How are EWN 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 EWN 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 $351.50 per contract and the computed maximum loss is -$348.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a EWN collar?

The breakeven for the EWN collar priced on this page is roughly $64.49 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 EWN implied volatility affect this collar?

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

EWN Collar Strategy

EWN (iShares MSCI Netherlands ETF), in the Financial Services sector, (Asset Management - Global industry), listed on AMEX.

The iShares MSCI Netherlands ETF is designed to replicate the financial performance of a comprehensive benchmark index made up of equity securities from the Netherlands.

EWN (iShares MSCI Netherlands ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $602.3M, a beta of 1.14 versus the broader market, a 52-week range of 54.99-71.85, average daily share volume of 209K, a public-listing history dating back to 1996. These structural characteristics shape how EWN etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.14 places EWN roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. EWN pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a collar on EWN?

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.

EWN snapshot

As of November 13, 2026, spot at $64.64. The collar on EWN 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 63-day expiry.

Why this collar structure on EWN specifically: IV rank is unavailable in the current snapshot, so regime-based timing for EWN is inferred from ATM IV alone. The 63-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated EWN expiries trade a higher absolute premium for lower per-day decay. Position sizing on EWN should anchor to the underlying notional of $64.64 per share and to the trader's directional view on EWN etf.

EWN collar setup

The EWN 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 EWN at $64.64 on that close, the first option leg uses a $68.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EWN chain at a 63-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 EWN shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$64.64	long
Sell 1	Call	$68.00	$2.13
Buy 1	Put	$61.00	$1.97

EWN collar risk and reward

Net Premium / Debit: -$6,448.50
Max Profit (per contract): $351.50
Max Loss (per contract): -$348.50
Breakeven(s): $64.49
Risk / Reward Ratio: 1.009

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.

EWN collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on EWN. 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%	-$348.50
$14.30	-77.9%	-$348.50
$28.59	-55.8%	-$348.50
$42.88	-33.7%	-$348.50
$57.17	-11.5%	-$348.50
$71.47	+10.6%	+$351.50
$85.76	+32.7%	+$351.50
$100.05	+54.8%	+$351.50
$114.34	+76.9%	+$351.50
$128.63	+99.0%	+$351.50

When traders use collar on EWN

Collars on EWN hedge an existing long EWN 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.

EWN thesis for this collar

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

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

Frequently asked questions

What is a collar on EWN?: A collar on EWN is the collar strategy applied to EWN (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 EWN etf at $64.64 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed EWN chain strike and the premiums come straight from that session's bid/ask midpoint.
How are EWN 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 EWN 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 $351.50 per contract and the computed maximum loss is -$348.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a EWN collar?: The breakeven for the EWN collar priced on this page is roughly $64.49 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 EWN?: Collars on EWN hedge an existing long EWN 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 EWN implied volatility affect this collar?: Current EWN ATM IV is the current ATM IV; IV rank context is unavailable in the current snapshot.