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 end-of-day chain at a 30-day expiry (ATM IV 85.40%), the computed maximum profit is $52.00 per contract and the computed maximum loss is -$48.00 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 $15.48 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current AMYY market-implied 1-standard-deviation expected move is approximately 24.48%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current AMYY implied volatility affect this collar?

AMYY ATM IV is at 85.40% with IV rank near 17.35%, 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.

AMYY Collar Strategy

AMYY (GraniteShares YieldBOOST AMD ETF), in the Financial Services sector, (Asset Management - Leveraged 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 - Leveraged, with a market capitalization of approximately $1.6M, a beta of 1.22 versus the broader market, a 52-week range of 15.08-26.53, average daily share volume of 22K, 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 1.22 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.

Current AMYY snapshot

As of June 29, 2026, spot at $15.69, ATM IV 85.40%, IV rank 17.35%, expected move 24.48%. The collar on AMYY below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 18-day expiry.

Why this collar structure on AMYY specifically: IV regime affects collar pricing on both sides; compressed AMYY IV at 85.40% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 24.48% (roughly $3.84 on the underlying). The 18-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 $15.69 per share and to the trader's directional view on AMYY etf.

AMYY collar setup

The AMYY collar below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AMYY near $15.69, the first option leg uses a $16.00 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 18-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	$15.69	long
Sell 1	Call	$16.00	$1.19
Buy 1	Put	$15.00	$0.98

AMYY collar risk and reward

Net Premium / Debit: -$1,548.00
Max Profit (per contract): $52.00
Max Loss (per contract): -$48.00
Breakeven(s): $15.48
Risk / Reward Ratio: 1.083

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.

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	-99.9%	-$48.00
$3.48	-77.8%	-$48.00
$6.95	-55.7%	-$48.00
$10.41	-33.6%	-$48.00
$13.88	-11.5%	-$48.00
$17.35	+10.6%	+$52.00
$20.82	+32.7%	+$52.00
$24.29	+54.8%	+$52.00
$27.75	+76.9%	+$52.00
$31.22	+99.0%	+$52.00

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

The market-implied 1-standard-deviation range for AMYY extends from approximately $11.85 on the downside to $19.53 on the upside. 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. Current AMYY IV rank near 17.35% 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 AMYY at 85.40%. 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 trading near $15.69, the strikes shown on this page are snapped to the nearest listed AMYY chain strike and the premiums come straight from the end-of-day 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 end-of-day chain at a 30-day expiry (ATM IV 85.40%), the computed maximum profit is $52.00 per contract and the computed maximum loss is -$48.00 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 $15.48 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current AMYY market-implied 1-standard-deviation expected move is approximately 24.48%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
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?: AMYY ATM IV is at 85.40% with IV rank near 17.35%, 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.