Real Estate

Public Storage (PSA) options and signal

Figures as of 28 Sep 2026

PSA is Public Storage, 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.

Membership gets tonight's signals the night they publish. Free gets every options screen, never delayed, and the signals one trading day behind.

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At a glance

Figure	Value	Date
IV rank	83 of 100	28 Sep
At the money IV	26.8%	28 Sep
Priced move to 16 Oct	6.0% down, 5.4% up	28 Sep
Call wall and put wall	310 and 270	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	284.79	28 Sep
Next report	28 Oct 2026	28 Sep

Options Snapshot

PSA's IV rank is 83 of 100 on 28 Sep 2026.

Figure	Value
IV rank	83 of 100
At the money IV	26.8%, near month, 18 days
Put/call ratio, open interest	1.42
Call open interest, strikes captured near the price	1,660 contracts
Put open interest, strikes captured near the price	2,360 contracts
Cost to trade at the money	Fair, 35.4% of the option's mid price

IV rank is where the at the money IV sits among PSA'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, PSA options priced a move of 6.0 percent down and 5.4 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	6.0%	5.4%	267.79 to 300.29
20 Nov 2026	53	9.6%	10.3%	257.49 to 314.09
18 Dec 2026	81	12.9%	11.9%	248.19 to 318.59
19 Mar 2027	172	17.5%	17.2%	234.89 to 333.79

The range is one standard deviation either side of the close of 284.79, 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, PSA's call wall is the 310 strike and its put wall is the 270 strike.

Figure	Value
Call wall, most open call gamma	310
Put wall, most open put gamma	270
Flip strike, where net gamma changes sign	294.84
Net dollar gamma, calls minus puts	minus $836,934
Total dollar gamma, both sides	$3.26 million
Close	284.79

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, PSA's at the money IV is 26.8 percent against 20 day realized volatility of 19.5 percent.

Figure	Value
At the money IV	26.8%
Realized volatility, 20 trading days	19.5%
Realized volatility, 60 trading days	21.2%
IV against its own weekly record	High, in the top fifth
Weekly readings on record	865, from 8 Jan 2010
Weeks the price moved more than the one week priced move	32.9% 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.

Open Volatility History in RingMaster The Volatility History guide

Volatility Weather

On 28 Sep 2026, PSA's at the money IV runs from 26.8 percent at 18 days to 23.7 percent at 172 days.

Days to expiry	At the money IV
18	26.8%
53	26.5%
81	25.8%
172	23.7%

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, PSA's IV ten percent below the price sits 1.0 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	27.5%	+1.0 points
At the money	26.5%	0.0 points
10% above the price	25.0%	-1.5 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, PSA's surface spans 4 expiries out to 172 days, with IV from 21.0 to 52.8 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	24
Lowest IV among them	21.0%
Highest IV among them	52.8%

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, PSA 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	26.8%	592	699
20 Nov 2026	53	26.5%	257	433
18 Dec 2026	81	25.8%	473	845
19 Mar 2027	172	23.7%	338	385

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, PSA's largest open interest sits at the 270 strike, with 596 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
270	2	594	596
250	6	496	502
310	477	18	495
300	302	157	459
280	9	281	290
260	0	281	281

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, PSA's at the money IV moved from 24.3 percent to 26.8 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	24.3%	26.8%	+2.5 points
Open interest, strikes captured near the price	4,083	4,022	-61
Put/call ratio, open interest	1.65	1.42	-0.23

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, 489 PSA option contracts traded, 0.6 times its own recent average.

Figure	Value
Calls traded	283
Puts traded	206
Against its recent average	0.6 times
Busier than	4 of its last 20 trading days
Open interest, whole chain	4,467 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 33 trading days of PSA'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	325.10	$2.25 million	330	320
21 Sep 2026	296.67	minus $71,398	310	290
28 Sep 2026	284.79	minus $836,934	310	270

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 PSA was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	290.84, the swing high of 15 Sep 2026
Level below the close	283.09, the swing low of 28 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 PSA sat at the 71st percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	9 of 100	Bearish
20 trading days	9 of 100	Bearish
45 trading days	71 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 PSA'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	2 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 PSA had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	71 of 100
24 Sep 2026	None	88 of 100
23 Sep 2026	None	85 of 100
22 Sep 2026	None	76 of 100
21 Sep 2026	None	64 of 100
18 Sep 2026	None	59 of 100
17 Sep 2026	None	67 of 100
16 Sep 2026	None	86 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.

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Price Chart

PSA closed at 284.79 on 28 Sep 2026.

Figure	Value
Last close	284.79
Change over 5 trading days	-4.0%
Change over 21 trading days	-8.5%
Change over 63 trading days	-12.2%
Change over 252 trading days	+1.6%
52 week high	335.55
52 week low	256.54
20 day moving average	296.02
50 day moving average	311.84
200 day moving average	299.42
RSI, 14 days	31

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

PSA reports next on 28 Oct 2026, a date worked out from past quarters.

Figure	Value
Next report	28 Oct 2026, after the close
Date	Worked out from past quarters
Move after the report of 29 Jul 2026	-3.6%
Move after the report of 30 Apr 2026	-0.3%
Move after the report of 28 Jan 2026	+1.3%
Move after the report of 30 Apr 2025	-0.1%

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

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Company Events

PSA filed 2 current reports in the 14 days to 28 Sep 2026, the latest on 16 Sep 2026.

Filed	Report	What it covers
16 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
14 Sep 2026	Current report	Regulation FD Disclosure

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

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Short Volume

On 25 Sep 2026, 58.8 percent of PSA's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	58.8%
Five day average	66.5%
52 week median	67.1%

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, PSA's average change was minus 0.4 percent, and it rose in 39.1 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.4%	-0.8%	39.1%	23
October	+0.8%	+2.0%	56.5%	23
November	+0.9%	+1.8%	56.5%	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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Headlines

The desk's news feeds carried 1 headline naming PSA in the 3 days to 28 Sep 2026.

Figure	Value
Headlines in the window	1
Latest	28 Sep 2026

The titles are in the Headlines window, with the time each was published.

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

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Questions

What is PSA's IV rank?: PSA's IV rank is 83 of 100 on 28 Sep 2026.
What move are PSA options pricing?: On 28 Sep 2026, PSA options priced a move of 6.0 percent down and 5.4 percent up by 16 Oct 2026.
Where are PSA's call wall and put wall?: On 28 Sep 2026, PSA's call wall is the 310 strike and its put wall is the 270 strike.
What was the desk's latest view of PSA on the Free plan?: On 25 Sep 2026 the desk's view of PSA was bullish, paper trading.
When does PSA report earnings next?: PSA reports next on 28 Oct 2026, a date worked out from past quarters.

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Strike	Call open interest	Put open interest	Total
270	2	594	596
250	6	496	502
310	477	18	495
300	302	157	459
280	9	281	290
260	0	281	281

Strike	Call open interest	Put open interest	Total
270	2	594	596
250	6	496	502
310	477	18	495
300	302	157	459
280	9	281	290
260	0	281	281

Strike	Call open interest	Put open interest	Total
270	2	594	596
250	6	496	502
310	477	18	495
300	302	157	459
280	9	281	290
260	0	281	281