How are DFUV 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 DFUV collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 10.20%), the computed maximum profit is $330.00 per contract and the computed maximum loss is -$270.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a DFUV collar?

The breakeven for the DFUV collar priced on this page is roughly $57.70 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 DFUV market-implied 1-standard-deviation expected move in the same options snapshot is approximately 2.92%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current DFUV implied volatility affect this collar?

DFUV ATM IV is at 10.20% with IV rank near 4.12%, 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.

DFUV Collar Strategy

DFUV (Dimensional - US Marketwide Value ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.

This ETF primarily invests in a diverse and extensive selection of American companies that its Advisor identifies as value stocks. The fund's strategy is not limited by company size, as it evaluates firms across the entire spectrum of market capitalizations. To effectively adjust its equity market exposure, either upwards or downwards, based on the actual or projected flow of cash into or out of the portfolio, it may employ futures and options contracts related to U.S. equities and indices.

DFUV (Dimensional - US Marketwide Value ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $15.83B, a beta of 0.80 versus the broader market, a 52-week range of 43.143-57.54, average daily share volume of 425K, a public-listing history dating back to 2022. These structural characteristics shape how DFUV etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.80 places DFUV roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. DFUV pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a collar on DFUV?

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.

DFUV snapshot

As of August 14, 2026, spot at $57.70, ATM IV 10.20%, IV rank 4.12%, expected move 2.92%. The collar on DFUV 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 DFUV specifically: IV regime affects collar pricing on both sides; compressed DFUV IV at 10.20% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 2.92% (roughly $1.69 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 DFUV expiries trade a higher absolute premium for lower per-day decay. Position sizing on DFUV should anchor to the underlying notional of $57.70 per share and to the trader's directional view on DFUV etf.

DFUV collar setup

The DFUV 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 DFUV at $57.70 on that close, the first option leg uses a $61.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DFUV 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 DFUV shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$57.70	long
Sell 1	Call	$61.00	$0.12
Buy 1	Put	$55.00	$0.12

DFUV collar risk and reward

Net Premium / Debit: -$5,770.00
Max Profit (per contract): $330.00
Max Loss (per contract): -$270.00
Breakeven(s): $57.70
Risk / Reward Ratio: 1.222

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.

DFUV collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on DFUV. 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%	-$270.00
$12.77	-77.9%	-$270.00
$25.52	-55.8%	-$270.00
$38.28	-33.7%	-$270.00
$51.04	-11.5%	-$270.00
$63.79	+10.6%	+$330.00
$76.55	+32.7%	+$330.00
$89.31	+54.8%	+$330.00
$102.06	+76.9%	+$330.00
$114.82	+99.0%	+$330.00

When traders use collar on DFUV

Collars on DFUV hedge an existing long DFUV 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.

DFUV thesis for this collar

The market-implied 1-standard-deviation range for DFUV extends from approximately $56.01 on the downside to $59.39 on the upside. A DFUV collar hedges an existing long DFUV 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 DFUV IV rank near 4.12% 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 DFUV at 10.20%. As a Financial Services name, DFUV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DFUV-specific events.

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

Frequently asked questions

What is a collar on DFUV?: A collar on DFUV is the collar strategy applied to DFUV (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 DFUV etf at $57.70 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed DFUV chain strike and the premiums come straight from that session's bid/ask midpoint.
How are DFUV 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 DFUV collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 10.20%), the computed maximum profit is $330.00 per contract and the computed maximum loss is -$270.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a DFUV collar?: The breakeven for the DFUV collar priced on this page is roughly $57.70 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 DFUV market-implied 1-standard-deviation expected move in the same options snapshot is approximately 2.92%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on DFUV?: Collars on DFUV hedge an existing long DFUV 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 DFUV implied volatility affect this collar?: DFUV ATM IV is at 10.20% with IV rank near 4.12%, 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.