How are ADSK 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 ADSK collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 51.70%), the computed maximum profit is $1,349.00 per contract and the computed maximum loss is -$1,151.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ADSK collar?

The breakeven for the ADSK collar priced on this page is roughly $251.51 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 ADSK market-implied 1-standard-deviation expected move in the same options snapshot is approximately 14.82%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current ADSK implied volatility affect this collar?

ADSK ATM IV is at 51.70% with IV rank near 78.29%, 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.

ADSK Collar Strategy

ADSK (Autodesk, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.

Autodesk, Inc. delivers advanced software and services for 3D design, engineering, and entertainment to a global clientele. Their diverse product line includes AutoCAD Civil 3D, a comprehensive solution for civil engineering tasks such as land development, transportation infrastructure, and environmental projects. For construction project management, they offer BIM 360, a cloud-based platform. Core design and drafting needs are met by AutoCAD and its specialized counterpart, AutoCAD LT. The company also provides CAM software, essential for computer numeric control (CNC) machining, inspection, and manufacturing modeling, alongside Fusion 360, an integrated platform for 3D CAD, CAM, and computer-aided engineering. Autodesk further provides curated Industry Collections, offering comprehensive toolsets for professionals in architecture, engineering, and construction (AEC), product design and manufacturing (PDM), and media and entertainment sectors.

ADSK (Autodesk, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $52.68B, a trailing P/E of 35.99, a beta of 1.30 versus the broader market, a 52-week range of 185.5-329.09, average daily share volume of 2.4M, a public-listing history dating back to 1985, approximately 14K full-time employees. These structural characteristics shape how ADSK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.30 places ADSK roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 35.99 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple. ADSK pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a collar on ADSK?

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.

ADSK snapshot

As of August 14, 2026, spot at $252.06, ATM IV 51.70%, IV rank 78.29%, expected move 14.82%. The collar on ADSK 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 28-day expiry.

Why this collar structure on ADSK specifically: IV regime affects collar pricing on both sides; elevated ADSK IV at 51.70% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 14.82% (roughly $37.36 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ADSK expiries trade a higher absolute premium for lower per-day decay. Position sizing on ADSK should anchor to the underlying notional of $252.06 per share and to the trader's directional view on ADSK stock.

ADSK collar setup

The ADSK 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 ADSK at $252.06 on that close, the first option leg uses a $265.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ADSK chain at a 28-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 ADSK shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$252.06	long
Sell 1	Call	$265.00	$9.60
Buy 1	Put	$240.00	$9.05

ADSK collar risk and reward

Net Premium / Debit: -$25,151.00
Max Profit (per contract): $1,349.00
Max Loss (per contract): -$1,151.00
Breakeven(s): $251.51
Risk / Reward Ratio: 1.172

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.

ADSK collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on ADSK. 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%	-$1,151.00
$55.74	-77.9%	-$1,151.00
$111.47	-55.8%	-$1,151.00
$167.20	-33.7%	-$1,151.00
$222.93	-11.6%	-$1,151.00
$278.66	+10.6%	+$1,349.00
$334.39	+32.7%	+$1,349.00
$390.13	+54.8%	+$1,349.00
$445.86	+76.9%	+$1,349.00
$501.59	+99.0%	+$1,349.00

When traders use collar on ADSK

Collars on ADSK hedge an existing long ADSK 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.

ADSK thesis for this collar

The market-implied 1-standard-deviation range for ADSK extends from approximately $214.70 on the downside to $289.42 on the upside. A ADSK collar hedges an existing long ADSK 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 ADSK IV rank near 78.29% 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 ADSK at 51.70%. As a Technology name, ADSK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ADSK-specific events.

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

Frequently asked questions

What is a collar on ADSK?: A collar on ADSK is the collar strategy applied to ADSK (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 ADSK stock at $252.06 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed ADSK chain strike and the premiums come straight from that session's bid/ask midpoint.
How are ADSK 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 ADSK collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 51.70%), the computed maximum profit is $1,349.00 per contract and the computed maximum loss is -$1,151.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ADSK collar?: The breakeven for the ADSK collar priced on this page is roughly $251.51 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 ADSK market-implied 1-standard-deviation expected move in the same options snapshot is approximately 14.82%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on ADSK?: Collars on ADSK hedge an existing long ADSK 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 ADSK implied volatility affect this collar?: ADSK ATM IV is at 51.70% with IV rank near 78.29%, 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.