Real Estate

Mid-America Apartment Communities Inc (MAA) options and signal

Figures as of 28 Sep 2026

MAA is Mid-America Apartment Communities 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	88 of 100	28 Sep
At the money IV	29.1%	28 Sep
Priced move to 16 Oct	6.5% down, 6.5% up	28 Sep
Call wall and put wall	Both 120	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	118.34	28 Sep
Next report	28 Oct 2026	28 Sep

Options Snapshot

MAA's IV rank is 88 of 100 on 28 Sep 2026.

Figure	Value
IV rank	88 of 100
At the money IV	29.1%, near month, 18 days
Put/call ratio, open interest	2.41
Call open interest, strikes captured near the price	1,900 contracts
Put open interest, strikes captured near the price	4,580 contracts
Cost to trade at the money	Wide, 44.0% of the option's mid price

IV rank is where the at the money IV sits among MAA'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, MAA options priced a move of 6.5 percent down and 6.5 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	6.5%	6.5%	110.70 to 126.00
20 Nov 2026	53	10.9%	7.7%	105.44 to 127.48
18 Dec 2026	81	12.4%	10.1%	103.64 to 130.34
19 Mar 2027	172	17.1%	13.6%	98.14 to 134.44

The range is one standard deviation either side of the close of 118.34, 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, MAA's call wall and put wall are both at the 120 strike.

Figure	Value
Call wall, most open call gamma	120
Put wall, most open put gamma	120
Flip strike, where net gamma changes sign	143.08
Net dollar gamma, calls minus puts	minus $806,316
Total dollar gamma, both sides	$2.01 million
Close	118.34

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, MAA's at the money IV is 29.1 percent against 20 day realized volatility of 13.9 percent.

Figure	Value
At the money IV	29.1%
Realized volatility, 20 trading days	13.9%
Realized volatility, 60 trading days	18.1%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	813, from 8 Jan 2010
Weeks the price moved more than the one week priced move	29.0% 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, MAA's at the money IV runs from 29.1 percent at 18 days to 23.1 percent at 172 days.

Days to expiry	At the money IV
18	29.1%
53	24.9%
81	25.0%
172	23.1%

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, MAA's IV ten percent below the price sits 5.6 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	30.5%	+5.6 points
At the money	24.9%	0.0 points
10% above the price	28.5%	+3.6 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, MAA's surface spans 4 expiries out to 172 days, with IV from 22.1 to 53.7 percent near the price.

Figure	Value
Expiries captured	4
Nearest expiry	16 Oct 2026, 18 days
Farthest expiry	19 Mar 2027, 172 days
Points within 10% of the price, 7 days out or more	19
Lowest IV among them	22.1%
Highest IV among them	53.7%

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, MAA has 4 captured expiries, from 16 Oct 2026 to 19 Mar 2027.

Expiry	Days	At the money IV	Call open interest	Put open interest
16 Oct 2026	18	29.1%	423	710
20 Nov 2026	53	24.9%	396	135
18 Dec 2026	81	25.0%	794	3,103
19 Mar 2027	172	23.1%	285	635

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, MAA's largest open interest sits at the 120 strike, with 1,188 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
120	390	798	1,188
130	401	671	1,072
125	232	591	823
110	7	650	657
105	5	467	472
135	215	253	468

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, MAA's at the money IV moved from 26.1 percent to 29.1 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	26.1%	29.1%	+3.0 points
Open interest, strikes captured near the price	6,211	6,481	+270
Put/call ratio, open interest	2.25	2.41	+0.17

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, 1,936 MAA option contracts traded, 1.0 times its own recent average.

Figure	Value
Calls traded	164
Puts traded	1,772
Against its recent average	1.0 times
Busier than	11 of its last 13 trading days
Open interest, whole chain	7,642 contracts
Volume to open interest	0.25
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 14 trading days of MAA's option positioning, from 8 Sep 2026 to 28 Sep 2026.

Date	Close	Net dollar gamma	Top call strike	Top put strike
8 Sep 2026	127.89	minus $1.19 million	135	130
21 Sep 2026	118.86	minus $864,986	120	120
28 Sep 2026	118.34	minus $806,316	120	120

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 MAA was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	130.02, the swing high of 3 Sep 2026
Level below the close	116.67, the swing low of 25 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 MAA sat at the 85th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	23 of 100	Neutral
20 trading days	38 of 100	Neutral
45 trading days	85 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 MAA 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.

Open Timeframe Agreement in RingMaster The Timeframe Agreement guide

Signal History

On 25 Sep 2026 MAA had carried no signal for at least 13 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	85 of 100
24 Sep 2026	None	81 of 100
23 Sep 2026	None	53 of 100
22 Sep 2026	None	72 of 100
21 Sep 2026	None	52 of 100
18 Sep 2026	None	44 of 100
17 Sep 2026	None	56 of 100
16 Sep 2026	None	78 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

MAA closed at 118.34 on 28 Sep 2026.

Figure	Value
Last close	118.34
Change over 5 trading days	-0.4%
Change over 21 trading days	-8.1%
Change over 63 trading days	-15.9%
Change over 252 trading days	-14.7%
52 week high	144.41
52 week low	116.67
20 day moving average	123.51
50 day moving average	129.03
200 day moving average	131.37
RSI, 14 days	27

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

MAA reports next on 28 Oct 2026, a date confirmed by the company.

Figure	Value
Next report	28 Oct 2026, after the close
Date	Confirmed by the company
Move after the report of 29 Jul 2026	-3.0%
Move after the report of 30 Apr 2026	-0.5%
Move after the report of 28 Jan 2026	+0.9%
Move after the report of 30 Apr 2025	+1.5%

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

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Short Volume

On 25 Sep 2026, 48.9 percent of MAA's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	48.9%
Five day average	51.6%
52 week median	51.7%

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, MAA's average change was minus 1.8 percent, and it rose in 43.5 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-1.8%	-1.0%	43.5%	23
October	-0.1%	+1.0%	60.9%	23
November	+1.4%	+4.0%	69.6%	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 MAA's IV rank?: MAA's IV rank is 88 of 100 on 28 Sep 2026.
What move are MAA options pricing?: On 28 Sep 2026, MAA options priced a move of 6.5 percent down and 6.5 percent up by 16 Oct 2026.
Where are MAA's call wall and put wall?: On 28 Sep 2026, MAA's call wall and put wall are both at the 120 strike.
What was the desk's latest view of MAA on the Free plan?: On 25 Sep 2026 the desk's view of MAA was bullish, paper trading.
When does MAA report earnings next?: MAA reports next on 28 Oct 2026, a date confirmed by the company.

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