NFLX Options Chain Analysis

Delayed CBOE data, snapshot 2026-08-17. Spot $76.05.

Put/Call (OI)

0.82

2.5M P / 3.1M C

Put/Call (Volume)

0.52

90k P / 173k C today

30d ATM IV

32%

annualized implied move

Call wall

$100

262k contracts

Put wall

186k contracts

Tail hedging

0.7×

deep-OTM puts vs calls

What the positioning says

●Call wall at $100 (262k contracts), 31% above spot — the upside strike the crowd is already parked on; often acts as near-term resistance.
●Put wall at $5 (186k contracts), 93% below spot — the hedge floor; often acts as support.

Open interest by strike

All expiries combined. Amber lines mark the call and put walls; the dashed line is spot.

IV term structure

At-the-money implied volatility per expiry.

Volatility smile

IV by strike — expiry 2026-09-18. A steep left side = expensive downside protection.

30-day implied volatility history

Daily ATM IV (~30 DTE bucket) collected since March 2026. Rising IV into an event = the market bracing; collapsing IV after = the crush.

Open interest by expiry

Expiry	Call OI	Put OI	P/C	Volume today
2026-08-21	526k	268k	0.51	117k
2026-08-28	40k	20k	0.49	23k
2026-09-04	20k	9k	0.43	8k
2026-09-11	10k	4k	0.43	5k
2026-09-18	436k	249k	0.57	44k
2026-09-25	6k	3k	0.49	4k
2026-10-02	2k	506	0.26	3k
2026-10-16	154k	88k	0.57	11k
2026-11-20	91k	130k	1.42	7k
2026-12-18	275k	341k	1.24	9k
2027-01-15	797k	823k	1.03	16k
2027-03-19	107k	68k	0.63	3k
2027-06-17	148k	209k	1.41	4k
2027-12-17	157k	96k	0.61	3k
2028-01-21	195k	111k	0.57	3k
2028-06-16	42k	25k	0.60	3k
2028-12-15	80k	75k	0.94	2k

Source: CBOE delayed quotes, refreshed daily after US market close. Open interest is exchange-reported and lags one session. Research, not investment advice.