Real Estate

Essex Property Trust Inc (ESS) options and signal

Figures as of 28 Sep 2026

ESS is Essex Property Trust 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	78 of 100	28 Sep
At the money IV	25.9%	28 Sep
Priced move to 16 Oct	6.7% down, 5.1% up	28 Sep
Call wall and put wall	270 and 280	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	273.01	28 Sep
Next report	27 Oct 2026	28 Sep

Options Snapshot

ESS's IV rank is 78 of 100 on 28 Sep 2026.

Figure	Value
IV rank	78 of 100
At the money IV	25.9%, near month, 18 days
Put/call ratio, open interest	0.19
Call open interest, strikes captured near the price	1,950 contracts
Put open interest, strikes captured near the price	366 contracts
Cost to trade at the money	Wide, 54.8% of the option's mid price

IV rank is where the at the money IV sits among ESS'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, ESS options priced a move of 6.7 percent down and 5.1 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	6.7%	5.1%	254.61 to 286.91
20 Nov 2026	53	8.9%	8.0%	248.61 to 294.91
15 Jan 2027	109	13.8%	11.4%	235.41 to 304.11
16 Apr 2027	200	17.7%	15.5%	224.71 to 315.21

The range is one standard deviation either side of the close of 273.01, as the option prices imply it.

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

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, ESS's call wall is the 270 strike and its put wall is the 280 strike.

Figure	Value
Call wall, most open call gamma	270
Put wall, most open put gamma	280
Flip strike, where net gamma changes sign	260.17
Net dollar gamma, calls minus puts	$1.75 million
Total dollar gamma, both sides	$2.44 million
Close	273.01

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.

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, ESS's at the money IV is 25.9 percent against 20 day realized volatility of 12.5 percent.

Figure	Value
At the money IV	25.9%
Realized volatility, 20 trading days	12.5%
Realized volatility, 60 trading days	19.1%
IV against its own weekly record	In the middle
Weekly readings on record	865, from 8 Jan 2010
Weeks the price moved more than the one week priced move	26.2% of 252 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, ESS's at the money IV runs from 25.9 percent at 18 days to 23.9 percent at 200 days.

Days to expiry	At the money IV
18	25.9%
53	23.4%
109	23.4%
200	23.9%

Near expiries price more volatility than far ones, an inverted 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, ESS's IV ten percent below the price sits 7.3 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	30.8%	+7.3 points
At the money	23.4%	0.0 points
10% above the price	25.6%	+2.2 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, ESS's surface spans 4 expiries out to 200 days, with IV from 20.8 to 45.0 percent near the price.

Figure	Value
Expiries captured	4
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	16 Apr 2027, 200 days
Points within 10% of the price, 7 days out or more	22
Lowest IV among them	20.8%
Highest IV among them	45.0%

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, ESS has 4 captured expiries, from 16 Oct 2026 to 16 Apr 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	25.9%	1,699	249
20 Nov 2026	53	23.4%	110	17
15 Jan 2027	109	23.4%	74	43
16 Apr 2027	200	23.9%	71	57

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, ESS's largest open interest sits at the 310 strike, with 513 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
310	513	0	513
290	440	35	475
280	288	109	397
270	326	55	381
300	281	0	281
240	2	71	73

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, ESS's at the money IV moved from 23.3 percent to 25.9 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	23.3%	25.9%	+2.6 points
Open interest, strikes captured near the price	2,313	2,320	+7
Put/call ratio, open interest	0.19	0.19	-0.00

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, 278 ESS option contracts traded, 0.5 times its own recent average.

Figure	Value
Calls traded	104
Puts traded	174
Against its recent average	0.5 times
Busier than	4 of its last 19 trading days
Open interest, whole chain	2,449 contracts
Volume to open interest	0.11
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 24 trading days of ESS'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	282.46	$1.57 million	290	280
21 Sep 2026	271.39	$1.66 million	270	280
28 Sep 2026	273.01	$1.75 million	270	280

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 ESS was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	276.75, the swing high of 23 Sep 2026
Level below the close	270.45, the swing low of 10 Sep 2026, a close past it runs against the view
The chart	Sits against the view
Strategy family	Cash-secured put (sell a put below the price)
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 ESS sat at the 92nd percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	31 of 100	Neutral
20 trading days	26 of 100	Neutral
45 trading days	92 of 100	Bullish

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, 1 of 3 timeframes put ESS on the bullish side, paper trading.

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

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

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Signal History

On 25 Sep 2026 ESS had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	92 of 100
24 Sep 2026	None	75 of 100
23 Sep 2026	None	78 of 100
22 Sep 2026	None	87 of 100
21 Sep 2026	None	94 of 100
18 Sep 2026	None	74 of 100
17 Sep 2026	None	92 of 100
16 Sep 2026	None	91 of 100

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

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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.

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Price Chart

ESS closed at 273.01 on 28 Sep 2026.

Figure	Value
Last close	273.01
Change over 5 trading days	+0.6%
Change over 21 trading days	-2.8%
Change over 63 trading days	-7.7%
Change over 252 trading days	+3.5%
52 week high	303.35
52 week low	238.46
20 day moving average	274.62
50 day moving average	282.67
200 day moving average	268.15
RSI, 14 days	43

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

ESS reports next on 27 Oct 2026, a date worked out from past quarters.

Figure	Value
Next report	27 Oct 2026, after the close
Date	Worked out from past quarters
Move after the report of 28 Jul 2026	+0.8%
Move after the report of 29 Apr 2026	-0.7%
Move after the report of 27 Jan 2026	-2.5%
Move after the report of 29 Apr 2025	+1.4%

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

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Company Events

ESS filed 1 current report in the 14 days to 28 Sep 2026, the latest on 25 Sep 2026.

Filed	Report	What it covers
25 Sep 2026	Current report	Entry into a Material Definitive Agreement; Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant

Filings as of 28 Sep 2026. Current on every plan.

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Short Volume

On 25 Sep 2026, 58.7 percent of ESS's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	58.7%
Five day average	76.6%
52 week median	66.4%

Short sale volume counts trades marked short at the covered venues, mostly off exchange. It is not the same as short interest.

Short volume as of 25 Sep 2026. Current on every plan.

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Seasonality

In the 23 Septembers on record, ESS's average change was minus 2.2 percent, and it rose in 34.8 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-2.2%	-1.9%	34.8%	23
October	+1.4%	+1.2%	60.9%	23
November	+0.1%	-0.1%	47.8%	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 ESS's IV rank?: ESS's IV rank is 78 of 100 on 28 Sep 2026.
What move are ESS options pricing?: On 28 Sep 2026, ESS options priced a move of 6.7 percent down and 5.1 percent up by 16 Oct 2026.
Where are ESS's call wall and put wall?: On 28 Sep 2026, ESS's call wall is the 270 strike and its put wall is the 280 strike.
What was the desk's latest view of ESS on the Free plan?: On 25 Sep 2026 the desk's view of ESS was bullish, paper trading.
When does ESS report earnings next?: ESS reports next on 27 Oct 2026, a date worked out from past quarters.

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Strike	Call open interest	Put open interest	Total
310	513	0	513
290	440	35	475
280	288	109	397
270	326	55	381
300	281	0	281
240	2	71	73

Strike	Call open interest	Put open interest	Total
310	513	0	513
290	440	35	475
280	288	109	397
270	326	55	381
300	281	0	281
240	2	71	73

Strike	Call open interest	Put open interest	Total
310	513	0	513
290	440	35	475
280	288	109	397
270	326	55	381
300	281	0	281
240	2	71	73