Jun. 2 at 12:16 AM
$NFLX and
$NFXL saw heavy 6/5 call flow all the way up to the
$90 strikes get absolutely slammed in volume today.
What makes this stand out is not just the size, but the context — this is happening even on a red day for the underlying, which usually tells you positioning is getting more aggressive on the options side rather than passive hedging.
We’ve already been seeing elevated June and July activity, so this just adds another layer to the tape.
When you get repeated bursts like this across expiries, it usually turns into one of those “everyone watches after the move” situations rather than before it.
Definitely one to keep on the radar this week from a flow vs price divergence standpoint.
