Realty Income Near Its 20-Day High With Balanced Options, Prologis Dark Pools Back to Normal: Landlord Data for Business Tenants (GTA Terminal, November 11-12, 2026)

Business owners meet real estate investment trusts as landlords: Realty Income owns single-tenant buildings under long net leases, and Prologis owns the warehouses and logistics parks that distributors and fleets rent. GTA Terminal data for Nov 11 and 12, 2026 shows both with options money close to balanced, but for different reasons: Realty Income is pressing against its 20-day high, while Prologis is still in a downtrend.

Realty Income: overbought chart, cooling call lean

At 11:57 AM ET on Thursday, Nov 12, Realty Income traded at $59.47, above its 20-day average ($57.62) and 50-day average ($56.94), 87% of the way up its 20-day range and 1.0% below the 20-day high of $60.08. Its RSI of 71 is in overbought territory. Options traders had put $372K to work, $197K in calls and $175K in puts, a 53% call share with a put/call volume ratio of 0.86. GTA called the overall read mixed.

A week earlier the options lean was much stronger. The Realty Income dark pool check for Nov 4 showed 85% of scanned premium in calls and 2,516,256 shares traded off the exchanges, 1.0x normal. By Nov 11, off-exchange volume was 1,641,299 shares, 0.7x normal and 34.6% of volume. Since then, the call share and dark pool volume have both eased while the stock holds near its 20-day high. Levels are on the Realty Income stock page.

Prologis: dark pools near normal, trend still down

The Prologis dark pool check for Wednesday, Nov 11 shows 1,346,816 shares off the exchanges, 0.9x the 20-session average and 36.7% of volume, near the five-session average of 37%. That is well below Nov 5, when 2,182,975 shares traded off-exchange. In the latest options scan, 53% of premium went to calls and 47% to puts. The stock is in a downtrend, below its 50-day and 200-day averages, 16% below its 52-week high, with an RSI of 57.

For more on reading these bets, GTA's guide to unusual options activity in real estate trusts explains how to judge whether a big REIT option trade is worth noticing.

What it means for business tenants

• Sale-leaseback: net-lease landlords like Realty Income buy buildings from operating businesses and lease them back. A strong share price lowers their cost of capital, which can mean better offers for owners who want to free up cash from real estate to buy equipment.

• Warehouse leases: Prologis trading 16% below its high with neutral flow suggests investors are not betting on a sharp rise in warehouse rents right now. Distributors renewing space have room to negotiate on terms.

• Rate sensitivity: REIT prices move with interest rate expectations. A rising REIT group can hint that markets expect borrowing costs to ease, but one session does not make a trend.

• Mixed signals: balanced options in both names and an overbought Realty Income chart mean neither stock is sending a strong message. Treat this as background, not a trigger.

Caution: a signal, not a guarantee

Options and dark pool readings show where money moved, not why it moved. This is a signal, not a guarantee, and not investment advice. Both landlords' flow is on GTA Terminal, and the full history behind these figures is in GTA Terminal data.

Related reading: Realty Income, NNN and Simon Property on sale-leasebacks and warehouse landlords and shop-yard leases.

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