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Relying on a qualitative study with gay men living with HIV in France, this article aims to shed light on the social contexts of reflexivity in prevention behaviors. While the epidemic is characterized as “out of control” by public health authorities, this article focuses on how HIV-positive gay men deal with health, social, and moral risks in the era of antiretroviral treatments. This analysis shows that the perception of danger is a dynamic process, involving the perception of self-vulnerability and the level of control regarding HIV risks. Underlying the role of social context, this article highlights various mechanisms of reflexivity.