NFLX Options Profit Calculator
Calculate profit, loss, breakeven, and max gain/loss for Netflix Inc. (NFLX) call and put options at expiration.
Netflix has one of the largest expected moves around earnings among mega-caps, making it a popular straddle and strangle target.
Over the last three months NFLX has been moving at a moderate pace: 36.8% annualized realized volatility (25–45% band). When the chain's IV runs well above this realized figure, sellers are being paid for movement that hasn't been happening; when it's near or below, buyers aren't paying up relative to recent movement.
Quote refreshes every 6h. Use as context — not a real-time price.
IV typically expands into earnings and crushes on the report. Plan your position size and expiration accordingly.
Select option type and position, enter your trade details, then click Calculate P/L to see potential profit/loss at expiration.
For educational purposes only. Not financial advice. Read full disclaimer
Worked Example: Buying a NFLX $67.00 Call
NFLX last quoted at $67.06 (as of October 2, 2026). Take one near-the-money $67.00 call expiring in 30 days, priced with Black-Scholes using NFLX's own 3-month realized volatility of 36.8% (rates and dividends set to zero): a theoretical premium of $2.85 per share, or $285.00 per contract. Real premiums are priced off implied volatility, which usually runs higher — check your broker's quote.
Cost = max loss
$285.00
Breakeven at expiration
$69.85
+4.2% from today
30-day 1σ move at this volatility
±10.6%
| If NFLX at expiration… | Price | P/L (1 contract) | Return |
|---|---|---|---|
| Falls by the 1σ move | $59.99 | −$285.00 | −100.0% |
| Unchanged | $67.06 | −$279.00 | −97.9% |
| Rises by the 1σ move | $74.13 | +$428.50 | +150.4% |
| Rises by the 2σ move | $81.21 | +$1,136.00 | +398.6% |
Breakeven = $67.00 strike + $2.85 premium = $69.85
- To break even, NFLX needs +4.2% by expiration — about 0.39× the ±10.6% one-standard-deviation move the same volatility implies. The premium is the price of that move; direction alone doesn't pay.
- This expiration spans NFLX's earnings on October 20, 2026. Real premiums carry an event premium, so this call would likely cost more than $2.85 — pushing breakeven higher.
Options P/L for Similar Tickers
Compare NFLX Head-to-Head
Trading NFLX Options: Strategies & P/L Patterns
Netflix is a long-premium trader's name as much as a short-premium trader's name. Straddle buyers into subscriber prints have periodically been rewarded enough that the standard short-iron-condor playbook needs wider wings than the implied move alone suggests. Outside of earnings, calendar spreads work well because front-month IV stays rich relative to back months. Covered calls require active management given the stock's tendency for large drifts after each print. Cash-secured puts tie up significant capital given the share price, so put credit spreads are the capital-efficient alternative. Liquidity is excellent in weeklies. When you sell premium here, plan your adjustment rules in advance because waiting until expiration week to react has historically been costly on this name.
Recent NFLX Earnings History
Last 4 quarters of EPS estimate vs actual.
| Quarter | Estimate | Actual | Surprise |
|---|---|---|---|
| Q2 2026 | $0.80 | $0.80 | Miss -0.52% |
| Q1 2026 | $0.78 | $0.70 | Miss -10.15% |
| Q4 2025 | $0.56 | $0.56 | Miss -0.50% |
| Q3 2025 | $0.71 | $0.59 | Miss -17.39% |
EPS values from Finnhub. Refreshes daily.
Options P/L Formulas (at expiration)
Long Call: P/L = max(0, NFLX − Strike) − Premium
Long Put: P/L = max(0, Strike − NFLX) − Premium
Short Call/Put: P/L = Premium − Intrinsic Value
How to Use This Calculator for NFLX
- Select call or put — choose based on which NFLX contract you're analyzing.
- Choose buy or sell — buying NFLX options means you pay the premium; selling means you receive it as credit.
- Enter the strike price — pull this from NFLX's option chain on your broker.
- Enter the premium — the per-share cost. Multiply by 100 to get the total dollar cost or credit per contract.
- Enter the number of contracts — each NFLX options contract covers 100 shares.
- Click Calculate — see breakeven, max profit, max loss, and P/L at various NFLX expiration prices.
Frequently Asked Questions
- How do I calculate P/L on a NFLX call option?
- For a long NFLX call, P/L at expiration = max(0, NFLX price − strike) × 100 − total premium paid. Enter the strike, premium, and number of contracts above to compute it. For short calls, P/L = premium received − max(0, NFLX price − strike) × 100.
- What is the breakeven for a NFLX put?
- For a long NFLX put, breakeven = strike price − premium paid. The position becomes profitable when NFLX closes below this level at expiration. For a short put, the same level applies, but you profit when NFLX stays above it.
- What's the maximum loss when buying NFLX options?
- When you buy NFLX calls or puts, the maximum loss is the premium you paid (per contract × 100 shares). This is the most attractive feature of long options — your downside is capped regardless of how far NFLX moves against you.
- Why are NFLX option premiums so different across strikes?
- NFLX's premiums vary with strike based on implied volatility, time to expiration, and how far the strike is from the current price. At-the-money strikes carry the most time value; out-of-the-money strikes are cheaper but have lower probability of finishing in-the-money.
- Does this calculator show P/L before expiration?
- No — this calculator shows P/L at expiration only. Before expiration, Netflix Inc. option prices include time value (extrinsic premium) that depends on remaining DTE, implied volatility, and the Greeks. For pre-expiration analysis, use a Black-Scholes or Options Greeks calculator.