GCOR Collar Strategy
GCOR (Goldman Sachs Access U.S. Aggregate Bond ETF), in the Financial Services sector, (Asset Management - Bonds industry), listed on AMEX.
The Goldman Sachs Access U.S. Aggregate Bond ETF (GCOR) aims to mirror the performance of the FTSE Goldman Sachs US Broad Bond Market Index.
GCOR (Goldman Sachs Access U.S. Aggregate Bond ETF) trades in the Financial Services sector, specifically Asset Management - Bonds, with a market capitalization of approximately $794.9M, a beta of 1.01 versus the broader market, a 52-week range of 40.38-42.22, average daily share volume of 78K, a public-listing history dating back to 2020. These structural characteristics shape how GCOR etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.01 places GCOR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. GCOR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on GCOR?
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.
GCOR snapshot
As of August 14, 2026, spot at $40.52, ATM IV 22.90%, IV rank 2.82%, expected move 6.57%. The collar on GCOR 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 GCOR specifically: IV regime affects collar pricing on both sides; compressed GCOR IV at 22.90% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 6.57% (roughly $2.66 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 GCOR expiries trade a higher absolute premium for lower per-day decay. Position sizing on GCOR should anchor to the underlying notional of $40.52 per share and to the trader's directional view on GCOR etf.
GCOR collar setup
The GCOR 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 GCOR at $40.52 on that close, the first option leg uses a $43.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GCOR 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 GCOR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $40.52 | long |
| Sell 1 | Call | $43.00 | $0.33 |
| Buy 1 | Put | $38.00 | $0.27 |
GCOR collar risk and reward
- Net Premium / Debit
- -$4,046.00
- Max Profit (per contract)
- $254.00
- Max Loss (per contract)
- -$246.00
- Breakeven(s)
- $40.46
- Risk / Reward Ratio
- 1.033
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.
GCOR collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on GCOR. 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% | -$246.00 |
| $8.97 | -77.9% | -$246.00 |
| $17.93 | -55.8% | -$246.00 |
| $26.88 | -33.7% | -$246.00 |
| $35.84 | -11.5% | -$246.00 |
| $44.80 | +10.6% | +$254.00 |
| $53.76 | +32.7% | +$254.00 |
| $62.72 | +54.8% | +$254.00 |
| $71.67 | +76.9% | +$254.00 |
| $80.63 | +99.0% | +$254.00 |
When traders use collar on GCOR
Collars on GCOR hedge an existing long GCOR 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.
GCOR thesis for this collar
The market-implied 1-standard-deviation range for GCOR extends from approximately $37.86 on the downside to $43.18 on the upside. A GCOR collar hedges an existing long GCOR 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 GCOR IV rank near 2.82% 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 GCOR at 22.90%. As a Financial Services name, GCOR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GCOR-specific events.
GCOR 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. GCOR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GCOR alongside the broader basket even when GCOR-specific fundamentals are unchanged. Always rebuild the position from current GCOR chain quotes before placing a trade.
Frequently asked questions
- What is a collar on GCOR?
- A collar on GCOR is the collar strategy applied to GCOR (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 GCOR etf at $40.52 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed GCOR chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are GCOR 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 GCOR collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 22.90%), the computed maximum profit is $254.00 per contract and the computed maximum loss is -$246.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a GCOR collar?
- The breakeven for the GCOR collar priced on this page is roughly $40.46 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 GCOR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 6.57%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on GCOR?
- Collars on GCOR hedge an existing long GCOR 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 GCOR implied volatility affect this collar?
- GCOR ATM IV is at 22.90% with IV rank near 2.82%, 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.