IBUY Collar Strategy
IBUY (Amplify Online Retail ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.
The Amplify Online Retail ETF (IBUY) seeks to provide investment results that, before fees and expenses, correspond generally to the price performance of the EQM Online Retail Index. The index is a globally diverse basket of publicly-traded companies with significant revenue from the online retail business: traditional online retail; online travel; online marketplace; and omni channel retail.
IBUY (Amplify Online Retail ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $116.7M, a beta of 1.64 versus the broader market, a 52-week range of 58.08-79.055, average daily share volume of 16K, a public-listing history dating back to 2016. These structural characteristics shape how IBUY etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.64 indicates IBUY has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. IBUY pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on IBUY?
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.
Current IBUY snapshot
As of May 15, 2026, spot at $63.27, ATM IV 33.20%, IV rank 10.86%, expected move 9.52%. The collar on IBUY below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 34-day expiry.
Why this collar structure on IBUY specifically: IV regime affects collar pricing on both sides; compressed IBUY IV at 33.20% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 9.52% (roughly $6.02 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated IBUY expiries trade a higher absolute premium for lower per-day decay. Position sizing on IBUY should anchor to the underlying notional of $63.27 per share and to the trader's directional view on IBUY etf.
IBUY collar setup
The IBUY collar below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With IBUY near $63.27, the first option leg uses a $66.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed IBUY chain at a 34-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 IBUY shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $63.27 | long |
| Sell 1 | Call | $66.00 | $1.61 |
| Buy 1 | Put | $60.00 | $1.23 |
IBUY collar risk and reward
- Net Premium / Debit
- -$6,289.00
- Max Profit (per contract)
- $311.00
- Max Loss (per contract)
- -$289.00
- Breakeven(s)
- $62.89
- Risk / Reward Ratio
- 1.076
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.
IBUY collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on IBUY. 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% | -$289.00 |
| $14.00 | -77.9% | -$289.00 |
| $27.99 | -55.8% | -$289.00 |
| $41.97 | -33.7% | -$289.00 |
| $55.96 | -11.5% | -$289.00 |
| $69.95 | +10.6% | +$311.00 |
| $83.94 | +32.7% | +$311.00 |
| $97.93 | +54.8% | +$311.00 |
| $111.92 | +76.9% | +$311.00 |
| $125.90 | +99.0% | +$311.00 |
When traders use collar on IBUY
Collars on IBUY hedge an existing long IBUY 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.
IBUY thesis for this collar
The market-implied 1-standard-deviation range for IBUY extends from approximately $57.25 on the downside to $69.29 on the upside. A IBUY collar hedges an existing long IBUY 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 IBUY IV rank near 10.86% 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 IBUY at 33.20%. As a Financial Services name, IBUY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to IBUY-specific events.
IBUY 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. IBUY positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move IBUY alongside the broader basket even when IBUY-specific fundamentals are unchanged. Always rebuild the position from current IBUY chain quotes before placing a trade.
Frequently asked questions
- What is a collar on IBUY?
- A collar on IBUY is the collar strategy applied to IBUY (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 IBUY etf trading near $63.27, the strikes shown on this page are snapped to the nearest listed IBUY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are IBUY 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 IBUY collar priced from the end-of-day chain at a 30-day expiry (ATM IV 33.20%), the computed maximum profit is $311.00 per contract and the computed maximum loss is -$289.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a IBUY collar?
- The breakeven for the IBUY collar priced on this page is roughly $62.89 at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current IBUY market-implied 1-standard-deviation expected move is approximately 9.52%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on IBUY?
- Collars on IBUY hedge an existing long IBUY 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 IBUY implied volatility affect this collar?
- IBUY ATM IV is at 33.20% with IV rank near 10.86%, 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.