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MAAMid-America Apartment Communities, Inc.

Options Analysis Report•REAL ESTATE INVESTMENT TRUSTS
Market Cap $15.0B|NYSE
● 2026-08-31$129.61
BEARISH
Analysis: 2026-08-28 EOD data
1Y -8.9%YTD -6.8%7D -2.7%
518
30D
±5.5%
9%

MAA Options Overview

IV is low with bearish flow. Conditions favor option buyers.

REWARDS

RISK ANALYSIS

5.5VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for option buyers

Learn
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MAA Gamma Walls

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Value

Is IV priced right?

8.5
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks7/9 checks passed
≤35%

IV Rank 9.9% — cheap vs history

<1.05x

IV/HV 1.25x — IV premium over HV

Sector Relative≤50%

Sector percentile 17% — below sector median

<1.1x

Front/Back 0.88x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 21.6% — normal range

<80%

Effective IV 62.3% (ATM 21.6% + spread 20.4% + bias) — good value

<3.0%

Total drag 28.06% (spread 20.35% + slippage 7.71%) — high friction

≥5.0

Vega efficiency 24.98 (vega 50.825 / spread 20.35%) — efficient

Sentiment

Bullish or bearish?

4.1
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksBullish - Strong signal (Conviction: +17%, Raw: +7%)
|net sentiment| ≥25%

Conviction-weighted: +17% (bullish) — Raw: +7%

≥15%

|OI skew| 27.6% — put-heavy

Same sign, |vol skew| ≥10%

Vol skew -94.2%, OI skew -27.6% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +0%, ATM: +98%, OTM: -18% — strong bullish (ITM/ATM divergent)

Sector Relative≤40% or ≥60%

Sector P/C percentile 96% — very bearish vs sector

Activity

Unusual activity?

4.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks1/8 checks passed
≥1.5x

Volume 1.3x avg — normal

≥15%

Vol/OI 8.1% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +2.8% (5d) — building

Sector Relative≥60%

Sector activity percentile 86% — very active vs sector

≥30%

Large trade volume 19% — mixed

≥60%

Aggressive execution 42% — patient

≥30

Conviction +17 (bullish) — mixed

Liquidity

Can I trade efficiently?

3.3
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks2/8 checks passed
≤5.0%

Spread 20.4% — wide

≥10,000

OI 6,435 — thin

≥500

Volume 518/day — adequate

≤$0.50

$1.02 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 34% — tighter than sector

≥100 contracts

Depth 46.2 contracts (bid:24.3 ask:21.9) — thin

<1.0%

Avg slippage 7.71% — poor

Timing

Is now a good time?

7.4
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -11.5% — contango

<30 or >70

IV percentile 10% — buyer opportunity

≥10pts kink

IV kink -2.8pts — no clear event

<0.5 or >2.0

θ/ν ratio 3630.34 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow +17% @ 58% consistency — unclear

≥40 composite score

Score 49 (ITM 20% + inst 19%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls6.0
bullishIV cheap, mixed flow
Long Puts7.5
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put3.6
bullishIV too cheap, mixed flow
Covered Call4.3
bearishIV too cheap, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

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