%	38.1%	18.3%	33.4%	1.7%	0.5%	-188.8M	-894.8M	-58.3M	0.61	62.89	N/A	N/A	764,093	466,158	3,046,931	3,491,848
2025-12-08	$96.86	$99.00	35.8%	10.4%	39.3%	25.3%	36.7%	1.1%	1.1%	-130.2M	319.8M	-57.7M	0.59	59.56	N/A	N/A	573,810	338,634	3,004,912	3,476,688
2025-12-09	$97.05	$98.50	33.8%	9.9%	38.3%	20.9%	35.1%	0.7%	0.5%	-101.5M	-90.2M	-59.4M	0.46	55.43	N/A	N/A	330,201	153,221	3,192,509	3,553,509
2025-12-10	$93.03	$98.00	34.5%	10.3%	39.4%	22.3%	36.7%	0.9%	1.8%	-141.7M	2.29B	-56.1M	0.59	15.17	N/A	N/A	464,788	275,331	3,267,357	3,576,689
2025-12-11	$93.91	$98.00	35.3%	10.3%	38.4%	23.3%	36.9%	-0.2%	0.7%	-81.7M	1.19B	-58.7M	0.71	38.11	N/A	N/A	428,742	304,941	3,419,395	3,582,452
2025-12-12	$95.06	$97.50	34.9%	10.1%	39.2%	22.4%	35.1%	0.2%	0.6%	27.8M	-345.2M	-59.6M	0.37	55.58	N/A	N/A	493,667	181,728	3,492,926	3,554,354
2025-12-15	$93.60	$97.00	34.5%	9.9%	38.1%	21.7%	34.8%	0.7%	8.5%	-82.5M	768.5M	-57.1M	0.43	56.77	N/A	N/A	275,438	118,531	3,270,829	3,477,510
2025-12-16	$94.52	$96.50	33.1%	9.5%	38.7%	18.6%	33.4%	1.0%	9.3%	-50.4M	-11.5M	-58.3M	0.53	8.99	N/A	N/A	214,567	112,718	3,345,959	3,485,406
2025-12-17	$94.70	$95.00	32.3%	9.3%	35.4%	17.0%	32.4%	1.9%	9.6%	-34.3M	-463.3M	-57.1M	0.54	51.90	N/A	N/A	335,415	182,365	3,382,412	3,451,387
2025-12-18	$94.00	$95.00	33.1%	8.9%	33.8%	18.6%	31.1%	1.3%	11.1%	-81.8M	109.1M	-55.6M	1.63	17.02	N/A	N/A	268,949	439,221	3,417,578	3,430,014
2025-12-19	$94.94	$94.50	34.0%	8.5%	32.1%	20.6%	29.5%	1.1%	11.7%	-102.3M	-1.40B	-56.2M	0.84	16.14	N/A	N/A	297,524	249,532	3,459,067	3,359,057
2025-12-22	$93.16	$93.50	39.1%	8.2%	32.4%	31.4%	29.2%	0.7%	-1.5%	-33.7M	412.3M	-55.1M	0.45	6.14	N/A	N/A	265,334	118,245	2,678,023	2,855,524
2025-12-23	$93.13	$92.00	40.3%	8.0%	32.4%	33.8%	29.1%	0.9%	-1.4%	-23.3M	159.5M	-55.2M	0.82	6.65	N/A	N/A	163,752	133,743	2,752,215	2,875,422
2025-12-24	$93.44	$91.00	41.9%	7.9%	32.6%	37.3%	27.4%	0.4%	-1.6%	-4.2M	-380.6M	-56.0M	2.67	5.92	N/A	N/A	126,339	337,323	2,792,745	2,869,337
2025-12-26	$94.34	$90.00	42.0%	7.8%	31.9%	37.4%	28.9%	-0.0%	-1.7%	97.1M	-1.11B	-55.7M	0.50	5.97	N/A	N/A	262,533	130,372	2,817,579	2,862,758
2025-12-29	$94.18	$90.00	42.3%	7.8%	31.0%	38.2%	28.1%	-0.1%	-1.4%	18.1M	-990.7M	-55.5M	0.71	5.39	N/A	N/A	142,727	100,923	2,637,196	2,823,411
2025-12-30	$93.91	$90.00	41.6%	7.6%	30.0%	36.5%	27.6%	0.3%	-1.2%	13.3M	-596.5M	-54.4M	1.69	7.30	N/A	N/A	138,072	233,320	2,664,496	2,849,292
2025-12-31	$93.82	$90.00	41.3%	7.4%	29.8%	35.9%	26.5%	0.2%	-2.1%	19.8M	-820.9M	-54.6M	2.53	6.71	N/A	N/A	166,357	420,437	2,689,697	2,842,047