EQREquity Residential
Options Analysis Report•REAL ESTATE INVESTMENT TRUSTS
Market Cap $23.5B|NYSE
● 2026-04-17$62.68
BEARISH
Analysis: 2026-04-16 EOD data
1Y -7.1%YTD +1.0%7D +2.5%
Options Vol
139
30D
Implied Move
±6.7%
IV Rank
11%
EQR Options Overview
IV is low with bearish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.5
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks7/9 checks passed
IV Rank
≤35%IV Rank 3.2% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.38x — IV premium over HV
Sector Relative≤50%
Sector percentile 8% — below sector median
Term Structure
<1.1xFront/Back 1.04x — flat
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 22.6% — normal range
Spread-Adjusted Value
<80%Effective IV 60.0% (ATM 22.6% + spread 18.7% + bias) — good value
Execution Efficiency
<3.0%Total drag 25.36% (spread 18.69% + slippage 6.67%) — high friction
Vega Efficiency
≥5.0Vega efficiency 7.42 (vega 13.864 / spread 18.69%) — efficient
Sentiment
Bullish or bearish?
2.3
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksVery Bearish - Strong signal (Conviction: -40%, Raw: -24%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -40% (strong bearish) — Raw: -24%
OI Skew Magnitude
≥15%|OI skew| 53.0% — put-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -18.0%, OI skew -53.0% — aligned
Conviction Quality
≥2/3 conditions0-DTE 20%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +0%, ATM: +80%, OTM: -73% — strong bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 77% — very bearish vs sector
Activity
Unusual activity?
3.5
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.4x avg — normal
Turnover Rate
≥15%Vol/OI 1.0% — normal turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +8.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 10% — quiet vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 52% — patient
Flow Conviction
≥30Conviction -40 (bearish) — moderate
Liquidity
Can I trade efficiently?
3.2
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks2/8 checks passed
Tradeable Spread
≤5.0%Spread 18.7% — wide
Adequate OI
≥10,000OI 14,462 — adequate
Active Volume
≥500Volume 139/day — thin
Reasonable Cost
≤$0.50$0.93 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 26% — tighter than sector
Order Book Depth
≥100 contractsDepth 65.5 contracts (bid:42.6 ask:22.9) — thin
Execution Quality
<1.0%Avg slippage 6.67% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +4.4% — flat/unclear
IV Percentile Clarity
<30 or >70IV percentile 3% — buyer opportunity
Event Detection
≥10pts kinkIV kink 1.1pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 924.30 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 11d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -40% @ 70% consistency — moderate (bearish)
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.0
bullishIV cheap, bearish flow
Long Puts7.6
bearishIV cheap, bearish flow
Premium Sellers
Cash-Secured Put3.3
bullishIV too cheap, bearish flow
Covered Call5.2
bearishIV too cheap, bearish flow
For educational purposes only. Not investment advice.