PTNQ Collar Strategy
PTNQ (Pacer Trendpilot 100 ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.
The Pacer Trendpilot 100 ETF operates as an exchange-traded fund, with its primary goal being to accurately reflect the comprehensive return generated by the Pacer NASDAQ-100 Trendpilot Index, preceding the deduction of any associated fees and expenditures.
PTNQ (Pacer Trendpilot 100 ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $1.33B, a beta of 0.80 versus the broader market, a 52-week range of 70.4-90.15, average daily share volume of 37K, a public-listing history dating back to 2015. These structural characteristics shape how PTNQ etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.80 places PTNQ roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. PTNQ pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on PTNQ?
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 PTNQ snapshot
As of June 29, 2026, spot at $87.27, ATM IV 21.80%, IV rank 53.00%, expected move 6.25%. The collar on PTNQ 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 80-day expiry.
Why this collar structure on PTNQ specifically: IV regime affects collar pricing on both sides; mid-range PTNQ IV at 21.80% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 6.25% (roughly $5.45 on the underlying). The 80-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated PTNQ expiries trade a higher absolute premium for lower per-day decay. Position sizing on PTNQ should anchor to the underlying notional of $87.27 per share and to the trader's directional view on PTNQ etf.
PTNQ collar setup
The PTNQ 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 PTNQ near $87.27, the first option leg uses a $92.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PTNQ chain at a 80-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 PTNQ shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $87.27 | long |
| Sell 1 | Call | $92.00 | $1.78 |
| Buy 1 | Put | $83.00 | $0.98 |
PTNQ collar risk and reward
- Net Premium / Debit
- -$8,647.50
- Max Profit (per contract)
- $552.50
- Max Loss (per contract)
- -$347.50
- Breakeven(s)
- $86.48
- Risk / Reward Ratio
- 1.590
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.
PTNQ collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on PTNQ. 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% | -$347.50 |
| $19.30 | -77.9% | -$347.50 |
| $38.60 | -55.8% | -$347.50 |
| $57.89 | -33.7% | -$347.50 |
| $77.19 | -11.6% | -$347.50 |
| $96.48 | +10.6% | +$552.50 |
| $115.78 | +32.7% | +$552.50 |
| $135.07 | +54.8% | +$552.50 |
| $154.37 | +76.9% | +$552.50 |
| $173.66 | +99.0% | +$552.50 |
When traders use collar on PTNQ
Collars on PTNQ hedge an existing long PTNQ 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.
PTNQ thesis for this collar
The market-implied 1-standard-deviation range for PTNQ extends from approximately $81.82 on the downside to $92.72 on the upside. A PTNQ collar hedges an existing long PTNQ 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 PTNQ IV rank near 53.00% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on PTNQ should anchor more to the directional view and the expected-move geometry. As a Financial Services name, PTNQ options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PTNQ-specific events.
PTNQ 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. PTNQ positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move PTNQ alongside the broader basket even when PTNQ-specific fundamentals are unchanged. Always rebuild the position from current PTNQ chain quotes before placing a trade.
Frequently asked questions
- What is a collar on PTNQ?
- A collar on PTNQ is the collar strategy applied to PTNQ (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 PTNQ etf trading near $87.27, the strikes shown on this page are snapped to the nearest listed PTNQ chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are PTNQ 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 PTNQ collar priced from the end-of-day chain at a 30-day expiry (ATM IV 21.80%), the computed maximum profit is $552.50 per contract and the computed maximum loss is -$347.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a PTNQ collar?
- The breakeven for the PTNQ collar priced on this page is roughly $86.48 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 PTNQ market-implied 1-standard-deviation expected move is approximately 6.25%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on PTNQ?
- Collars on PTNQ hedge an existing long PTNQ 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 PTNQ implied volatility affect this collar?
- PTNQ ATM IV is at 21.80% with IV rank near 53.00%, 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.