How are FSOL 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 FSOL collar priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 60.10%), the computed maximum profit is $119.50 per contract and the computed maximum loss is -$80.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a FSOL collar?

The breakeven for the FSOL collar priced on this page is roughly $13.81 at expiration, derived from the September 29, 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 FSOL market-implied 1-standard-deviation expected move in the same options snapshot is approximately 17.23%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current FSOL implied volatility affect this collar?

FSOL ATM IV is at 60.10% with IV rank near 11.90%, 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.

FSOL Collar Strategy

FSOL (Fidelity Solana Fund), in the Financial Services sector, (Asset Management industry), listed on AMEX.

FSOL is passively managed to track the price performance of Solana (SOL), as measured by the Fidelity Solana Reference Rate, adjusted for expenses and staking rewards. The Trust holds SOL and stakes it via institutional custodians to earn staking rewards, with these rewards expected to allow the Trust to outperform the reference rate before expenses. The reference rate uses SOL price feeds and volume-weighted median pricing, updating every 15 seconds. Investors have exposure to SOL without direct digital asset handling. SOL is the asset powering the decentralized Solana blockchain, used for transactions and smart contracts. The Solana network is often praised for its speed and low costs, some question the reliability as the platform has a history of outages and is too centralized.

FSOL (Fidelity Solana Fund) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $228.6M, a beta of 0.97 versus the broader market, a 52-week range of 7.26-17.48, average daily share volume of 325K, a public-listing history dating back to 2025. These structural characteristics shape how FSOL etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.97 places FSOL roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. FSOL pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a collar on FSOL?

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.

FSOL snapshot

As of September 29, 2026, spot at $13.98, ATM IV 60.10%, IV rank 11.90%, expected move 17.23%. The collar on FSOL below is built from the September 29, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 17-day expiry.

Why this collar structure on FSOL specifically: IV regime affects collar pricing on both sides; compressed FSOL IV at 60.10% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 17.23% (roughly $2.41 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated FSOL expiries trade a higher absolute premium for lower per-day decay. Position sizing on FSOL should anchor to the underlying notional of $13.98 per share and to the trader's directional view on FSOL etf.

FSOL collar setup

The FSOL collar below is built from the September 29, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With FSOL at $13.98 on that close, the first option leg uses a $15.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FSOL chain at a 17-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 FSOL shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$13.98	long
Sell 1	Call	$15.00	$0.45
Buy 1	Put	$13.00	$0.28

FSOL collar risk and reward

Net Premium / Debit: -$1,380.50
Max Profit (per contract): $119.50
Max Loss (per contract): -$80.50
Breakeven(s): $13.81
Risk / Reward Ratio: 1.484

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.

FSOL collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on FSOL. 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%	-$80.50
$3.10	-77.8%	-$80.50
$6.19	-55.7%	-$80.50
$9.28	-33.6%	-$80.50
$12.37	-11.5%	-$80.50
$15.46	+10.6%	+$119.50
$18.55	+32.7%	+$119.50
$21.64	+54.8%	+$119.50
$24.73	+76.9%	+$119.50
$27.82	+99.0%	+$119.50

When traders use collar on FSOL

Collars on FSOL hedge an existing long FSOL 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.

FSOL thesis for this collar

The market-implied 1-standard-deviation range for FSOL extends from approximately $11.57 on the downside to $16.39 on the upside. A FSOL collar hedges an existing long FSOL 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 FSOL IV rank near 11.90% 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 FSOL at 60.10%. As a Financial Services name, FSOL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FSOL-specific events.

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

Frequently asked questions

What is a collar on FSOL?: A collar on FSOL is the collar strategy applied to FSOL (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 FSOL etf at $13.98 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed FSOL chain strike and the premiums come straight from that session's bid/ask midpoint.
How are FSOL 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 FSOL collar priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 60.10%), the computed maximum profit is $119.50 per contract and the computed maximum loss is -$80.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a FSOL collar?: The breakeven for the FSOL collar priced on this page is roughly $13.81 at expiration, derived from the September 29, 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 FSOL market-implied 1-standard-deviation expected move in the same options snapshot is approximately 17.23%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on FSOL?: Collars on FSOL hedge an existing long FSOL 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 FSOL implied volatility affect this collar?: FSOL ATM IV is at 60.10% with IV rank near 11.90%, 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.