Mixed options sentiment in Netflix with shares down 0.75%

Mixed options sentiment in Netflix (NFLX), with shares down $9.64 near $1279.97. Options volume roughly in line with average with 75k contracts traded and calls leading puts for a put/call ratio of 0.75, compared to a typical level near 0.89. Implied volatility (IV30) dropped 1.02 near 41.92,and above the 52wk median, suggesting an expected daily move of $33.80. Put-call skew flattened, suggesting a modestly bullish tone, following a downgrade to Neutral at Seaport Research.Looking ahead: Netflix (NFLX) will report earnings after the close on 2025-07-17.Option markets are pricing in a 50% probability of a move greater than 7.62% or $97.47.