RGTX Collar Strategy
RGTX (Daily Target 2X Long RGTI ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.
The Defiance Daily Target 2X Long RGTI ETF (the “Fund”) seeks daily leveraged investment results of two times (200%) the daily percentage change in the share price of Rigetti Computing, Inc. (NASDAQ: RGTI). Because the Fund seeks daily leveraged investment results, it is very different from most other exchange-traded funds and 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 RGTI for periods greater than a single trading day.
RGTX (Daily Target 2X Long RGTI ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $15.5M, a beta of 8.41 versus the broader market, a 52-week range of 11.8-501.8, average daily share volume of 1.0M, a public-listing history dating back to 2025. These structural characteristics shape how RGTX etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 8.41 indicates RGTX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. RGTX pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on RGTX?
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 RGTX snapshot
As of May 15, 2026, spot at $20.84, ATM IV 193.80%, IV rank 32.01%, expected move 55.56%. The collar on RGTX 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 RGTX specifically: IV regime affects collar pricing on both sides; mid-range RGTX IV at 193.80% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 55.56% (roughly $11.58 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 RGTX expiries trade a higher absolute premium for lower per-day decay. Position sizing on RGTX should anchor to the underlying notional of $20.84 per share and to the trader's directional view on RGTX etf.
RGTX collar setup
The RGTX 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 RGTX near $20.84, the first option leg uses a $22.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed RGTX 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 RGTX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $20.84 | long |
| Sell 1 | Call | $22.00 | $4.55 |
| Buy 1 | Put | $20.00 | $4.20 |
RGTX collar risk and reward
- Net Premium / Debit
- -$2,049.00
- Max Profit (per contract)
- $151.00
- Max Loss (per contract)
- -$49.00
- Breakeven(s)
- $20.49
- Risk / Reward Ratio
- 3.082
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.
RGTX collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on RGTX. 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% | -$49.00 |
| $4.62 | -77.8% | -$49.00 |
| $9.22 | -55.7% | -$49.00 |
| $13.83 | -33.6% | -$49.00 |
| $18.44 | -11.5% | -$49.00 |
| $23.04 | +10.6% | +$151.00 |
| $27.65 | +32.7% | +$151.00 |
| $32.26 | +54.8% | +$151.00 |
| $36.86 | +76.9% | +$151.00 |
| $41.47 | +99.0% | +$151.00 |
When traders use collar on RGTX
Collars on RGTX hedge an existing long RGTX 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.
RGTX thesis for this collar
The market-implied 1-standard-deviation range for RGTX extends from approximately $9.26 on the downside to $32.42 on the upside. A RGTX collar hedges an existing long RGTX 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 RGTX IV rank near 32.01% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on RGTX should anchor more to the directional view and the expected-move geometry. As a Financial Services name, RGTX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to RGTX-specific events.
RGTX 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. RGTX positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move RGTX alongside the broader basket even when RGTX-specific fundamentals are unchanged. Always rebuild the position from current RGTX chain quotes before placing a trade.
Frequently asked questions
- What is a collar on RGTX?
- A collar on RGTX is the collar strategy applied to RGTX (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 RGTX etf trading near $20.84, the strikes shown on this page are snapped to the nearest listed RGTX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are RGTX 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 RGTX collar priced from the end-of-day chain at a 30-day expiry (ATM IV 193.80%), the computed maximum profit is $151.00 per contract and the computed maximum loss is -$49.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a RGTX collar?
- The breakeven for the RGTX collar priced on this page is roughly $20.49 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 RGTX market-implied 1-standard-deviation expected move is approximately 55.56%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on RGTX?
- Collars on RGTX hedge an existing long RGTX 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 RGTX implied volatility affect this collar?
- RGTX ATM IV is at 193.80% with IV rank near 32.01%, 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.