ACH Collar Strategy
ACH (Accendra Health, Inc.), in the Healthcare sector, (Medical - Distribution industry), listed on NYSE.
Accendra Health, Inc., along with its subsidiaries, operates globally as a comprehensive provider of healthcare solutions. The organization is structured into two primary operational divisions: Products & Healthcare Services and Patient Direct. The Products & Healthcare Services segment offers a wide array of goods and support services to both healthcare providers and manufacturers. Its extensive catalog includes medical and surgical supplies, featuring both established brands and its own proprietary merchandise. This segment also delivers crucial services to healthcare providers, such as supplier relationship management, advanced analytics, inventory optimization, and clinical supply oversight. Furthermore, it provides outsourced logistics and marketing assistance programs to its vendor partners.
ACH (Accendra Health, Inc.) trades in the Healthcare sector, specifically Medical - Distribution, with a market capitalization of approximately $92.7M, a beta of 1.58 versus the broader market, a 52-week range of 1.19-5.85, average daily share volume of 761K, a public-listing history dating back to 1980, approximately 7K full-time employees. These structural characteristics shape how ACH stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.58 indicates ACH has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. ACH pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on ACH?
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.
ACH snapshot
As of August 14, 2026, spot at $1.00, ATM IV 492.00%, IV rank 100.00%, expected move 141.05%. The collar on ACH below is built from the 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 ACH specifically: IV regime affects collar pricing on both sides; elevated ACH IV at 492.00% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 141.05% (roughly $1.41 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 ACH expiries trade a higher absolute premium for lower per-day decay. Position sizing on ACH should anchor to the underlying notional of $1.00 per share and to the trader's directional view on ACH stock.
ACH collar setup
The ACH 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 ACH at $1.00 on that close, the first option leg uses a $1.05 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ACH 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 ACH shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $1.00 | long |
| Sell 1 | Call | $1.05 | N/A |
| Buy 1 | Put | $0.95 | N/A |
ACH collar risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
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.
ACH collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on ACH. 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.
When traders use collar on ACH
Collars on ACH hedge an existing long ACH stock 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.
ACH thesis for this collar
The market-implied 1-standard-deviation range for ACH extends from approximately $-0.41 on the downside to $2.41 on the upside. A ACH collar hedges an existing long ACH 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 ACH IV rank near 100.00% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on ACH at 492.00%. As a Healthcare name, ACH options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ACH-specific events.
ACH 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. ACH positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ACH alongside the broader basket even when ACH-specific fundamentals are unchanged. Always rebuild the position from current ACH chain quotes before placing a trade.
Frequently asked questions
- What is a collar on ACH?
- A collar on ACH is the collar strategy applied to ACH (stock). 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 ACH stock at $1.00 on the most recent close, the strikes shown on this page are snapped to the nearest listed ACH chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ACH 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 ACH collar priced from the end-of-day chain at a 30-day expiry (ATM IV 492.00%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ACH collar?
- The breakeven for the ACH collar priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 ACH market-implied 1-standard-deviation expected move in the same options snapshot is approximately 141.05%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on ACH?
- Collars on ACH hedge an existing long ACH stock 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 ACH implied volatility affect this collar?
- ACH ATM IV is at 492.00% with IV rank near 100.00%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.