Options/ARE

AREAlexandria Real Estate Equities, Inc.

Options Analysis Report•REAL ESTATE INVESTMENT TRUSTS

Market Cap $8.9B|NYSE

● 2026-08-28$51.57

BEARISH

Analysis: 2026-08-27 EOD data

1Y -36.3%YTD +5.3%7D -3.6%

Options Vol

3,642

30D

Implied Move

±11.2%

IV Rank

ARE Options Overview

IV is elevated with bearish flow. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

Snowflake Analysis

Favorable conditions for premium sellers

Learn

Loading score history...

ARE Gamma Walls

Loading gamma walls...

ARE Hedge Radar

Hedge window open

Full Hedge Radar

Fragility reads high; protection is priced cheap. Neither axis is a forecast — this is where ARE sits on protection cost vs. fragility today.

Protection is priced in the cheap band (2.71) — downside puts carry 1.6 IV points more than at-the-money, and implied vol sits in the 16th percentile of its own past year, measured against this name's own rolling 22-trading-day realized moves (482 overlapping windows). Fragility reads fragile (6.63): it is trading 7% below its hedge wall on a wall graded HIGH for reliability, and its realized-vol regime is stable.

Protection cost

2.71/ 10cheap

Basis: cross_sectional

Fragility

6.63/ 10fragile

Basis: per_ticker

Value

Is IV priced right?

6.0

ExpensiveCheap

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

levels.

Risk Checks4/9 checks passed

IV Rank

≤35%

IV Rank 75.6% — elevated vs history

IV/HV Ratio

<1.05x

IV/HV 0.69x — IV ≤ HV

Sector Relative≤50%

Sector percentile 96% — above sector median

Term Structure

<1.1x

Front/Back 0.99x — contango

Skew Normal

<1.25x

Put/Call IV 1.16x — elevated

Absolute IV

<80%

ATM IV 39.5% — normal range

Spread-Adjusted Value

<80%

Effective IV 84.5% (ATM 39.5% + spread 22.5% + bias) — expensive

Execution Efficiency

<3.0%

Total drag 27.58% (spread 22.50% + slippage 5.08%) — high friction

Vega Efficiency

≥5.0

Vega efficiency 3.39 (vega 7.625 / spread 22.50%) — spread drag

Sentiment

Bullish or bearish?

0.6

BearishBullish

Analyzes

put/call ratios

open interest skew

, and flow direction to determine market bias.

Risk ChecksVery Bearish - Moderate signal (Conviction: -99%, Raw: -97%)

Flow Direction

|net sentiment| ≥25%

Conviction-weighted: -99% (strong bearish) — Raw: -97%

OI Skew Magnitude

≥15%

|OI skew| 2.1% — balanced

Volume-OI Alignment

Same sign, |vol skew| ≥10%

Vol skew -19.9%, OI skew +2.1% — divergent (opposite)

Conviction Quality

≥2/3 conditions

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

OI Momentum

|change| ≥3%

OI change +0.0% (5d) — stable

Smart Money Flow

|weighted flow| ≥20%

ITM: +50%, ATM: +53%, OTM: -98% — strong bullish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 65% — bearish vs sector

Activity

Unusual activity?

5.0

QuietActive

Detects volume surges,

block trades

, and unusual options activity that may signal moves.

Risk Checks3/8 checks passed

Volume Surge

≥1.5x

Volume 1.3x avg — normal

Turnover Rate

≥15%

Vol/OI 7.3% — normal turnover

Multi-Day Persistence

≥2 days

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

OI Build

≥5%

OI change -15.3% (5d) — unwinding

Sector Relative≥60%

Sector activity percentile 90% — very active vs sector

Trade Quality

≥30%

Large trade volume 93% — heavy institutional

Execution Urgency

≥60%

Aggressive execution 24% — patient

Flow Conviction

≥30

Conviction -99 (bearish) — strong conviction

Liquidity

Can I trade efficiently?

3.0

IlliquidLiquid

Evaluates

bid-ask spreads

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

Risk Checks3/8 checks passed

Tradeable Spread

≤5.0%

Spread 22.5% — wide

Adequate OI

≥10,000

OI 49,761 — adequate

Active Volume

≥500

Volume 3,642/day — adequate

Reasonable Cost

≤$0.50

$1.12 to cross — expensive

Strike Coverage

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 97% — much wider than sector

Order Book Depth

≥100 contracts

Depth 169.0 contracts (bid:92.3 ask:76.7) — adequate

Execution Quality

<1.0%

Avg slippage 5.08% — poor

Timing

Is now a good time?

7.8

RiskyFavorable

Considers earnings proximity,

time decay

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed

Term Structure Clarity

|slope| ≥5%

Slope -0.5% — flat/unclear

IV Percentile Clarity

<30 or >70

IV percentile 76% — seller opportunity

Event Detection

≥10pts kink

IV kink 0.6pts — no clear event

Theta/Vega Clarity

<0.5 or >2.0

θ/ν ratio 323.08 — favors income trades

Expiration Distribution

≥3 expirations

3 liquid expirations — flexible

Event Risk

≥60% (safe)

safe window: No events detected

Spread Momentum

<1.2 ratio

Spread ratio 1.00x — stable

Flow Momentum

≥25% strength + ≥50% consistency

Flow -99% @ 99% consistency — STRONG directional (bearish)

Smart Money Timing

≥40 composite score

Score 123 (ITM 20% + inst 93%) — HIGH institutional

Directional Strategy Fit

Option Buyers

Long Calls3.9

bullishIV fair, bearish flow

Long Puts7.0

bearishIV fair, bearish flow

Premium Sellers

Cash-Secured Put3.2

bullishIV fair, bearish flow

Covered Call5.8

bearishIV fair, bearish 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.

More on ARE

ARE gamma walls ARE max pain ARE IV rank ARE options flow