PRNT Collar Strategy
PRNT (The 3D Printing ETF), in the Financial Services sector, (Asset Management industry), listed on CBOE.
The fund normally invests at least 80% of its total assets in securities that are included in the fund's benchmark index, depositary receipts representing securities included in the index or underlying stocks in respect of depositary receipts included in the index. The index is designed to track the price movements of stocks of companies involved in the 3D printing industry. The fund is non-diversified.
PRNT (The 3D Printing ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $79.4M, a beta of 1.62 versus the broader market, a 52-week range of 19.822-24.725, average daily share volume of 11K, a public-listing history dating back to 2016. These structural characteristics shape how PRNT etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.62 indicates PRNT has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. PRNT pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on PRNT?
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 PRNT snapshot
As of May 14, 2026, spot at $24.55, ATM IV 32.30%, IV rank 3.92%, expected move 9.26%. The collar on PRNT 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 35-day expiry.
Why this collar structure on PRNT specifically: IV regime affects collar pricing on both sides; compressed PRNT IV at 32.30% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 9.26% (roughly $2.27 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 PRNT expiries trade a higher absolute premium for lower per-day decay. Position sizing on PRNT should anchor to the underlying notional of $24.55 per share and to the trader's directional view on PRNT etf.
PRNT collar setup
The PRNT 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 PRNT near $24.55, the first option leg uses a $25.78 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PRNT 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 PRNT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $24.55 | long |
| Sell 1 | Call | $25.78 | N/A |
| Buy 1 | Put | $23.32 | N/A |
PRNT collar risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
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.
PRNT collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on PRNT. 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.
When traders use collar on PRNT
Collars on PRNT hedge an existing long PRNT 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.
PRNT thesis for this collar
The market-implied 1-standard-deviation range for PRNT extends from approximately $22.28 on the downside to $26.82 on the upside. A PRNT collar hedges an existing long PRNT 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 PRNT IV rank near 3.92% 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 PRNT at 32.30%. As a Financial Services name, PRNT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PRNT-specific events.
PRNT 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. PRNT positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move PRNT alongside the broader basket even when PRNT-specific fundamentals are unchanged. Always rebuild the position from current PRNT chain quotes before placing a trade.
Frequently asked questions
- What is a collar on PRNT?
- A collar on PRNT is the collar strategy applied to PRNT (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 PRNT etf trading near $24.55, the strikes shown on this page are snapped to the nearest listed PRNT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are PRNT 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 PRNT collar priced from the end-of-day chain at a 30-day expiry (ATM IV 32.30%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a PRNT collar?
- The breakeven for the PRNT 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 PRNT market-implied 1-standard-deviation expected move is approximately 9.26%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on PRNT?
- Collars on PRNT hedge an existing long PRNT 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 PRNT implied volatility affect this collar?
- PRNT ATM IV is at 32.30% with IV rank near 3.92%, 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.