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VICIVICI Properties Inc. Common Stock

Options Analysis Report•REAL ESTATE INVESTMENT TRUSTS
Market Cap $28.5B|NYSE
● 2026-08-31$25.87
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y -22.4%YTD -8.1%7D -3.4%
3,909
30D
±8.6%
19%

VICI Options Overview

bearish flow. No clear edge detected.

REWARDS

RISK ANALYSIS

5.2VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Balanced conditions with no clear edge

Learn
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VICI Gamma Walls

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Value

Is IV priced right?

6.7
ExpensiveCheap

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

levels.

Risk Checks6/9 checks passed
≤35%

IV Rank 50.0% — elevated vs history

<1.05x

IV/HV 1.00x — IV ≤ HV

Sector Relative≤50%

Sector percentile 50% — below sector median

<1.1x

Front/Back 1.00x — flat

<1.25x

Put/Call IV 1.00x — normal

<80%

ATM IV 0.0% — normal range

<80%

Effective IV 16.5% (ATM 0.0% + spread 8.2% + bias) — excellent value

<3.0%

Total drag 11.11% (spread 8.25% + slippage 2.86%) — high friction

≥5.0

Vega efficiency 0.00 (vega 0.000 / spread 8.25%) — spread drag

Sentiment

Bullish or bearish?

4.4
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksNeutral - Weak signal (Conviction: +1%, Raw: -7%)
|net sentiment| ≥25%

Conviction-weighted: +1% (neutral) — Raw: -7%

≥15%

|OI skew| 23.7% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew -63.8%, OI skew +23.7% — divergent (opposite)

≥2/3 conditions

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

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: +6%, ATM: +2%, OTM: -37% — neutral (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 85% — very bearish vs sector

Activity

Unusual activity?

4.3
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 1.1x avg — normal

≥15%

Vol/OI 4.1% — normal turnover

≥2 days

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

≥5%

OI change +13.5% (5d) — building

Sector Relative≥60%

Sector activity percentile 79% — active vs sector

≥30%

Large trade volume 21% — mixed

≥60%

Aggressive execution 23% — patient

≥30

Conviction +1 (bullish) — mixed

Liquidity

Can I trade efficiently?

4.8
IlliquidLiquid

Evaluates

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

Risk Checks5/8 checks passed
≤5.0%

Spread 8.2% — wide

≥10,000

OI 96,281 — deep

≥500

Volume 3,909/day — adequate

≤$0.50

$0.41 to cross — cheap

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 0% — much tighter than sector

≥100 contracts

Depth 465.0 contracts (bid:219.9 ask:245.1) — adequate

<1.0%

Avg slippage 2.86% — poor

Timing

Is now a good time?

5.6
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks4/9 checks passed
|slope| ≥5%

Slope +0.0% — flat/unclear

<30 or >70

IV percentile 50% — neutral

≥10pts kink

IV kink 0.0pts — no clear event

<0.5 or >2.0

θ/ν ratio 1.00 — favors mixed

≥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 +1% @ 50% consistency — unclear

≥40 composite score

Score 51 (ITM 20% + inst 21%) — moderate institutional

Directional Strategy Fit

Option Buyers
Long Calls5.5
bullishIV cheap, mixed flow
Long Puts5.9
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.3
bullishIV too cheap, mixed flow
Covered Call4.7
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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