FRTFederal Realty Investment Trust
Options Analysis Report•REAL ESTATE INVESTMENT TRUSTS
Market Cap $9.7B|NYSE
● 2026-04-17$112.53
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +21.9%YTD +13.6%7D +3.2%
Options Vol
185
30D
Implied Move
±5.5%
IV Rank
11%
FRT Options Overview
IV is low. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.1
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 3.0% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.40x — IV premium over HV
Sector Relative≤50%
Sector percentile 4% — below sector median
Term Structure
<1.1xFront/Back 0.85x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 22.5% — normal range
Spread-Adjusted Value
<80%Effective IV 85.9% (ATM 22.5% + spread 31.7% + bias) — expensive
Execution Efficiency
<3.0%Total drag 45.55% (spread 31.72% + slippage 13.83%) — high friction
Vega Efficiency
≥5.0Vega efficiency 3.88 (vega 12.322 / spread 31.72%) — spread drag
Sentiment
Bullish or bearish?
5.0
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksBearish - Moderate signal (Conviction: -20%, Raw: -27%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -20% (bearish) — Raw: -27%
OI Skew Magnitude
≥15%|OI skew| 8.5% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +93.5%, OI skew -8.5% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 91%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -100%, ATM: -26%, OTM: -20% — strong bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 0% — very bullish vs sector
Activity
Unusual activity?
3.6
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks1/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 2.4% — 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 +11.3% (5d) — building
Sector Relative≥60%
Sector activity percentile 48% — neutral vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 46% — patient
Flow Conviction
≥30Conviction -20 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks1/8 checks passed
Tradeable Spread
≤5.0%Spread 31.7% — wide
Adequate OI
≥10,000OI 7,621 — thin
Active Volume
≥500Volume 185/day — thin
Reasonable Cost
≤$0.50$1.59 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 23% — tighter than sector
Order Book Depth
≥100 contractsDepth 34.4 contracts (bid:19.0 ask:15.4) — thin
Execution Quality
<1.0%Avg slippage 13.83% — poor
Timing
Is now a good time?
7.0
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -15.1% — contango
IV Percentile Clarity
<30 or >70IV percentile 3% — buyer opportunity
Event Detection
≥10pts kinkIV kink -2.2pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 284.58 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)acceptable: Earnings in 14d
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -20% @ 60% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls5.7
bullishIV cheap, mixed flow
Long Puts5.8
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.3
bullishIV too cheap, mixed flow
Covered Call4.3
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.