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 August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 155.80%), the computed maximum profit is $92.00 per contract and the computed maximum loss is -$108.00 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 $15.08 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 RGTX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 44.67%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current RGTX implied volatility affect this collar?

RGTX ATM IV is at 155.80% with IV rank near 13.23%, 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.

RGTX Collar Strategy

RGTX (Daily Target 2X Long RGTI ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.

The Defiance Daily Target 2X Long RGTI ETF is engineered to yield investment results that are double (200%) the daily percentage change in the stock price of Rigetti Computing, Inc. (NASDAQ: RGTI). Due to its daily leveraged design, this Fund significantly differs from most other exchange-traded funds, and there is no assurance it will consistently achieve its stated goal. It is important to note that the Fund is not intended to provide a cumulative return of two times RGTI's performance for any duration exceeding a single trading day.

RGTX (Daily Target 2X Long RGTI ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $10.1M, a beta of 9.69 versus the broader market, a 52-week range of 7.69-501.8, average daily share volume of 1.5M, 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 9.69 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.

RGTX snapshot

As of August 14, 2026, spot at $15.08, ATM IV 155.80%, IV rank 13.23%, expected move 44.67%. The collar on RGTX 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 RGTX specifically: IV regime affects collar pricing on both sides; compressed RGTX IV at 155.80% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 44.67% (roughly $6.74 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 RGTX expiries trade a higher absolute premium for lower per-day decay. Position sizing on RGTX should anchor to the underlying notional of $15.08 per share and to the trader's directional view on RGTX etf.

RGTX collar setup

The RGTX 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 RGTX at $15.08 on that close, the first option leg uses a $16.00 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 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 RGTX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$15.08	long
Sell 1	Call	$16.00	$2.38
Buy 1	Put	$14.00	$2.38

RGTX collar risk and reward

Net Premium / Debit: -$1,508.00
Max Profit (per contract): $92.00
Max Loss (per contract): -$108.00
Breakeven(s): $15.08
Risk / Reward Ratio: 0.852

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.

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%	-$108.00
$3.34	-77.8%	-$108.00
$6.68	-55.7%	-$108.00
$10.01	-33.6%	-$108.00
$13.34	-11.5%	-$108.00
$16.68	+10.6%	+$92.00
$20.01	+32.7%	+$92.00
$23.34	+54.8%	+$92.00
$26.68	+76.9%	+$92.00
$30.01	+99.0%	+$92.00

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 $8.34 on the downside to $21.82 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 13.23% 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 RGTX at 155.80%. 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 at $15.08 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed RGTX chain strike and the premiums come straight from that session's 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 August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 155.80%), the computed maximum profit is $92.00 per contract and the computed maximum loss is -$108.00 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 $15.08 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 RGTX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 44.67%; 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 155.80% with IV rank near 13.23%, 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.