ORealty Income Corporation
Options Analysis Report•REAL ESTATE INVESTMENT TRUSTS
Market Cap $60.7B|NYSE
● 2026-04-17$65.09
BULLISH
Analysis: 2026-04-16 EOD data
1Y +12.3%YTD +13.6%7D +2.1%
Options Vol
5,601
30D
Implied Move
±4.6%
IV Rank
34%
O Options Overview
IV is low with bullish flow. 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 Checks7/9 checks passed
IV Rank
≤35%IV Rank 0.4% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.33x — IV premium over HV
Sector Relative≤50%
Sector percentile 0% — below sector median
Term Structure
<1.1xFront/Back 0.82x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 19.5% — normal range
Spread-Adjusted Value
<80%Effective IV 48.9% (ATM 19.5% + spread 14.7% + bias) — excellent value
Execution Efficiency
<3.0%Total drag 19.58% (spread 14.72% + slippage 4.86%) — high friction
Vega Efficiency
≥5.0Vega efficiency 16.09 (vega 23.688 / spread 14.72%) — efficient
Sentiment
Bullish or bearish?
6.5
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Strong signal (Conviction: -1%, Raw: -13%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -1% (neutral) — Raw: -13%
OI Skew Magnitude
≥15%|OI skew| 17.6% — call-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +57.4%, OI skew +17.6% — aligned
Conviction Quality
≥2/3 conditions0-DTE 32%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -26%, ATM: -16%, OTM: -3% — bearish (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 23% — very bullish vs sector
Activity
Unusual activity?
4.9
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 1.4x avg — normal
Turnover Rate
≥15%Vol/OI 4.1% — 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 +4.6% (5d) — building
Sector Relative≥60%
Sector activity percentile 74% — active vs sector
Trade Quality
≥30%Large trade volume 40% — institutional presence
Execution Urgency
≥60%Aggressive execution 30% — patient
Flow Conviction
≥30Conviction -1 (bearish) — mixed
Liquidity
Can I trade efficiently?
3.9
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 14.7% — wide
Adequate OI
≥10,000OI 137,151 — deep
Active Volume
≥500Volume 5,601/day — active
Reasonable Cost
≤$0.50$0.74 to cross — expensive
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 19% — much tighter than sector
Order Book Depth
≥100 contractsDepth 237.39999999999998 contracts (bid:164.2 ask:73.2) — adequate
Execution Quality
<1.0%Avg slippage 4.86% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -17.6% — contango
IV Percentile Clarity
<30 or >70IV percentile 0% — buyer opportunity
Event Detection
≥10pts kinkIV kink -3.7pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 2960.94 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 19d (low 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 70 (ITM 20% + inst 40%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls7.0
bullishIV cheap, bullish flow
Long Puts5.4
bearishIV cheap, bullish flow
Premium Sellers
Cash-Secured Put5.0
bullishIV too cheap, bullish flow
Covered Call4.0
bearishIV too cheap, bullish flow
For educational purposes only. Not investment advice.