How are AOR 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 AOR 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 $333.00 per contract and the computed maximum loss is -$367.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a AOR collar?

The breakeven for the AOR collar priced on this page is roughly $67.67 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.

How does current AOR implied volatility affect this collar?

Current AOR ATM IV is the current ATM IV; IV rank context is unavailable in the current snapshot.

AOR Collar Strategy

AOR (iShares Core 60/40 Balanced Allocation ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.

Designed to mirror a benchmark, the iShares Core 60/40 Balanced Allocation ETF invests in a blend of equity and fixed income instruments through underlying funds. Its objective is to capture the returns of an investment strategy balancing growth opportunities with a predefined risk profile.

AOR (iShares Core 60/40 Balanced Allocation ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $3.96B, a beta of 0.91 versus the broader market, a 52-week range of 62.96-70.49, average daily share volume of 477K, a public-listing history dating back to 2008. These structural characteristics shape how AOR etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.91 places AOR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. AOR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a collar on AOR?

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.

AOR snapshot

As of November 13, 2026, spot at $67.87. The collar on AOR 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 AOR specifically: IV rank is unavailable in the current snapshot, so regime-based timing for AOR 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 AOR expiries trade a higher absolute premium for lower per-day decay. Position sizing on AOR should anchor to the underlying notional of $67.87 per share and to the trader's directional view on AOR etf.

AOR collar setup

The AOR 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 AOR at $67.87 on that close, the first option leg uses a $71.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AOR 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 AOR shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$67.87	long
Sell 1	Call	$71.00	$0.31
Buy 1	Put	$64.00	$0.11

AOR collar risk and reward

Net Premium / Debit: -$6,767.00
Max Profit (per contract): $333.00
Max Loss (per contract): -$367.00
Breakeven(s): $67.67
Risk / Reward Ratio: 0.907

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.

AOR collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on AOR. 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%	-$367.00
$15.02	-77.9%	-$367.00
$30.02	-55.8%	-$367.00
$45.03	-33.7%	-$367.00
$60.03	-11.5%	-$367.00
$75.04	+10.6%	+$333.00
$90.04	+32.7%	+$333.00
$105.05	+54.8%	+$333.00
$120.05	+76.9%	+$333.00
$135.06	+99.0%	+$333.00

When traders use collar on AOR

Collars on AOR hedge an existing long AOR 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.

AOR thesis for this collar

A AOR collar hedges an existing long AOR 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, AOR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AOR-specific events.

AOR 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. AOR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AOR alongside the broader basket even when AOR-specific fundamentals are unchanged. Always rebuild the position from current AOR chain quotes before placing a trade.

Frequently asked questions

What is a collar on AOR?: A collar on AOR is the collar strategy applied to AOR (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 AOR etf at $67.87 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed AOR chain strike and the premiums come straight from that session's bid/ask midpoint.
How are AOR 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 AOR 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 $333.00 per contract and the computed maximum loss is -$367.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a AOR collar?: The breakeven for the AOR collar priced on this page is roughly $67.67 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 AOR?: Collars on AOR hedge an existing long AOR 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 AOR implied volatility affect this collar?: Current AOR ATM IV is the current ATM IV; IV rank context is unavailable in the current snapshot.