Netflix Stock Pulls Back, Calls Heat Up

Group 1 - The stock of streaming giant NFLX is currently trading at its lowest levels since 2025, near a significant buildup of put open interest at the 80 strike price [1] - The max pain point has shifted higher to 90 through the April expiration, which has been providing support for recent price action [1] - The front-month gamma-weighted Schaeffer's open interest ratio (SOIR) stands at 1.26, suggesting a potential beginning of a rebound for the stock [2] Group 2 - The Schaeffer's Volatility Index (SVI) is at 36%, placing it in the 8th percentile of its annual range, indicating that premiums are affordably priced following a post-earnings volatility crush [2] - A recommended April call option has a leverage ratio of 6.9, which means it will double with a 15.1% increase in the underlying equity [3]