PTIR Collar Strategy
PTIR (GraniteShares 2x Long PLTR Daily ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.
The Fund seeks daily investment results, before fees and expenses, of 2 times (200%) the daily percentage change of the common stock of Palantir Technologies Inc, (NASDAQ: PLTR) There is no guarantee that the Fund will meet its stated objective. The fund should not be expected to provide 2 times the cumulative return of PLTR for periods greater than a day.
PTIR (GraniteShares 2x Long PLTR Daily ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $362.4M, a beta of 1.87 versus the broader market, a 52-week range of 11.32-40.78, average daily share volume of 5.2M, a public-listing history dating back to 2024. These structural characteristics shape how PTIR etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.87 indicates PTIR has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. PTIR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on PTIR?
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 PTIR snapshot
As of May 15, 2026, spot at $13.14, ATM IV 101.20%, IV rank 24.90%, expected move 29.01%. The collar on PTIR 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 PTIR specifically: IV regime affects collar pricing on both sides; compressed PTIR IV at 101.20% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 29.01% (roughly $3.81 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 PTIR expiries trade a higher absolute premium for lower per-day decay. Position sizing on PTIR should anchor to the underlying notional of $13.14 per share and to the trader's directional view on PTIR etf.
PTIR collar setup
The PTIR 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 PTIR near $13.14, the first option leg uses a $14.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PTIR 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 PTIR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $13.14 | long |
| Sell 1 | Call | $14.00 | $1.15 |
| Buy 1 | Put | $12.00 | $0.90 |
PTIR collar risk and reward
- Net Premium / Debit
- -$1,289.00
- Max Profit (per contract)
- $111.00
- Max Loss (per contract)
- -$89.00
- Breakeven(s)
- $12.89
- Risk / Reward Ratio
- 1.247
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.
PTIR collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on PTIR. 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 | -99.9% | -$89.00 |
| $2.91 | -77.8% | -$89.00 |
| $5.82 | -55.7% | -$89.00 |
| $8.72 | -33.6% | -$89.00 |
| $11.63 | -11.5% | -$89.00 |
| $14.53 | +10.6% | +$111.00 |
| $17.44 | +32.7% | +$111.00 |
| $20.34 | +54.8% | +$111.00 |
| $23.24 | +76.9% | +$111.00 |
| $26.15 | +99.0% | +$111.00 |
When traders use collar on PTIR
Collars on PTIR hedge an existing long PTIR 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.
PTIR thesis for this collar
The market-implied 1-standard-deviation range for PTIR extends from approximately $9.33 on the downside to $16.95 on the upside. A PTIR collar hedges an existing long PTIR 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 PTIR IV rank near 24.90% 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 PTIR at 101.20%. As a Financial Services name, PTIR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PTIR-specific events.
PTIR 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. PTIR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move PTIR alongside the broader basket even when PTIR-specific fundamentals are unchanged. Always rebuild the position from current PTIR chain quotes before placing a trade.
Frequently asked questions
- What is a collar on PTIR?
- A collar on PTIR is the collar strategy applied to PTIR (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 PTIR etf trading near $13.14, the strikes shown on this page are snapped to the nearest listed PTIR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are PTIR 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 PTIR collar priced from the end-of-day chain at a 30-day expiry (ATM IV 101.20%), the computed maximum profit is $111.00 per contract and the computed maximum loss is -$89.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a PTIR collar?
- The breakeven for the PTIR collar priced on this page is roughly $12.89 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 PTIR market-implied 1-standard-deviation expected move is approximately 29.01%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on PTIR?
- Collars on PTIR hedge an existing long PTIR 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 PTIR implied volatility affect this collar?
- PTIR ATM IV is at 101.20% with IV rank near 24.90%, 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.