01 — NFLX · COVERED CALLS

Best NFLX covered calls setups.

Pick how long you want to wait and how much risk you'll take. We score every live strike across the next 3 expirations and surface the top setups — updated hourly.

High-beta single name with violent post-earnings repricing tied to subscriber numbers and pricing actions.

Find the best strikes →FREE · 20 ANALYSES/DAY · NO CARD
Netflix
Communication Services
NFLX
$62.08-10.8% / 30d
IV rank (1y)
42.9% · moderate
Next earnings
Jan 19
Market cap
$258.5B
P/E (fwd)
16.5
Option vol
84K /day

02 — Live setups

Suggested strikes

Choose your time horizon and risk band. Every match is scored on return, premium, and probability of profit.

Days to expiration
Probability of profit
Sort by
Top pick
$64 call · Nov 27
27 DAYS · 3.1% OTM · SELL TO OPEN
Credit
$157
Return
2.53%
PoP
60%
StrikeExpirationCreditReturn ↓PoP
$65
4.7% OTM
Dec 4
34 days
$135
$1.35 / share
2.17%64%
$65
4.7% OTM
Nov 27
27 days
$121
$1.21 / share
1.95%67%
$66
6.3% OTM
Dec 4
34 days
$117
$1.17 / share
1.88%70%
$66
6.3% OTM
Nov 27
27 days
$94
$0.94 / share
1.51%72%
$120
93.3% OTM
Dec 4
34 days
$4
$0.04 / share
0.06%70%
$110
77.2% OTM
Dec 4
34 days
$0
$0.00 / share
0%70%
$115
85.2% OTM
Dec 4
34 days
$0
$0.00 / share
0%70%
$125
101.3% OTM
Dec 4
34 days
$0
$0.00 / share
0%70%
$130
109.4% OTM
Dec 4
34 days
$0
$0.00 / share
0%70%
10 of 10 matchesCustomize filters →

03 — Strategy

Covered Calls, plainly explained

Neutral-to-mildly bullish traders focused on steady premium collection.

P&L at expiration · $64 call · 27 DTE

$0+$349losses$60.51 BREAKEVEN$64 STRIKE

Key numbers

Premium collected+$157
Max profit+$349
Breakeven$60.51
Capped above$64
Probability of profit60%
Days to expiration27

When this trade makes sense

Use when

  • ✓You already own 100+ shares of the stock
  • ✓You'd be fine selling at the strike price
  • ✓You think the stock goes flat or slightly up
  • ✓IV rank is elevated — premiums are rich

Avoid when

  • ✕You think the stock is about to rip higher
  • ✕You're attached to the shares (tax, conviction)
  • ✕Earnings are inside the expiration window
  • ✕Premiums are unusually low — nothing to collect
Read the full covered calls guide →

05 — RUN IT LIVE

See the highest chance of profit on NFLX.

Alpha Hawk scans live chains and recommends setups based on current market conditions.

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