How are AMDY collar max profit and max loss calculated?

Max profit roughly equals short-call strike minus cost basis plus net premium; max loss roughly equals cost basis minus long-put strike minus net premium. Breakeven shifts by the net premium. For the AMDY collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 44.60%), the computed maximum profit is -$9.00 per contract and the computed maximum loss is -$509.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a AMDY collar?

The breakeven for the AMDY collar priced on this page is no defined breakeven on the modeled curve at expiration, derived from the August 14, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The AMDY market-implied 1-standard-deviation expected move in the same options snapshot is approximately 12.79%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current AMDY implied volatility affect this collar?

AMDY ATM IV is at 44.60% with IV rank near 9.45%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.

AMDY Collar Strategy

AMDY (YieldMax AMD Option Income Strategy ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.

Tidal Trust II - YieldMax AMD Option Income Strategy ETF is an exchange traded fund launched and managed by Tidal Investments, LLC. The fund invests in public equity and fixed income markets of the United States. For its equity portion, it invests through derivatives in stocks of companies operating across information technology, semiconductor, and semiconductor equipment sectors. The fund employs long/short strategy and uses derivatives such as options to create its portfolio. It invests in growth and value stocks of companies across diversified market capitalization. For its fixed income portion, the fund invests in short-term U.S. treasury securities.

AMDY (YieldMax AMD Option Income Strategy ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $133.1M, a beta of 2.30 versus the broader market, a 52-week range of 29.35-59.75, average daily share volume of 384K, a public-listing history dating back to 2023. These structural characteristics shape how AMDY etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.30 indicates AMDY has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. AMDY pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a collar on AMDY?

A collar pairs long stock with a protective out-of-the-money put financed by a short out-of-the-money call, capping both tails of the position around the current spot.

AMDY snapshot

As of August 14, 2026, spot at $46.59, ATM IV 44.60%, IV rank 9.45%, expected move 12.79%. The collar on AMDY below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.

Why this collar structure on AMDY specifically: IV regime affects collar pricing on both sides; compressed AMDY IV at 44.60% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 12.79% (roughly $5.96 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AMDY expiries trade a higher absolute premium for lower per-day decay. Position sizing on AMDY should anchor to the underlying notional of $46.59 per share and to the trader's directional view on AMDY etf.

AMDY collar setup

The AMDY collar below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AMDY at $46.59 on that close, the first option leg uses a $49.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AMDY chain at a 35-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 AMDY shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$46.59	long
Sell 1	Call	$49.00	$0.65
Buy 1	Put	$44.00	$3.15

AMDY collar risk and reward

Net Premium / Debit: -$4,909.00
Max Profit (per contract): -$9.00
Max Loss (per contract): -$509.00
Breakeven(s): None on modeled curve
Risk / Reward Ratio: -0.018

Max profit roughly equals short-call strike minus cost basis plus net premium; max loss roughly equals cost basis minus long-put strike minus net premium. Breakeven shifts by the net premium.

AMDY collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on AMDY. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$509.00
$10.31	-77.9%	-$509.00
$20.61	-55.8%	-$509.00
$30.91	-33.7%	-$509.00
$41.21	-11.5%	-$509.00
$51.51	+10.6%	-$9.00
$61.81	+32.7%	-$9.00
$72.11	+54.8%	-$9.00
$82.41	+76.9%	-$9.00
$92.71	+99.0%	-$9.00

When traders use collar on AMDY

Collars on AMDY hedge an existing long AMDY etf position; the long put sets a floor while the short call finances it, often run as a near-zero-cost hedge during expected volatility windows.

AMDY thesis for this collar

The market-implied 1-standard-deviation range for AMDY extends from approximately $40.63 on the downside to $52.55 on the upside. A AMDY collar hedges an existing long AMDY position with a protective put while financing the put cost via a short call; when the premiums roughly offset, the collar acts as a near-zero-cost insurance band around the current spot. Current AMDY IV rank near 9.45% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on AMDY at 44.60%. As a Financial Services name, AMDY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AMDY-specific events.

AMDY collar positions are structurally neutral (protective); the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. AMDY positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AMDY alongside the broader basket even when AMDY-specific fundamentals are unchanged. Always rebuild the position from current AMDY chain quotes before placing a trade.

Frequently asked questions

What is a collar on AMDY?: A collar on AMDY is the collar strategy applied to AMDY (etf). The strategy is structurally neutral (protective): A collar pairs long stock with a protective out-of-the-money put financed by a short out-of-the-money call, capping both tails of the position around the current spot. With AMDY etf at $46.59 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed AMDY chain strike and the premiums come straight from that session's bid/ask midpoint.
How are AMDY collar max profit and max loss calculated?: Max profit roughly equals short-call strike minus cost basis plus net premium; max loss roughly equals cost basis minus long-put strike minus net premium. Breakeven shifts by the net premium. For the AMDY collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 44.60%), the computed maximum profit is -$9.00 per contract and the computed maximum loss is -$509.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a AMDY collar?: The breakeven for the AMDY collar priced on this page is no defined breakeven on the modeled curve at expiration, derived from the August 14, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The AMDY market-implied 1-standard-deviation expected move in the same options snapshot is approximately 12.79%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on AMDY?: Collars on AMDY hedge an existing long AMDY etf position; the long put sets a floor while the short call finances it, often run as a near-zero-cost hedge during expected volatility windows.
How does current AMDY implied volatility affect this collar?: AMDY ATM IV is at 44.60% with IV rank near 9.45%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.