Real Estate

Welltower Inc (WELL) options and signal

Figures as of 28 Sep 2026

WELL is Welltower 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	66 of 100	28 Sep
At the money IV	27.4%	28 Sep
Priced move to 16 Oct	6.2% down, 5.8% up	28 Sep
Call wall and put wall	250 and 220	28 Sep
Signal and the desk's view	No signal, view neutral	25 Sep
Last close	232.96	28 Sep
Next report	26 Oct 2026	28 Sep

Options Snapshot

WELL's IV rank is 66 of 100 on 28 Sep 2026.

Figure	Value
IV rank	66 of 100
At the money IV	27.4%, near month, 18 days
Put/call ratio, open interest	0.82
Call open interest, strikes captured near the price	16,300 contracts
Put open interest, strikes captured near the price	13,400 contracts
Cost to trade at the money	Fair, 22.3% of the option's mid price

IV rank is where the at the money IV sits among WELL'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, WELL options priced a move of 6.2 percent down and 5.8 percent up by 16 Oct 2026.

Expiry	Days	Down	Up	Range
16 Oct 2026	18	6.2%	5.8%	218.56 to 246.46
20 Nov 2026	53	10.8%	10.6%	207.76 to 257.76
18 Dec 2026	81	12.8%	13.3%	203.06 to 263.96
15 Jan 2027	109	14.7%	15.4%	198.76 to 268.76
19 Feb 2027	144	16.4%	18.5%	194.66 to 276.06
19 Mar 2027	172	17.5%	20.1%	192.16 to 279.86

The range is one standard deviation either side of the close of 232.96, 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, WELL's call wall is the 250 strike and its put wall is the 220 strike.

Figure	Value
Call wall, most open call gamma	250
Put wall, most open put gamma	220
Net dollar gamma, calls minus puts	$1.06 million
Total dollar gamma, both sides	$15.31 million
Close	232.96

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 2 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, WELL's at the money IV is 27.4 percent against 20 day realized volatility of 17.2 percent.

Figure	Value
At the money IV	27.4%
Realized volatility, 20 trading days	17.2%
Realized volatility, 60 trading days	20.5%
IV against its own weekly record	In the middle
Weekly readings on record	441, from 26 Jan 2018
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.

Open Volatility History in RingMaster The Volatility History guide

Volatility Weather

On 28 Sep 2026, WELL's at the money IV runs from 27.4 percent at 18 days to 28.4 percent at 172 days.

Days to expiry	At the money IV
18	27.4%
53	28.5%
81	28.3%
109	27.2%
144	28.3%
172	28.4%

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, WELL's IV ten percent below the price sits 1.5 points above at the money IV.

Strike area	Implied volatility	Against at the money
10% below the price	29.9%	+1.5 points
At the money	28.5%	0.0 points
10% above the price	27.9%	-0.6 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, WELL's surface spans 6 expiries out to 172 days, with IV from 25.3 to 41.3 percent near the price.

Figure	Value
Expiries captured	6
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	30
Lowest IV among them	25.3%
Highest IV among them	41.3%

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, WELL has 6 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	27.4%	3,000	1,940
20 Nov 2026	53	28.5%	289	295
18 Dec 2026	81	28.3%	3,594	1,809
15 Jan 2027	109	27.2%	8,087	6,214
19 Feb 2027	144	28.3%	153	166
19 Mar 2027	172	28.4%	1,156	2,987

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, WELL's largest open interest sits at the 220 strike, with 5,195 contracts across the captured expiries.

Strike	Call open interest	Put open interest	Total
220	1,763	3,432	5,195
250	2,925	351	3,276
240	2,098	1,050	3,148
230	1,325	1,745	3,070
210	715	2,017	2,732
190	13	2,187	2,200

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, WELL's at the money IV moved from 28.8 percent to 27.4 percent.

Figure	25 Sep	28 Sep	Change
At the money IV	28.8%	27.4%	-1.4 points
Open interest, strikes captured near the price	29,493	29,690	+197
Put/call ratio, open interest	0.83	0.82	-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, 3,457 WELL option contracts traded, 0.8 times its own recent average.

Figure	Value
Calls traded	1,340
Puts traded	2,117
Against its recent average	0.8 times
Busier than	2 of its last 20 trading days
Open interest, whole chain	39,670 contracts
Volume to open interest	0.09
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 WELL'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	226.01	minus $384,546	240	230
21 Sep 2026	232.76	minus $97,374	250	220
28 Sep 2026	232.96	$1.06 million	250	220

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 WELL was neutral, paper trading.

Figure	Value
Side	Neutral at 45 trading days, no signal
Level above the close	240.31, the swing high of 14 Sep 2026
Level below the close	229.74, the swing low of 15 Sep 2026
Strategy family	Iron condor (sell both sides, defined risk)
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.

Open Read-out in RingMaster The Read-out guide

Rank by Timeframe

On 25 Sep 2026 WELL sat at the 42nd percentile of the model's 45 trading day ranking, paper trading.

Timeframe	Percentile	Side
10 trading days	46 of 100	Neutral
20 trading days	44 of 100	Neutral
45 trading days	42 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 WELL's near timeframes were neutral and its long timeframe was neutral, paper trading.

Group	Timeframes	Side	On that side
Near	10 day, 20 day	Neutral	0 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.

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Signal History

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

Trading day	Signal	45 day percentile
25 Sep 2026	None	42 of 100
24 Sep 2026	None	35 of 100
23 Sep 2026	None	68 of 100
22 Sep 2026	None	56 of 100
21 Sep 2026	None	13 of 100
18 Sep 2026	None	40 of 100
17 Sep 2026	None	29 of 100
16 Sep 2026	None	42 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

WELL closed at 232.96 on 28 Sep 2026.

Figure	Value
Last close	232.96
Change over 5 trading days	+0.1%
Change over 21 trading days	-2.8%
Change over 63 trading days	+2.3%
Change over 252 trading days	+35.7%
52 week high	255.20
52 week low	163.75
20 day moving average	234.53
50 day moving average	236.97
200 day moving average	213.26
RSI, 14 days	48

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

WELL reports next on 26 Oct 2026, and options priced an earnings move of 8.3 percent through 20 Nov 2026.

Figure	Value
Next report	26 Oct 2026, after the close
Date	Confirmed by the company
Priced earnings move	8.3%, a straddle of $19.40 at the 230 strike, expiring 20 Nov 2026
Move after the report of 27 Jul 2026	-1.9%
Move after the report of 28 Apr 2026	-1.0%
Move after the report of 26 Jan 2026	-0.1%
Move after the report of 28 Apr 2025	+1.6%

The priced earnings move is the straddle's cost over the share price. It restates option prices and says nothing certain about the report.

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

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Short Volume

On 25 Sep 2026, 45.4 percent of WELL's reported volume at the covered venues was marked short.

Figure	Value
Short sale share, 25 Sep	45.4%
Five day average	63.6%
52 week median	50.7%

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, WELL's average change was minus 0.6 percent, and it rose in 47.8 percent of them.

Month	Average change	Middle change	Share of years up	Years
September	-0.6%	-0.1%	47.8%	23
October	+1.1%	+2.1%	65.2%	23
November	+0.6%	+0.4%	52.2%	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 WELL's IV rank?: WELL's IV rank is 66 of 100 on 28 Sep 2026.
What move are WELL options pricing?: On 28 Sep 2026, WELL options priced a move of 6.2 percent down and 5.8 percent up by 16 Oct 2026.
Where are WELL's call wall and put wall?: On 28 Sep 2026, WELL's call wall is the 250 strike and its put wall is the 220 strike.
What was the desk's latest view of WELL on the Free plan?: On 25 Sep 2026 the desk's view of WELL was neutral, paper trading.
When does WELL report earnings next?: WELL reports next on 26 Oct 2026, and options priced an earnings move of 8.3 percent through 20 Nov 2026.

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