AGYS Collar Strategy
AGYS (Agilysys, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
Agilysys, Inc., together with its subsidiaries, operates as a developer and marketer of hardware and software products and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. It offers point of sale, property management systems, inventory and procurement, payments, reservations management, and seat solutions to enhance guest experience. The company also provides technical software support, maintenance, and subscription services; and professional services. It offers its solutions for gaming, hotels, resorts and cruise, corporate foodservice management, restaurants, universities, stadium, and healthcare. The company was formerly known as Pioneer-Standard Electronics, Inc. and changed its name to Agilysys, Inc. in 2003. Agilysys, Inc. was founded in 1932 and is headquartered in Alpharetta, Georgia.
AGYS (Agilysys, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $1.84B, a trailing P/E of 60.28, a beta of 0.30 versus the broader market, a 52-week range of 61.5-145.25, average daily share volume of 305K, a public-listing history dating back to 1980, approximately 2K full-time employees. These structural characteristics shape how AGYS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.30 indicates AGYS has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. The trailing P/E of 60.28 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.
What is a collar on AGYS?
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 AGYS snapshot
As of May 15, 2026, spot at $67.59, ATM IV 75.70%, IV rank 13.29%, expected move 21.70%. The collar on AGYS 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 63-day expiry.
Why this collar structure on AGYS specifically: IV regime affects collar pricing on both sides; compressed AGYS IV at 75.70% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 21.70% (roughly $14.67 on the underlying). The 63-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AGYS expiries trade a higher absolute premium for lower per-day decay. Position sizing on AGYS should anchor to the underlying notional of $67.59 per share and to the trader's directional view on AGYS stock.
AGYS collar setup
The AGYS 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 AGYS near $67.59, the first option leg uses a $70.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AGYS chain at a 63-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 AGYS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $67.59 | long |
| Sell 1 | Call | $70.00 | $6.75 |
| Buy 1 | Put | $65.00 | $6.00 |
AGYS collar risk and reward
- Net Premium / Debit
- -$6,684.00
- Max Profit (per contract)
- $316.00
- Max Loss (per contract)
- -$184.00
- Breakeven(s)
- $66.84
- Risk / Reward Ratio
- 1.717
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.
AGYS collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on AGYS. 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% | -$184.00 |
| $14.95 | -77.9% | -$184.00 |
| $29.90 | -55.8% | -$184.00 |
| $44.84 | -33.7% | -$184.00 |
| $59.78 | -11.5% | -$184.00 |
| $74.73 | +10.6% | +$316.00 |
| $89.67 | +32.7% | +$316.00 |
| $104.61 | +54.8% | +$316.00 |
| $119.56 | +76.9% | +$316.00 |
| $134.50 | +99.0% | +$316.00 |
When traders use collar on AGYS
Collars on AGYS hedge an existing long AGYS 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.
AGYS thesis for this collar
The market-implied 1-standard-deviation range for AGYS extends from approximately $52.92 on the downside to $82.26 on the upside. A AGYS collar hedges an existing long AGYS 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 AGYS IV rank near 13.29% 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 AGYS at 75.70%. As a Technology name, AGYS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AGYS-specific events.
AGYS 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. AGYS positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AGYS alongside the broader basket even when AGYS-specific fundamentals are unchanged. Always rebuild the position from current AGYS chain quotes before placing a trade.
Frequently asked questions
- What is a collar on AGYS?
- A collar on AGYS is the collar strategy applied to AGYS (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 AGYS stock trading near $67.59, the strikes shown on this page are snapped to the nearest listed AGYS chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AGYS 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 AGYS collar priced from the end-of-day chain at a 30-day expiry (ATM IV 75.70%), the computed maximum profit is $316.00 per contract and the computed maximum loss is -$184.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a AGYS collar?
- The breakeven for the AGYS collar priced on this page is roughly $66.84 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 AGYS market-implied 1-standard-deviation expected move is approximately 21.70%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on AGYS?
- Collars on AGYS hedge an existing long AGYS 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 AGYS implied volatility affect this collar?
- AGYS ATM IV is at 75.70% with IV rank near 13.29%, 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.