GOOP Collar Strategy
GOOP (Kurv Yield Premium Strategy Google (GOOGL) ETF), in the Financial Services sector, (Asset Management - Income industry), listed on CBOE.
The Kurv Yield Premium Strategy Google (GOOGL) ETF is designed to provide investors with a steady stream of income. It concurrently offers participation in the stock price performance of Alphabet Inc. (GOOGL) common shares, though potential capital gains from this exposure are capped at a specific limit.
GOOP (Kurv Yield Premium Strategy Google (GOOGL) ETF) trades in the Financial Services sector, specifically Asset Management - Income, with a market capitalization of approximately $10.4M, a beta of 1.30 versus the broader market, a 52-week range of 31.37-48.23, average daily share volume of 17K, a public-listing history dating back to 2023. These structural characteristics shape how GOOP etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.30 indicates GOOP has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. GOOP pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on GOOP?
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.
GOOP snapshot
As of September 29, 2026, spot at $35.41, ATM IV 17.20%, IV rank 1.86%, expected move 4.93%. The collar on GOOP 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 GOOP specifically: IV regime affects collar pricing on both sides; compressed GOOP IV at 17.20% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 4.93% (roughly $1.75 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 GOOP expiries trade a higher absolute premium for lower per-day decay. Position sizing on GOOP should anchor to the underlying notional of $35.41 per share and to the trader's directional view on GOOP etf.
GOOP collar setup
The GOOP 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 GOOP at $35.41 on that close, the first option leg uses a $37.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GOOP 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 GOOP shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $35.41 | long |
| Sell 1 | Call | $37.00 | $0.33 |
| Buy 1 | Put | $34.00 | $0.31 |
GOOP collar risk and reward
- Net Premium / Debit
- -$3,539.00
- Max Profit (per contract)
- $161.00
- Max Loss (per contract)
- -$139.00
- Breakeven(s)
- $35.39
- Risk / Reward Ratio
- 1.158
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.
GOOP collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on GOOP. 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% | -$139.00 |
| $7.84 | -77.9% | -$139.00 |
| $15.67 | -55.8% | -$139.00 |
| $23.49 | -33.6% | -$139.00 |
| $31.32 | -11.5% | -$139.00 |
| $39.15 | +10.6% | +$161.00 |
| $46.98 | +32.7% | +$161.00 |
| $54.81 | +54.8% | +$161.00 |
| $62.64 | +76.9% | +$161.00 |
| $70.46 | +99.0% | +$161.00 |
When traders use collar on GOOP
Collars on GOOP hedge an existing long GOOP 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.
GOOP thesis for this collar
The market-implied 1-standard-deviation range for GOOP extends from approximately $33.66 on the downside to $37.16 on the upside. A GOOP collar hedges an existing long GOOP 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 GOOP IV rank near 1.86% 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 GOOP at 17.20%. As a Financial Services name, GOOP options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GOOP-specific events.
GOOP 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. GOOP positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GOOP alongside the broader basket even when GOOP-specific fundamentals are unchanged. Always rebuild the position from current GOOP chain quotes before placing a trade.
Frequently asked questions
- What is a collar on GOOP?
- A collar on GOOP is the collar strategy applied to GOOP (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 GOOP etf at $35.41 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed GOOP chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are GOOP 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 GOOP collar priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 17.20%), the computed maximum profit is $161.00 per contract and the computed maximum loss is -$139.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a GOOP collar?
- The breakeven for the GOOP collar priced on this page is roughly $35.39 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 GOOP market-implied 1-standard-deviation expected move in the same options snapshot is approximately 4.93%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on GOOP?
- Collars on GOOP hedge an existing long GOOP 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 GOOP implied volatility affect this collar?
- GOOP ATM IV is at 17.20% with IV rank near 1.86%, 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.