SIVR Collar Strategy
SIVR (abrdn Physical Silver Shares ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.
abrdn Physical Silver Shares ETF (SIVR) seeks to track the performance of the price of the silver bullion, less the Trust's expenses.
SIVR (abrdn Physical Silver Shares ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $5.30B, a beta of 0.98 versus the broader market, a 52-week range of 30.34-115.26, average daily share volume of 2.6M, a public-listing history dating back to 2009. These structural characteristics shape how SIVR etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.98 places SIVR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a collar on SIVR?
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 SIVR snapshot
As of May 15, 2026, spot at $72.72, ATM IV 54.70%, IV rank 37.52%, expected move 15.68%. The collar on SIVR 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 SIVR specifically: IV regime affects collar pricing on both sides; mid-range SIVR IV at 54.70% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 15.68% (roughly $11.40 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 SIVR expiries trade a higher absolute premium for lower per-day decay. Position sizing on SIVR should anchor to the underlying notional of $72.72 per share and to the trader's directional view on SIVR etf.
SIVR collar setup
The SIVR 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 SIVR near $72.72, the first option leg uses a $76.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SIVR 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 SIVR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $72.72 | long |
| Sell 1 | Call | $76.00 | $3.80 |
| Buy 1 | Put | $69.00 | $3.05 |
SIVR collar risk and reward
- Net Premium / Debit
- -$7,197.00
- Max Profit (per contract)
- $403.00
- Max Loss (per contract)
- -$297.00
- Breakeven(s)
- $71.97
- Risk / Reward Ratio
- 1.357
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.
SIVR collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on SIVR. 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% | -$297.00 |
| $16.09 | -77.9% | -$297.00 |
| $32.17 | -55.8% | -$297.00 |
| $48.24 | -33.7% | -$297.00 |
| $64.32 | -11.6% | -$297.00 |
| $80.40 | +10.6% | +$403.00 |
| $96.48 | +32.7% | +$403.00 |
| $112.55 | +54.8% | +$403.00 |
| $128.63 | +76.9% | +$403.00 |
| $144.71 | +99.0% | +$403.00 |
When traders use collar on SIVR
Collars on SIVR hedge an existing long SIVR 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.
SIVR thesis for this collar
The market-implied 1-standard-deviation range for SIVR extends from approximately $61.32 on the downside to $84.12 on the upside. A SIVR collar hedges an existing long SIVR 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 SIVR IV rank near 37.52% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on SIVR should anchor more to the directional view and the expected-move geometry. As a Financial Services name, SIVR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SIVR-specific events.
SIVR 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. SIVR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SIVR alongside the broader basket even when SIVR-specific fundamentals are unchanged. Always rebuild the position from current SIVR chain quotes before placing a trade.
Frequently asked questions
- What is a collar on SIVR?
- A collar on SIVR is the collar strategy applied to SIVR (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 SIVR etf trading near $72.72, the strikes shown on this page are snapped to the nearest listed SIVR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SIVR 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 SIVR collar priced from the end-of-day chain at a 30-day expiry (ATM IV 54.70%), the computed maximum profit is $403.00 per contract and the computed maximum loss is -$297.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a SIVR collar?
- The breakeven for the SIVR collar priced on this page is roughly $71.97 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 SIVR market-implied 1-standard-deviation expected move is approximately 15.68%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on SIVR?
- Collars on SIVR hedge an existing long SIVR 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 SIVR implied volatility affect this collar?
- SIVR ATM IV is at 54.70% with IV rank near 37.52%, 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.