SPGSimon Property Group, Inc.
Options Analysis Report•REAL ESTATE INVESTMENT TRUSTS
Market Cap $67.0B|NYSE
● 2026-04-17$206.23
NEUTRAL
Analysis: 2026-04-16 EOD data
1Y +40.1%YTD +12.1%7D +2.8%
Options Vol
1,117
30D
Implied Move
±7.3%
IV Rank
29%
SPG Options Overview
IV is low with bullish flow. Conditions favor option buyers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
7.3
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 7.2% — cheap vs history
IV/HV Ratio
<1.05xIV/HV 1.05x — IV ≤ HV
Sector Relative≤50%
Sector percentile 20% — below sector median
Term Structure
<1.1xFront/Back 1.06x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 24.7% — normal range
Spread-Adjusted Value
<80%Effective IV 52.3% (ATM 24.7% + spread 13.8% + bias) — good value
Execution Efficiency
<3.0%Total drag 19.27% (spread 13.80% + slippage 5.47%) — high friction
Vega Efficiency
≥5.0Vega efficiency 2.76 (vega 3.805 / spread 13.80%) — spread drag
Sentiment
Bullish or bearish?
5.6
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Moderate signal (Conviction: +1%, Raw: -2%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: +1% (neutral) — Raw: -2%
OI Skew Magnitude
≥15%|OI skew| 17.6% — put-heavy
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +30.0%, OI skew -17.6% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 48%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +82%, ATM: -75%, OTM: +36% — bullish (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 43% — bullish vs sector
Activity
Unusual activity?
3.6
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/9 checks passed
Volume Surge
≥1.5xVolume 0.7x avg — normal
Turnover Rate
≥15%Vol/OI 2.3% — 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 +5.4% (5d) — building
Sector Relative≥60%
Sector activity percentile 42% — neutral vs sector
Trade Quality
≥30%Large trade volume 54% — heavy institutional
Execution Urgency
≥60%Aggressive execution 39% — patient
Flow Conviction
≥30Conviction +1 (bullish) — mixed
Liquidity
Can I trade efficiently?
3.8
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 13.8% — wide
Adequate OI
≥10,000OI 48,832 — adequate
Active Volume
≥500Volume 1,117/day — adequate
Reasonable Cost
≤$0.50$0.69 to cross — expensive
Strike Coverage
≥5 strikes1 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 35% — tighter than sector
Order Book Depth
≥100 contractsDepth 118.9 contracts (bid:65.3 ask:53.6) — adequate
Execution Quality
<1.0%Avg slippage 5.47% — 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 +5.8% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 7% — buyer opportunity
Event Detection
≥10pts kinkIV kink 1.6pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 6.57 — favors income trades
Expiration Distribution
≥3 expirations3 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: Earnings in 24d (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 84 (ITM 20% + inst 54%) — HIGH institutional
Directional Strategy Fit
Option Buyers
Long Calls6.2
bullishIV cheap, mixed flow
Long Puts5.8
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put4.7
bullishIV too cheap, mixed flow
Covered Call4.2
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.