National Storage Affiliates Trust Common Shares of Beneficial Interest (NSA) Covered Calls
National Storage Affiliates Trust (NSA) is a publicly traded real estate investment trust (REIT) that specializes in the ownership, operation, and acquisition of self-storage properties throughout the United States. Unlike traditional REITs, NSA utilizes a unique "Participating Regional Operator" (PRO) structure, which integrates regional self-storage experts into its national platform to combine local market knowledge with institutional-scale resources.
You can sell covered calls on National Storage Affiliates Trust Common Shares of Beneficial Interest to lower risk and earn monthly income. Born To Sell's covered call screener gives you customized search capabilities across all possible covered calls but here are a couple of examples for NSA (prices last updated Mon 4:16 PM ET):
| National Storage Affiliates Trust Common Shares of Beneficial Interest (NSA) Stock Quote | ||||||
|---|---|---|---|---|---|---|
| Last | Change | Bid | Ask | Volume | P/E | Market Cap |
| 33.75 | -0.40 | 33.50 | 34.00 | 1.8M | 50 | 2.6 |
| Covered Calls For National Storage Affiliates Trust Common Shares of Beneficial Interest (NSA) | ||||||
|---|---|---|---|---|---|---|
| Expiration | Strike | Call Bid | Net Debit | Return If Flat |
Annualized Return If Flat |
|
| Mar 20 | 35 | 0.00 | 34.00 | 1.7% | 51.7% | |
| Apr 17 | 35 | 0.40 | 33.60 | 2.9% | 26.5% | |
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NSA’s business model is built on a decentralized management approach. By partnering with established regional operators who retain equity interests in their respective portfolios, NSA incentivizes local management to maintain high occupancy rates and operational excellence. This structure allows the company to rapidly integrate new acquisitions while maintaining the "local touch" that customers often prefer.
The company focuses its portfolio predominantly within the top 100 metropolitan statistical areas, targeting high-growth markets where demand for personal and business storage remains robust. Revenue is primarily generated through diversified rental income, complemented by ancillary services such as tenant insurance, moving supply sales, and administrative fees.
Competitive Landscape
NSA operates in the highly competitive self-storage sector, facing pressure from both large-scale national REITs and independent operators. Key competitors include:
- Public Storage (PSA): The largest player in the industry, often used as the benchmark for national scale, brand dominance, and capital markets access.
- Extra Space Storage (EXR): A major competitor known for its robust technology platform, third-party management services, and extensive national footprint.
- CubeSmart (CUBE): A key peer that focuses on providing high-quality storage solutions in densely populated urban centers, serving as a point of comparison for market concentration strategies.
Strategic Outlook and Risks
For 2026, NSA is navigating a period of stabilization, focusing on optimizing its portfolio performance following a period of rapid acquisition. Management is prioritizing debt management, margin expansion, and leveraging its proprietary property management platform to reduce operating expenses. While the self-storage industry is often viewed as "recession-resistant," NSA faces ongoing risks related to local supply-demand imbalances, interest rate sensitivity, and the potential for slowing consumer discretionary spending.
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Want more examples? NRT Covered Calls | NSC Covered Calls
Risk Disclosure: Trading options involves significant risk and is not suitable for all investors. The information provided on this website is for educational and informational purposes only and does not constitute financial, investment, tax, or legal advice. Nothing contained on this site is an offer to buy or sell, or a solicitation of an offer to buy or sell, any securities or financial instruments.
Covered Call Strategy Risks: While covered call writing is often considered a conservative options strategy, it is not without risk. By selling a covered call, you are limiting your potential upside profit from the underlying stock. You remain exposed to the full downside risk of owning the underlying stock. In the event of a significant decline in the stock price, the premium received may not be sufficient to offset your losses.
No Guarantee of Performance: Past performance is not indicative of future results. Any examples, calculations, or hypothetical scenarios presented on this site are for illustrative purposes only and do not guarantee future returns or outcomes. Market conditions, liquidity, and trading system failures can affect your ability to execute trades at desired prices.
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