DLRDigital Realty Trust, Inc.
Options Analysis Report•REAL ESTATE INVESTMENT TRUSTS
Market Cap $70.0B|NYSE
● 2026-04-17$203.62
BEARISH
Analysis: 2026-04-16 EOD data
1Y +39.1%YTD +31.3%7D +7.8%
Options Vol
2,562
30D
Implied Move
±10.3%
IV Rank
39%
DLR Options Overview
bearish flow. No clear edge detected.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.9
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks4/9 checks passed
IV Rank
≤35%IV Rank 48.4% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.59x — IV premium over HV
Sector Relative≤50%
Sector percentile 76% — above sector median
Term Structure
<1.1xFront/Back 1.49x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 35.5% — normal range
Spread-Adjusted Value
<80%Effective IV 44.6% (ATM 35.5% + spread 4.5% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 5.75% (spread 4.55% + slippage 1.20%) — high friction
Vega Efficiency
≥5.0Vega efficiency 218.27 (vega 99.313 / spread 4.55%) — efficient
Sentiment
Bullish or bearish?
3.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: -1%, Raw: -0%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -1% (neutral) — Raw: -0%
OI Skew Magnitude
≥15%|OI skew| 46.5% — put-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew -51.4%, OI skew -46.5% — aligned
Conviction Quality
≥2/3 conditions0-DTE 8%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +2%, ATM: +25%, OTM: -31% — bullish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 90% — very bearish vs sector
Activity
Unusual activity?
4.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 1.6x avg — elevated
Turnover Rate
≥15%Vol/OI 6.0% — 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 +5.9% (5d) — building
Sector Relative≥60%
Sector activity percentile 87% — very active vs sector
Trade Quality
≥30%Large trade volume 0% — mostly retail
Execution Urgency
≥60%Aggressive execution 7% — patient
Flow Conviction
≥30Conviction -1 (bearish) — mixed
Liquidity
Can I trade efficiently?
5.1
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 4.5% — acceptable
Adequate OI
≥10,000OI 42,915 — adequate
Active Volume
≥500Volume 2,562/day — adequate
Reasonable Cost
≤$0.50$0.23 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 81% — much wider than sector
Order Book Depth
≥100 contractsDepth 34.2 contracts (bid:17.6 ask:16.6) — thin
Execution Quality
<1.0%Avg slippage 1.20% — fair
Timing
Is now a good time?
6.4
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks5/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +48.7% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 48% — neutral
Event Detection
≥10pts kinkIV kink 12.9pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 3288.51 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)caution advised: Earnings in 6d (elevated risk)
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -1% @ 51% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 30 (ITM 20% + inst 0%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.3
bullishIV expensive, bearish flow
Long Puts5.4
bearishIV expensive, bearish flow
Premium Sellers
Cash-Secured Put5.0
bullishIV rich premium, bearish flow
Covered Call6.1
bearishIV rich premium, bearish flow
For educational purposes only. Not investment advice.