UDR (UDR) options memo

The Read

UDR is up 1.91% today at $37.94.

Options traders lean neutral into 2026-08-21, and neutral further out.

A move through $37.56 would change how dealers hedge this stock.

Key numbers

• Spot: $37.94
• Lean: neutral
• Nearest expiry: Fri 8/21
• Implied move: 1.2%
• ATM implied volatility: 22.5%
• Max pain: $40.00
• Pin strike: $42.50
• Gamma flip: $37.56
• Dealer positioning: SHORT GAMMA
• Call wall: $42.50
• Put wall: $37.50
• Put/call open interest: 0.013