MVLL Collar Strategy
MVLL (GraniteShares 2x Long MRVL Daily ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.
This ETF aims to deliver daily investment results, prior to accounting for fees and expenses, that are two times (200%) the daily percentage movement of Marvell Technology, Inc.'s (NASDAQ: MRVL) common stock. It is important to note that the fund's ability to consistently achieve this stated objective is not guaranteed. Furthermore, for investment periods extending beyond a single day, one should not anticipate that the fund's cumulative returns will precisely double those of MRVL.
MVLL (GraniteShares 2x Long MRVL Daily ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $318.6M, a beta of 8.37 versus the broader market, a 52-week range of 4.321-77.66666, average daily share volume of 5.2M, a public-listing history dating back to 2025. These structural characteristics shape how MVLL etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 8.37 indicates MVLL has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a collar on MVLL?
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.
MVLL snapshot
As of August 14, 2026, spot at $27.38, ATM IV 159.80%, IV rank 48.43%, expected move 45.81%. The collar on MVLL 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 MVLL specifically: IV regime affects collar pricing on both sides; mid-range MVLL IV at 159.80% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 45.81% (roughly $12.54 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 MVLL expiries trade a higher absolute premium for lower per-day decay. Position sizing on MVLL should anchor to the underlying notional of $27.38 per share and to the trader's directional view on MVLL etf.
MVLL collar setup
The MVLL 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 MVLL at $27.38 on that close, the first option leg uses a $29.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MVLL 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 MVLL shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $27.38 | long |
| Sell 1 | Call | $29.00 | $4.60 |
| Buy 1 | Put | $26.00 | $4.60 |
MVLL collar risk and reward
- Net Premium / Debit
- -$2,738.00
- Max Profit (per contract)
- $162.00
- Max Loss (per contract)
- -$138.00
- Breakeven(s)
- $27.38
- Risk / Reward Ratio
- 1.174
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.
MVLL collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on MVLL. 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% | -$138.00 |
| $6.06 | -77.9% | -$138.00 |
| $12.12 | -55.8% | -$138.00 |
| $18.17 | -33.6% | -$138.00 |
| $24.22 | -11.5% | -$138.00 |
| $30.27 | +10.6% | +$162.00 |
| $36.33 | +32.7% | +$162.00 |
| $42.38 | +54.8% | +$162.00 |
| $48.43 | +76.9% | +$162.00 |
| $54.48 | +99.0% | +$162.00 |
When traders use collar on MVLL
Collars on MVLL hedge an existing long MVLL 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.
MVLL thesis for this collar
The market-implied 1-standard-deviation range for MVLL extends from approximately $14.84 on the downside to $39.92 on the upside. A MVLL collar hedges an existing long MVLL 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 MVLL IV rank near 48.43% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on MVLL should anchor more to the directional view and the expected-move geometry. As a Financial Services name, MVLL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MVLL-specific events.
MVLL 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. MVLL positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MVLL alongside the broader basket even when MVLL-specific fundamentals are unchanged. Always rebuild the position from current MVLL chain quotes before placing a trade.
Frequently asked questions
- What is a collar on MVLL?
- A collar on MVLL is the collar strategy applied to MVLL (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 MVLL etf at $27.38 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed MVLL chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are MVLL 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 MVLL collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 159.80%), the computed maximum profit is $162.00 per contract and the computed maximum loss is -$138.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a MVLL collar?
- The breakeven for the MVLL collar priced on this page is roughly $27.38 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 MVLL market-implied 1-standard-deviation expected move in the same options snapshot is approximately 45.81%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on MVLL?
- Collars on MVLL hedge an existing long MVLL 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 MVLL implied volatility affect this collar?
- MVLL ATM IV is at 159.80% with IV rank near 48.43%, 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.