AMYY Collar Strategy
AMYY (GraniteShares YieldBOOST AMD ETF), in the Financial Services sector, (Asset Management - Income industry), listed on NASDAQ.
This fund's primary goal is to generate income equivalent to 200% (twice) that derived from selling options tied to Advanced Micro Devices (AMD). It achieves this not by directly trading options on AMD itself, but by selling options on a specific, leveraged exchange-traded fund (referred to as the "Underlying Leveraged ETF"). This particular ETF is designed to deliver 200% (twice) the daily performance of AMD. A secondary objective of the fund is to gain exposure to the performance of this Underlying Leveraged ETF, though potential investment gains are subject to a predefined ceiling. Furthermore, the fund has the option to implement measures for downside protection, which, if utilized, could affect the overall net income generated.
AMYY (GraniteShares YieldBOOST AMD ETF) trades in the Financial Services sector, specifically Asset Management - Income, with a market capitalization of approximately $8.6M, a beta of 1.17 versus the broader market, a 52-week range of 11.57-24.77, average daily share volume of 24K, a public-listing history dating back to 2025. These structural characteristics shape how AMYY etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.17 places AMYY roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. AMYY pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on AMYY?
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.
AMYY snapshot
As of November 13, 2026, spot at $11.69. The collar on AMYY below is built from the November 13, 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 AMYY specifically: IV rank is unavailable in the current snapshot, so regime-based timing for AMYY is inferred from ATM IV alone. The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AMYY expiries trade a higher absolute premium for lower per-day decay. Position sizing on AMYY should anchor to the underlying notional of $11.69 per share and to the trader's directional view on AMYY etf.
AMYY collar setup
The AMYY collar below is built from the November 13, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AMYY at $11.69 on that close, the first option leg uses a $12.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AMYY 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 AMYY shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $11.69 | long |
| Sell 1 | Call | $12.00 | $0.47 |
| Buy 1 | Put | $11.00 | $0.29 |
AMYY collar risk and reward
- Net Premium / Debit
- -$1,151.00
- Max Profit (per contract)
- $49.00
- Max Loss (per contract)
- -$51.00
- Breakeven(s)
- $11.51
- Risk / Reward Ratio
- 0.961
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.
AMYY collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on AMYY. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -99.9% | -$51.00 |
| $2.59 | -77.8% | -$51.00 |
| $5.18 | -55.7% | -$51.00 |
| $7.76 | -33.6% | -$51.00 |
| $10.34 | -11.5% | -$51.00 |
| $12.93 | +10.6% | +$49.00 |
| $15.51 | +32.7% | +$49.00 |
| $18.10 | +54.8% | +$49.00 |
| $20.68 | +76.9% | +$49.00 |
| $23.26 | +99.0% | +$49.00 |
When traders use collar on AMYY
Collars on AMYY hedge an existing long AMYY 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.
AMYY thesis for this collar
A AMYY collar hedges an existing long AMYY 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. As a Financial Services name, AMYY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AMYY-specific events.
AMYY 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. AMYY positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AMYY alongside the broader basket even when AMYY-specific fundamentals are unchanged. Always rebuild the position from current AMYY chain quotes before placing a trade.
Frequently asked questions
- What is a collar on AMYY?
- A collar on AMYY is the collar strategy applied to AMYY (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 AMYY etf at $11.69 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed AMYY chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are AMYY 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 AMYY collar priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV the current ATM IV), the computed maximum profit is $49.00 per contract and the computed maximum loss is -$51.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a AMYY collar?
- The breakeven for the AMYY collar priced on this page is roughly $11.51 at expiration, derived from the November 13, 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.
- When should you consider a collar on AMYY?
- Collars on AMYY hedge an existing long AMYY 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 AMYY implied volatility affect this collar?
- Current AMYY ATM IV is the current ATM IV; IV rank context is unavailable in the current snapshot.