YALL Collar Strategy
YALL (God Bless America ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.
Under normal market conditions, the fund will invest at least 80% of its net assets, plus any borrowings for investment purposes, in equity securities listed on U.S. exchanges. The fund's portfolio will, under normal market conditions, include securities from each of the following eleven market sectors: Energy, Materials, Industrials, Consumer Discretionary, Consumer Staples, Health Care, Financials, Information Technology, Real Estate, Communication Services, and Utilities.
YALL (God Bless America ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $98.5M, a beta of 1.01 versus the broader market, a 52-week range of 39.531-45.59, average daily share volume of 7K, a public-listing history dating back to 2022. These structural characteristics shape how YALL etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.01 places YALL roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. YALL pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on YALL?
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 YALL snapshot
As of May 15, 2026, spot at $43.66, ATM IV 23.50%, IV rank 24.57%, expected move 6.74%. The collar on YALL 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 YALL specifically: IV regime affects collar pricing on both sides; compressed YALL IV at 23.50% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 6.74% (roughly $2.94 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 YALL expiries trade a higher absolute premium for lower per-day decay. Position sizing on YALL should anchor to the underlying notional of $43.66 per share and to the trader's directional view on YALL etf.
YALL collar setup
The YALL 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 YALL near $43.66, the first option leg uses a $46.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed YALL 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 YALL shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $43.66 | long |
| Sell 1 | Call | $46.00 | $0.48 |
| Buy 1 | Put | $41.00 | $0.30 |
YALL collar risk and reward
- Net Premium / Debit
- -$4,348.00
- Max Profit (per contract)
- $252.00
- Max Loss (per contract)
- -$248.00
- Breakeven(s)
- $43.48
- Risk / Reward Ratio
- 1.016
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.
YALL collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on YALL. 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% | -$248.00 |
| $9.66 | -77.9% | -$248.00 |
| $19.31 | -55.8% | -$248.00 |
| $28.97 | -33.7% | -$248.00 |
| $38.62 | -11.5% | -$248.00 |
| $48.27 | +10.6% | +$252.00 |
| $57.92 | +32.7% | +$252.00 |
| $67.58 | +54.8% | +$252.00 |
| $77.23 | +76.9% | +$252.00 |
| $86.88 | +99.0% | +$252.00 |
When traders use collar on YALL
Collars on YALL hedge an existing long YALL 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.
YALL thesis for this collar
The market-implied 1-standard-deviation range for YALL extends from approximately $40.72 on the downside to $46.60 on the upside. A YALL collar hedges an existing long YALL 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 YALL IV rank near 24.57% 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 YALL at 23.50%. As a Financial Services name, YALL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to YALL-specific events.
YALL 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. YALL positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move YALL alongside the broader basket even when YALL-specific fundamentals are unchanged. Always rebuild the position from current YALL chain quotes before placing a trade.
Frequently asked questions
- What is a collar on YALL?
- A collar on YALL is the collar strategy applied to YALL (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 YALL etf trading near $43.66, the strikes shown on this page are snapped to the nearest listed YALL chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are YALL 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 YALL collar priced from the end-of-day chain at a 30-day expiry (ATM IV 23.50%), the computed maximum profit is $252.00 per contract and the computed maximum loss is -$248.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a YALL collar?
- The breakeven for the YALL collar priced on this page is roughly $43.48 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 YALL market-implied 1-standard-deviation expected move is approximately 6.74%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on YALL?
- Collars on YALL hedge an existing long YALL 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 YALL implied volatility affect this collar?
- YALL ATM IV is at 23.50% with IV rank near 24.57%, 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.