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 August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 90.70%), the computed maximum profit is $114.50 per contract and the computed maximum loss is -$85.50 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 $18.86 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 PTIR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 26.00%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current PTIR implied volatility affect this collar?

PTIR ATM IV is at 90.70% with IV rank near 55.85%, 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.

PTIR Collar Strategy

PTIR (GraniteShares 2x Long PLTR Daily ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.

This Fund aims to deliver daily investment performance that, before accounting for fees and expenses, is equivalent to two times (200%) the daily percentage movement of Palantir Technologies Inc.'s common stock (NASDAQ: PLTR). It is important to note that the Fund cannot guarantee it will consistently achieve this objective. Furthermore, for holding periods extending beyond a single day, investors should not anticipate its cumulative return to directly correspond to twice the cumulative return of PLTR.

PTIR (GraniteShares 2x Long PLTR Daily ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $515.2M, a beta of 2.34 versus the broader market, a 52-week range of 7.845-40.78, average daily share volume of 5.4M, 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 2.34 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.

PTIR snapshot

As of August 14, 2026, spot at $18.98, ATM IV 90.70%, IV rank 55.85%, expected move 26.00%. The collar on PTIR 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 PTIR specifically: IV regime affects collar pricing on both sides; mid-range PTIR IV at 90.70% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 26.00% (roughly $4.94 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 PTIR expiries trade a higher absolute premium for lower per-day decay. Position sizing on PTIR should anchor to the underlying notional of $18.98 per share and to the trader's directional view on PTIR etf.

PTIR collar setup

The PTIR 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 PTIR at $18.98 on that close, the first option leg uses a $20.00 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 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 PTIR shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$18.98	long
Sell 1	Call	$20.00	$1.60
Buy 1	Put	$18.00	$1.48

PTIR collar risk and reward

Net Premium / Debit: -$1,885.50
Max Profit (per contract): $114.50
Max Loss (per contract): -$85.50
Breakeven(s): $18.86
Risk / Reward Ratio: 1.339

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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-99.9%	-$85.50
$4.21	-77.8%	-$85.50
$8.40	-55.7%	-$85.50
$12.60	-33.6%	-$85.50
$16.79	-11.5%	-$85.50
$20.99	+10.6%	+$114.50
$25.18	+32.7%	+$114.50
$29.38	+54.8%	+$114.50
$33.57	+76.9%	+$114.50
$37.77	+99.0%	+$114.50

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 $14.04 on the downside to $23.92 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 55.85% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on PTIR should anchor more to the directional view and the expected-move geometry. 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 at $18.98 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed PTIR chain strike and the premiums come straight from that session's 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 August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 90.70%), the computed maximum profit is $114.50 per contract and the computed maximum loss is -$85.50 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 $18.86 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 PTIR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 26.00%; 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 90.70% with IV rank near 55.85%, 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.