MTYY Collar Strategy
MTYY (GraniteShares YieldBOOST MSTR ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.
The primary goal of this Fund is to generate current income for its investors. Its secondary objective is to provide exposure to the daily performance of MicroStrategy Inc. (MSTR) common stock. This is achieved by investing in other U.S.-regulated exchange-traded funds (ETFs) which are designed to deliver two times (200%) the daily percentage movement of MSTR shares, though there is a predetermined cap on the potential investment gains.
MTYY (GraniteShares YieldBOOST MSTR ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $200,592, a beta of 0.84 versus the broader market, a 52-week range of 19.4247-151.02, average daily share volume of 3K, a public-listing history dating back to 2025. These structural characteristics shape how MTYY etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.84 places MTYY roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. MTYY pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on MTYY?
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 MTYY snapshot
As of June 30, 2026, spot at $26.32, ATM IV 351.40%, IV rank 62.00%, expected move 100.74%. The collar on MTYY 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 234-day expiry.
Why this collar structure on MTYY specifically: IV regime affects collar pricing on both sides; mid-range MTYY IV at 351.40% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 100.74% (roughly $26.52 on the underlying). The 234-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated MTYY expiries trade a higher absolute premium for lower per-day decay. Position sizing on MTYY should anchor to the underlying notional of $26.32 per share and to the trader's directional view on MTYY etf.
MTYY collar setup
The MTYY 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 MTYY near $26.32, the first option leg uses a $28.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MTYY chain at a 234-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 MTYY shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $26.32 | long |
| Sell 1 | Call | $28.00 | $4.80 |
| Buy 1 | Put | $25.00 | $13.90 |
MTYY collar risk and reward
- Net Premium / Debit
- -$3,542.00
- Max Profit (per contract)
- -$742.00
- Max Loss (per contract)
- -$1,042.00
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- -0.712
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.
MTYY collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on MTYY. 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% | -$1,042.00 |
| $5.83 | -77.9% | -$1,042.00 |
| $11.65 | -55.7% | -$1,042.00 |
| $17.47 | -33.6% | -$1,042.00 |
| $23.28 | -11.5% | -$1,042.00 |
| $29.10 | +10.6% | -$742.00 |
| $34.92 | +32.7% | -$742.00 |
| $40.74 | +54.8% | -$742.00 |
| $46.56 | +76.9% | -$742.00 |
| $52.38 | +99.0% | -$742.00 |
When traders use collar on MTYY
Collars on MTYY hedge an existing long MTYY 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.
MTYY thesis for this collar
The market-implied 1-standard-deviation range for MTYY extends from approximately $-0.20 on the downside to $52.84 on the upside. A MTYY collar hedges an existing long MTYY 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 MTYY IV rank near 62.00% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on MTYY should anchor more to the directional view and the expected-move geometry. As a Financial Services name, MTYY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MTYY-specific events.
MTYY 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. MTYY positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MTYY alongside the broader basket even when MTYY-specific fundamentals are unchanged. Always rebuild the position from current MTYY chain quotes before placing a trade.
Frequently asked questions
- What is a collar on MTYY?
- A collar on MTYY is the collar strategy applied to MTYY (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 MTYY etf trading near $26.32, the strikes shown on this page are snapped to the nearest listed MTYY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are MTYY 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 MTYY collar priced from the end-of-day chain at a 30-day expiry (ATM IV 351.40%), the computed maximum profit is -$742.00 per contract and the computed maximum loss is -$1,042.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a MTYY collar?
- The breakeven for the MTYY collar priced on this page is no defined breakeven on the modeled curve 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 MTYY market-implied 1-standard-deviation expected move is approximately 100.74%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on MTYY?
- Collars on MTYY hedge an existing long MTYY 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 MTYY implied volatility affect this collar?
- MTYY ATM IV is at 351.40% with IV rank near 62.00%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.