Real Estate

Simon Property Group Inc (SPG) options and signal

Figures as of 28 Sep 2026

SPG is Simon Property Group 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	45 of 100	28 Sep
At the money IV	22.8%	28 Sep
Priced move to 16 Oct	5.4% down, 4.7% up	28 Sep
Call wall and put wall	Both 210	28 Sep
Signal and the desk's view	No signal, view bullish	25 Sep
Last close	204.53	28 Sep
Next report	2 Nov 2026	28 Sep

Options Snapshot

SPG's IV rank is 45 of 100 on 28 Sep 2026.

Figure	Value
IV rank	45 of 100
At the money IV	22.8%, near month, 18 days
Put/call ratio, open interest	1.22
Call open interest, strikes captured near the price	13,600 contracts
Put open interest, strikes captured near the price	16,600 contracts
Cost to trade at the money	Fair, 36.8% of the option's mid price

IV rank is where the at the money IV sits among SPG'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, SPG options priced a move of 5.4 percent down and 4.7 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	5.4%	4.7%	193.43 to 214.17
20 Nov 2026	53	9.1%	9.2%	185.93 to 223.43
18 Dec 2026	81	11.3%	11.1%	181.33 to 227.33
15 Jan 2027	109	12.7%	13.6%	178.53 to 232.43
19 Mar 2027	172	17.0%	17.5%	169.83 to 240.23
16 Apr 2027	200	17.9%	19.1%	167.93 to 243.53

The range is one standard deviation either side of the close of 204.53, 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, SPG's call wall and put wall are both at the 210 strike.

Figure	Value
Call wall, most open call gamma	210
Put wall, most open put gamma	210
Flip strike, where net gamma changes sign	209.16
Net dollar gamma, calls minus puts	minus $1.53 million
Total dollar gamma, both sides	$16.19 million
Close	204.53

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, SPG's at the money IV is 22.8 percent against 20 day realized volatility of 15.5 percent.

Figure	Value
At the money IV	22.8%
Realized volatility, 20 trading days	15.5%
Realized volatility, 60 trading days	17.6%
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	24.6% 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, SPG's at the money IV runs from 22.8 percent at 18 days to 25.2 percent at 200 days.

Days to expiry	At the money IV
18	22.8%
53	24.3%
81	24.2%
109	25.2%
172	24.8%
200	25.2%

Far expiries price more volatility than near ones, an upward sloping 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, SPG's IV ten percent below the price sits 6.8 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	31.1%	+6.8 points
At the money	24.3%	0.0 points
10% above the price	24.0%	-0.3 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, SPG's surface spans 6 expiries out to 200 days, with IV from 22.4 to 38.1 percent near the price.

Figure	Value
Expiries captured	6
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	35
Lowest IV among them	22.4%
Highest IV among them	38.1%

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, SPG has 6 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	22.8%	3,229	3,793
20 Nov 2026	53	24.3%	1,107	322
18 Dec 2026	81	24.2%	2,849	1,982
15 Jan 2027	109	25.2%	4,129	8,047
19 Mar 2027	172	24.8%	2,130	2,416
16 Apr 2027	200	25.2%	187	45

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, SPG's largest open interest sits at the 210 strike, with 5,011 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
210	2,583	2,428	5,011
165	29	3,310	3,339
220	2,356	569	2,925
200	615	2,146	2,761
190	285	1,756	2,041
230	1,859	181	2,040

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, SPG's at the money IV moved from 23.4 percent to 22.8 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	23.4%	22.8%	-0.7 points
Open interest, strikes captured near the price	30,049	30,236	+187
Put/call ratio, open interest	1.23	1.22	-0.01

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, 3,531 SPG option contracts traded, 0.9 times its own recent average.

Figure	Value
Calls traded	2,927
Puts traded	604
Against its recent average	0.9 times
Busier than	1 of its last 20 trading days
Open interest, whole chain	35,199 contracts
Volume to open interest	0.10
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 SPG'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	219.53	$1.61 million	230	210
21 Sep 2026	204.98	minus $2.88 million	210	210
28 Sep 2026	204.53	minus $1.53 million	210	210

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 SPG was bullish, paper trading.

Figure	Value
Side	Bullish at 45 trading days, no signal
Level above the close	206.38, the swing high of 21 Sep 2026
Level below the close	203.41, the swing low of 24 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 SPG sat at the 97th percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	62 of 100	Neutral
20 trading days	72 of 100	Neutral
45 trading days	97 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 SPG 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 SPG had carried no signal for at least 18 trading days, paper trading.

Trading day	Signal	45 day percentile
25 Sep 2026	None	97 of 100
24 Sep 2026	None	87 of 100
23 Sep 2026	None	92 of 100
22 Sep 2026	None	91 of 100
21 Sep 2026	None	79 of 100
18 Sep 2026	None	66 of 100
17 Sep 2026	None	82 of 100
16 Sep 2026	None	94 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

SPG closed at 204.53 on 28 Sep 2026.

Figure	Value
Last close	204.53
Change over 5 trading days	-0.2%
Change over 21 trading days	-4.8%
Change over 63 trading days	-10.1%
Change over 252 trading days	+12.0%
52 week high	238.50
52 week low	172.19
20 day moving average	206.61
50 day moving average	216.97
200 day moving average	203.47
RSI, 14 days	36

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

SPG reports next on 2 Nov 2026, a date worked out from past quarters.

Figure	Value
Next report	2 Nov 2026, after the close
Date	Worked out from past quarters
Move after the report of 10 Aug 2026	-0.5%
Move after the report of 11 May 2026	+2.3%
Move after the report of 10 Feb 2026	-0.8%
Move after the report of 10 Nov 2025	+1.1%

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

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Short Volume

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

Figure	Value
Short sale share, 25 Sep	58.7%
Five day average	62.6%
52 week median	56.5%

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, SPG's average change was minus 0.4 percent, and it rose in 52.2 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.4%	+1.0%	52.2%	23
October	+1.9%	+3.4%	65.2%	23
November	+2.7%	+4.1%	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 SPG's IV rank?: SPG's IV rank is 45 of 100 on 28 Sep 2026.
What move are SPG options pricing?: On 28 Sep 2026, SPG options priced a move of 5.4 percent down and 4.7 percent up by 16 Oct 2026.
Where are SPG's call wall and put wall?: On 28 Sep 2026, SPG's call wall and put wall are both at the 210 strike.
What was the desk's latest view of SPG on the Free plan?: On 25 Sep 2026 the desk's view of SPG was bullish, paper trading.
When does SPG report earnings next?: SPG reports next on 2 Nov 2026, a date worked out from past quarters.

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