Net gamma exposure by strike ($M per 1% move) · estimated from the NFLX options chain (Polygon).
These are the 6 strikes carrying the most dealer gamma in NFLX right now. The heaviest is 60 at -10.3M per 1% move, 3.4% below spot — that is where hedging flow concentrates, and where price tends to slow down or stall.
| Strike | Net gamma | From spot | Effect |
|---|---|---|---|
| 67.5 | -2.1M | 8.7% | accelerates moves |
| 65 | -3.4M | 4.7% | accelerates moves |
| 63 | +3.6M | 1.5% | pins price |
| 60 | -10.3M | -3.4% | accelerates moves |
| 59 | -3.5M | -5.0% | accelerates moves |
| 58 | -9.6M | -6.6% | accelerates moves |
As of the latest session, NFLX is trading at $62.08 (-0.13% on the day). Net dealer gamma is negative, with the zero-gamma flip near —. The call wall sits at 63 (upside magnet / resistance) and the put wall at 60 (downside level). Max pain is 66, and the options market is pricing a 1-sigma expected move of about ±4.3% (ATM IV 41%).
One strike dominates the map: 60, carrying −$10M per 1% move — below the current price. Negative gamma that size behaves like an accelerant — dealers chase price through it rather than defending it.
The options market is pricing a 1-sigma move of ±4.3% (±$2.69) into the nearest expiry, with ATM implied volatility at 41% — neither stretched nor giving anything away.
Spot is effectively at the 63 call wall (+1.48% away), the top of a 60–63 band worth 4.8% of price. This is where hedging flow does the most work: expect supply into strength until the wall is decisively cleared.
Want it interactive? Open NFLX on the live gamma map → · see how NFLX compares across the whole board on the free market regime tracker · new to this? What is GEX →
NFLX is in positive gamma with — of room above the null flip. Dealers are damping moves, so expect a mean-reverting tape that pulls back toward the heavy strikes.
NFLX's flip isn't resolvable from the current chain — check the live map for today's level.
NFLX's flip is not resolvable from the current chain. Pull it live on the free map — the level moves with open interest, so a stale number is worse than none.
NFLX's call wall (63) is a magnet and resistance; the put wall (60) is support in positive gamma but a through-level once price is below the flip.
66, for the 2026-11-06 expiry — 4 days out. Spot is $62.08, so max pain sits 6.3% above the current price. In negative gamma the pull is weak: dealers are amplifying moves, not damping them toward a strike.
About -24M per 1% move into the 2026-11-06 expiry — though spot is below the zero-gamma flip, so hedging at this price runs with the move and adds to it. GEX describes the character of the tape, not the direction. How dealer gamma works →
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Estimated from the NFLX options chain (Polygon) · gamma shifts intraday · educational, not financial advice · options carry substantial risk.
