DUHP Collar Strategy
DUHP (U.S. High Relative Profitability Portfolio ETF Class Shares), in the Financial Services sector, (Asset Management industry), listed on AMEX.
The Dimensional - US High Profitability ETF (DUHP) aims to create a diverse portfolio of liquid investments in substantial American companies. Its strategy focuses on selecting large U.S. firms that the Advisor identifies as exhibiting superior profitability when benchmarked against other U.S. large-cap companies at the point of investment. Typically, the fund maintains at least an 80% allocation of its net assets to securities issued by U.S. companies.
DUHP (U.S. High Relative Profitability Portfolio ETF Class Shares) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $12.71B, a beta of 0.86 versus the broader market, a 52-week range of 35.69-43.3, average daily share volume of 940K, a public-listing history dating back to 2022. These structural characteristics shape how DUHP etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.86 places DUHP roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. DUHP pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on DUHP?
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.
DUHP snapshot
As of November 13, 2026, spot at $42.36. The collar on DUHP 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 DUHP specifically: IV rank is unavailable in the current snapshot, so regime-based timing for DUHP 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 DUHP expiries trade a higher absolute premium for lower per-day decay. Position sizing on DUHP should anchor to the underlying notional of $42.36 per share and to the trader's directional view on DUHP etf.
DUHP collar setup
The DUHP 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 DUHP at $42.36 on that close, the first option leg uses a $44.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DUHP 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 DUHP shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $42.36 | long |
| Sell 1 | Call | $44.00 | $0.40 |
| Buy 1 | Put | $40.00 | $0.18 |
DUHP collar risk and reward
- Net Premium / Debit
- -$4,214.00
- Max Profit (per contract)
- $186.00
- Max Loss (per contract)
- -$214.00
- Breakeven(s)
- $42.14
- Risk / Reward Ratio
- 0.869
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.
DUHP collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on DUHP. 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 | -100.0% | -$214.00 |
| $9.37 | -77.9% | -$214.00 |
| $18.74 | -55.8% | -$214.00 |
| $28.10 | -33.7% | -$214.00 |
| $37.47 | -11.5% | -$214.00 |
| $46.83 | +10.6% | +$186.00 |
| $56.20 | +32.7% | +$186.00 |
| $65.56 | +54.8% | +$186.00 |
| $74.93 | +76.9% | +$186.00 |
| $84.29 | +99.0% | +$186.00 |
When traders use collar on DUHP
Collars on DUHP hedge an existing long DUHP 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.
DUHP thesis for this collar
A DUHP collar hedges an existing long DUHP 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, DUHP options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DUHP-specific events.
DUHP 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. DUHP positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move DUHP alongside the broader basket even when DUHP-specific fundamentals are unchanged. Always rebuild the position from current DUHP chain quotes before placing a trade.
Frequently asked questions
- What is a collar on DUHP?
- A collar on DUHP is the collar strategy applied to DUHP (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 DUHP etf at $42.36 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed DUHP chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are DUHP 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 DUHP 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 $186.00 per contract and the computed maximum loss is -$214.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a DUHP collar?
- The breakeven for the DUHP collar priced on this page is roughly $42.14 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 DUHP?
- Collars on DUHP hedge an existing long DUHP 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 DUHP implied volatility affect this collar?
- Current DUHP ATM IV is the current ATM IV; IV rank context is unavailable in the current snapshot.