01 — NFLX · BEAR CALL SPREADS

Best NFLX bear call spreads 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.

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Netflix
Communication Services
NFLX
$62.05-10.8% / 30d
IV rank (1y)
43.1% · moderate
Next earnings
Jan 19
Market cap
$258.4B
P/E (fwd)
16.4
Option vol
131K /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 · credit spread
$64/$66 call spread · Nov 20
22 DAYS · 3.2% OTM · 2 WIDE · SELL TO OPEN
Credit
$53
Return
36.05%
PoP
63%
SpreadExpirationCreditReturn ↓PoP
$64 / $66
3.2% OTM · 2 wide
Nov 27
29 days
$53
$0.53 / share
36.05%60%
$65 / $67
4.9% OTM · 2 wide
Dec 4
36 days
$48
$0.48 / share
31.58%65%
$65 / $67
4.9% OTM · 2 wide
Nov 27
29 days
$47
$0.47 / share
30.72%67%
$66 / $68
6.5% OTM · 2 wide
Nov 27
29 days
$45
$0.45 / share
29.03%73%
$65 / $67.5
4.9% OTM · 3 wide
Nov 20
22 days
$55
$0.55 / share
28.21%70%
$66 / $68
6.5% OTM · 2 wide
Dec 4
36 days
$42
$0.42 / share
26.58%70%
7 of 7 matchesCustomize filters →

03 — Strategy

Bear Call Spreads, plainly explained

Moderately bearish or neutral traders seeking defined-risk credit income.

P&L at expiration · $64/$66 call spread · 22 DTE

$0+$53−$147$66 LONG$64.53 BE$64 SHORT

Key numbers

Premium collected+$53
Max profit+$53
Max loss−$147
Breakeven$64.53
Spread$64 / $66
Probability of profit63%
Days to expiration22

When this trade makes sense

Use when

    Avoid when

      Read the full bear call spreads guide →

      05 — RUN IT LIVE

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      Option Agent scans live chains and recommends setups based on current market conditions.

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      Option Agent is not a registered investment advisor, broker-dealer, or financial planner. All analysis, recommendations, and data are for informational and educational purposes only and do not constitute personalized investment advice. Options trading involves substantial risk of loss and is not suitable for all investors. Past probability calculations do not guarantee future results. Consult a qualified financial advisor before making investment decisions.