How are XSOE 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 XSOE collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 26.10%), the computed maximum profit is $249.00 per contract and the computed maximum loss is -$251.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a XSOE collar?

The breakeven for the XSOE collar priced on this page is roughly $47.51 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 XSOE market-implied 1-standard-deviation expected move in the same options snapshot is approximately 7.48%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current XSOE implied volatility affect this collar?

XSOE ATM IV is at 26.10% with IV rank near 12.07%, 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.

XSOE Collar Strategy

XSOE (WisdomTree Emerging Markets ex-State-Owned Enterprises Fund), in the Financial Services sector, (Asset Management - Global industry), listed on AMEX.

Typically, the fund commits a minimum of 80% of its total assets to the specific securities included in its underlying index, or to other investments that share substantially similar economic characteristics with those index components. This benchmark is a modified float-adjusted market capitalization-weighted index, which is composed of ordinary shares from developing nations, but explicitly omits common stocks issued by government-controlled entities. It's important to note that this fund operates as a non-diversified investment vehicle.

XSOE (WisdomTree Emerging Markets ex-State-Owned Enterprises Fund) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $2.24B, a beta of 1.18 versus the broader market, a 52-week range of 35.18-51.38, average daily share volume of 148K, a public-listing history dating back to 2014, approximately 357 full-time employees. These structural characteristics shape how XSOE etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.18 places XSOE roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. XSOE pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a collar on XSOE?

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.

XSOE snapshot

As of August 14, 2026, spot at $47.56, ATM IV 26.10%, IV rank 12.07%, expected move 7.48%. The collar on XSOE 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 7-day expiry.

Why this collar structure on XSOE specifically: IV regime affects collar pricing on both sides; compressed XSOE IV at 26.10% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 7.48% (roughly $3.56 on the underlying). The 7-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated XSOE expiries trade a higher absolute premium for lower per-day decay. Position sizing on XSOE should anchor to the underlying notional of $47.56 per share and to the trader's directional view on XSOE etf.

XSOE collar setup

The XSOE 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 XSOE at $47.56 on that close, the first option leg uses a $50.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed XSOE chain at a 7-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 XSOE shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$47.56	long
Sell 1	Call	$50.00	$0.33
Buy 1	Put	$45.00	$0.28

XSOE collar risk and reward

Net Premium / Debit: -$4,751.00
Max Profit (per contract): $249.00
Max Loss (per contract): -$251.00
Breakeven(s): $47.51
Risk / Reward Ratio: 0.992

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.

XSOE collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on XSOE. 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	-100.0%	-$251.00
$10.52	-77.9%	-$251.00
$21.04	-55.8%	-$251.00
$31.55	-33.7%	-$251.00
$42.07	-11.5%	-$251.00
$52.58	+10.6%	+$249.00
$63.10	+32.7%	+$249.00
$73.61	+54.8%	+$249.00
$84.13	+76.9%	+$249.00
$94.64	+99.0%	+$249.00

When traders use collar on XSOE

Collars on XSOE hedge an existing long XSOE 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.

XSOE thesis for this collar

The market-implied 1-standard-deviation range for XSOE extends from approximately $44.00 on the downside to $51.12 on the upside. A XSOE collar hedges an existing long XSOE 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 XSOE IV rank near 12.07% 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 XSOE at 26.10%. As a Financial Services name, XSOE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to XSOE-specific events.

XSOE 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. XSOE positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move XSOE alongside the broader basket even when XSOE-specific fundamentals are unchanged. Always rebuild the position from current XSOE chain quotes before placing a trade.

Frequently asked questions

What is a collar on XSOE?: A collar on XSOE is the collar strategy applied to XSOE (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 XSOE etf at $47.56 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed XSOE chain strike and the premiums come straight from that session's bid/ask midpoint.
How are XSOE 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 XSOE collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 26.10%), the computed maximum profit is $249.00 per contract and the computed maximum loss is -$251.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a XSOE collar?: The breakeven for the XSOE collar priced on this page is roughly $47.51 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 XSOE market-implied 1-standard-deviation expected move in the same options snapshot is approximately 7.48%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on XSOE?: Collars on XSOE hedge an existing long XSOE 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 XSOE implied volatility affect this collar?: XSOE ATM IV is at 26.10% with IV rank near 12.07%, 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.