Real Estate

Equity LifeStyle Properties, Inc. (ELS) options and signal

Figures as of 28 Sep 2026

ELS is Equity LifeStyle Properties, Inc., a Real Estate name the model ranks every trading day. The options figures are from the close on 28 Sep 2026. The model's figures are from 25 Sep 2026, one trading day behind the latest, as the Free plan shows them. Every model figure is paper trading.

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At a glance

Figure	Value	Date
IV rank	47 of 100	28 Sep
At the money IV	27.6%	28 Sep
Priced move to 16 Oct	6.1% down, 6.1% up	28 Sep
Call wall and put wall	65 and 60	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	59.08	28 Sep
Next report	21 Oct 2026	28 Sep

Options Snapshot

ELS's IV rank is 47 of 100 on 28 Sep 2026.

Figure	Value
IV rank	47 of 100
At the money IV	27.6%, near month, 18 days
Put/call ratio, open interest	0.96
Call open interest, strikes captured near the price	141 contracts
Put open interest, strikes captured near the price	136 contracts
Cost to trade at the money	Wide, 152.4% of the option's mid price

IV rank is where the at the money IV sits among ELS's own weekly readings, 0 the lowest and 100 the highest.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Priced Range

On 28 Sep 2026, ELS options priced a move of 6.1 percent down and 6.1 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	6.1%	6.1%	55.46 to 62.70
20 Nov 2026	53	15.8%	15.8%	49.75 to 68.41
19 Feb 2027	144	17.1%	17.1%	48.98 to 69.18

The range is one standard deviation either side of the close of 59.08, as the option prices imply it.

A priced move restates option prices at the close and says nothing certain about where the price goes.

Thin quote at that expiry; its neighbours' reading stands in.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Gamma Map

On 28 Sep 2026, ELS's call wall is the 65 strike and its put wall is the 60 strike.

Figure	Value
Call wall, most open call gamma	65
Put wall, most open put gamma	60
Net dollar gamma, calls minus puts	minus $3,029
Total dollar gamma, both sides	$29,665
Close	59.08

Dollar gamma is stated for a one percent move in the price.

Net is calls minus puts under the standard convention, not a record of who holds the contracts.

Net gamma changes sign at 3 strikes, so no single flip strike is named.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility History

On 28 Sep 2026, ELS's at the money IV is 27.6 percent against 20 day realized volatility of 12.7 percent.

Figure	Value
At the money IV	27.6%
Realized volatility, 20 trading days	12.7%
Realized volatility, 60 trading days	18.8%
IV against its own weekly record	In the middle
Weekly readings on record	770, from 8 Jan 2010
Weeks the price moved more than the one week priced move	15.4% of 208 weeks

Realized volatility is worked out from the daily closes the desk holds, not from the option chain.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Weather

On 28 Sep 2026, ELS's at the money IV runs from 27.6 percent at 18 days to 27.3 percent at 144 days.

Days to expiry	At the money IV
18	27.6%
53	41.4%
144	27.3%

Near and far expiries price about the same volatility, a flat term structure.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Smile

On 28 Sep 2026, at the 53 day expiry, ELS's IV ten percent below the price sits 8.5 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	49.9%	+8.5 points
At the money	41.4%	0.0 points
10% above the price	32.6%	-8.8 points

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Volatility Surface

On 28 Sep 2026, ELS's surface spans 3 expiries out to 144 days, with IV from 27.3 to 49.9 percent near the price.

Figure	Value
Expiries captured	3
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	19 Feb 2027, 144 days
Points within 10% of the price, 7 days out or more	6
Lowest IV among them	27.3%
Highest IV among them	49.9%

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Expiry Ladder

On 28 Sep 2026, ELS has 3 captured expiries, from 16 Oct 2026 to 19 Feb 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	27.6%	5	6
20 Nov 2026	53	41.4%	67	16
19 Feb 2027	144	27.3%	69	114

Open interest is summed over the strikes captured near the price on each expiry.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Strike Table

On 28 Sep 2026, ELS's largest open interest sits at the 60 strike, with 77 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
60	21	56	77
45	1	62	63
65	45	16	61
70	34	0	34
50	20	1	21
55	12	1	13

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Since Yesterday

From 25 Sep 2026 to 28 Sep 2026, ELS's at the money IV moved from 27.2 percent to 27.6 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	27.2%	27.6%	+0.4 points
Open interest, strikes captured near the price	276	277	+1
Put/call ratio, open interest	0.99	0.96	-0.02

Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Changed Hands

On 28 Sep 2026, 61 ELS option contracts traded, 1.0 times its own recent average.

Figure	Value
Calls traded	47
Puts traded	14
Against its recent average	1.0 times
Open interest, whole chain	281 contracts
Volume to open interest	0.22
Unusual volume flag	No

Traded volume and open interest are shown side by side and never combined. Open interest changes cannot identify buyers or sellers.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Positioning Replay

The replay holds 7 trading days of ELS's option positioning, from 11 Aug 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
11 Aug 2026	64.05	$146,139	65	65
12 Aug 2026	63.97	$158,798	65	65
28 Sep 2026	59.08	minus $3,029	65	60

Each frame restates one nightly capture. Net is calls minus puts, a convention, not who holds the contracts.

From the option chain at the close on 28 Sep 2026. Current on every plan.

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Read-out

On 25 Sep 2026 the desk's view of ELS was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	59.74, the swing high of 11 Sep 2026
Level below the close	58.70, the swing low of 25 Sep 2026, a close past it runs against the view
The chart	Sits against the view
Strategy family	Bull call spread (buy a call spread)
Price target	None. The desk has no price model.

The levels are prices the shares turned at on the chart, with the date of each.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Rank by Timeframe

On 25 Sep 2026 ELS sat at the 79th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	17 of 100	Bearish
20 trading days	20 of 100	Neutral
45 trading days	79 of 100	Neutral

100 is the top of the ranking. A name in the middle three fifths is neutral.

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

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Timeframe Agreement

On 25 Sep 2026 ELS's near timeframes were bearish and its long timeframe was neutral, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Bearish	1 of 2
Long	45 day	Neutral	0 of 1

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

Open Timeframe Agreement in RingMaster The Timeframe Agreement guide

Signal History

On 25 Sep 2026 ELS had carried no signal for at least 5 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	79 of 100
24 Sep 2026	None	49 of 100
23 Sep 2026	None	48 of 100
22 Sep 2026	None	49 of 100
21 Sep 2026	None	15 of 100

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

Open Signal History in RingMaster The Signal History guide

Sector Split

On 25 Sep 2026, 11 of 41 Real Estate names were bullish and 17 were bearish, paper trading.

Sector	Names	Bullish	Bearish	Neutral
Real Estate	41	11	17	13

Paper trading. The model's figures from 25 Sep 2026, one trading day behind, as the Free plan shows them.

Open Sector Split in RingMaster The Sector Split guide

Price Chart

ELS closed at 59.08 on 28 Sep 2026.

Figure	Value
Last close	59.08
Change over 5 trading days	-2.3%
Change over 21 trading days	-7.6%
Change over 63 trading days	-8.7%
Change over 252 trading days	-1.5%
52 week high	69.00
52 week low	58.70
20 day moving average	61.08
50 day moving average	63.53
200 day moving average	63.73
RSI, 14 days	28

Worked out from the desk's own daily bars, adjusted for share splits.

From the daily bars through 28 Sep 2026. Current on every plan.

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Earnings Radar

ELS reports next on 21 Oct 2026, a date worked out from past quarters.

Figure	Value
Next report	21 Oct 2026, after the close
Date	Worked out from past quarters
Move after the report of 21 Jul 2026	+0.9%
Move after the report of 22 Apr 2026	+1.1%
Move after the report of 20 Jan 2026	+0.3%
Move after the report of 21 Apr 2025	-1.1%

Earnings calendar as of 28 Sep 2026. Current on every plan.

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Seasonality

In the 23 Septembers on record, ELS's average change was minus 0.9 percent, and it rose in 34.8 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.9%	-0.7%	34.8%	23
October	+1.8%	+3.3%	60.9%	23
November	+0.0%	+2.1%	60.9%	23

Each figure is a month end to month end change in past years. A past month says nothing certain about the next one.

Monthly history through 28 Sep 2026. Current on every plan.

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Questions

What is ELS's IV rank?: ELS's IV rank is 47 of 100 on 28 Sep 2026.
What move are ELS options pricing?: On 28 Sep 2026, ELS options priced a move of 6.1 percent down and 6.1 percent up by 16 Oct 2026.
Where are ELS's call wall and put wall?: On 28 Sep 2026, ELS's call wall is the 65 strike and its put wall is the 60 strike.
What was the desk's latest view of ELS on the Free plan?: On 25 Sep 2026 the desk's view of ELS was bullish, paper trading.
When does ELS report earnings next?: ELS reports next on 21 Oct 2026, a date worked out from past quarters.

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