NFLX Options Signal Strong Bullish Sentiment at $100–$105—Here’s How to Play the Breakout

Here’s the quick version:

• Current NFLX price at $99.615, just off the intraday high of $100.35
• Strong call OI at $100 and $105 ahead of Friday’s expiration
• RSI at 63, MACD above signal line—short-term bullish trend intact

Netflix is showing signs of a potential breakout today—especially with options activity pointing to heavy call buying at $100–$105. Traders are clearly positioning for a short-term pop, and while long-term fundamentals are more mixed, the immediate bias is up. This is the kind of setup that makes sense for a limited-time play before expiration on Friday.

Looking at the options chain, the top call strikes with the most open interest this Friday are $100 (20,961 contracts), $101 (13,018), and $105 (12,949). That’s a tight cluster of bullish positioning right around the current price. The $100 call is especially telling—just $0.39 above today’s price, but with heavy OI, suggesting that many traders expect a move to touch or surpass this level by Friday.

On the put side, while there’s still some protection at $95 and $99, the total open interest is slightly lighter than calls (put/call ratio at 0.95). That means the market is leaning more bullish than bearish for now. The heavy concentration of calls at the $100–$105 range suggests traders are either buying to delta hedge long NFLX positions or betting on a quick pop above $100.

Block trading hasn’t shown any whale moves today, so the options activity is mostly retail and institutional positioning rather than a single large trade. Still, the sheer volume of open interest at the $100 and $105 calls indicates that there’s likely a lot of liquidity at those levels should the price break through.

Netflix has had a mixed bag of news recently. On the upside, the company announced a new premium tier, record content investments, and expanded international operations. Bank of America and JPMorgan have upgraded the stock, citing strong earnings and a long-term growth outlook. But on the flip side, the stock has lost 5% of its U.S. subscriber base, and the share price has dipped 10% in early trading after that news.

Yet here’s the key: the market is responding to near-term optimism—like the new premium tier and AI-driven personalization—rather than the subscriber loss. The new features are expected to boost average revenue per user and improve retention, which means the company could still grow profitably despite a slower subscriber gain. This mix of news gives traders a green light for a short-term bounce, especially with the technicals already leaning bullish.

If you’re looking to play the near-term strength in NFLX, here are two solid setups:

Buy to Open the NFLX20260410C100 Call at $1.10–$1.15. This is the top call on the board for Friday’s expiration. The stock is already near the strike, and with RSI at 63 and MACD positive, a move above $100 would give the call a clear shot at profit. If NFLX closes above $100 on Friday, this option could easily go from $1.10 to $1.80 or more.

Buy NFLX stock at $99.30–$99.50, aiming to catch a bounce off the 30D support range of $98.72–$99.05. With the price already near the 30D moving average of $94.89 and the 200D at $664.33 still out of reach, the near-term target is $100.35 (the intraday high). A break above $100.35 could take the stock to $102–$105, where the next resistance lines up with the 100D moving average of $123.89.

For those with a slightly longer time horizon, the NFLX20260417C105 Call is also worth watching. With $12,949 contracts in open interest, this is a key level for next Friday’s expiration. If the stock can hold above $100 and close near $105 by April 17, the option could see strong gamma action and a significant price move.

The key takeaway is this: Netflix is sitting at a psychological level—$100—with a mix of short-term bullish momentum and long-term uncertainty. The options market is pricing in a near-term move up, and the news flow supports it. While long-term bearish trends like the 200D moving average remain in play, the immediate environment looks favorable for a short-to-mid-term pop.

If you're a trader looking for a high-probability move, NFLX20260410C100 is a smart play right now. If you're an investor with a bit more patience, buying at $99.30–$99.50 gives you the chance to ride a bounce that could carry into next week. The key is to act quickly—options are ticking down, and the market doesn’t wait.