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 November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 46.90%), the computed maximum profit is $606.00 per contract and the computed maximum loss is -$394.00 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 $118.94 at expiration, derived from the November 13, 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 AGYS market-implied 1-standard-deviation expected move in the same options snapshot is approximately 13.45%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current AGYS implied volatility affect this collar?

AGYS ATM IV is at 46.90% with IV rank near 32.65%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.

AGYS Collar Strategy

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

Agilysys, Inc. operates as a developer and marketer of software-enabled solutions and services to the hospitality industry in North America, Europe, the Asia-Pacific, and India. The company offers software solutions fully integrated with third party hardware and operating systems; cloud applications, support, and maintenance; subscription and maintenance; and professional services. Its hospitality software solutions comprise hospitality experience cloud offers solution ecosystems that combine core operational systems for property management, point-of-sale (POS), and inventory and procurement; and Hospitality Solution Studios. The company also provides food and beverage ecosystem solutions, such as the InfoGenesis POS, as well as IG Kiosk, a self-service, customer-facing kiosk point of sale solution. Its food and beverage experience enhancer solutions include IG KDS digital kitchen management solution; IG OnDemand; IG Fly; IG Quick Pay payment solution; IG Smart Menu; IG Digital Menu Board; IG PanOptic; Pay; eCash; gift card solution; and Analyze. In addition, the company offers hospitality and leisure ecosystem solutions comprising LMS, an on-premises or hosted, web, and mobile-enabled PMS solution; Versa; and Stay, a cloud-native SaaS property management system.

AGYS (Agilysys, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $3.44B, a trailing P/E of 77.36, a beta of 0.39 versus the broader market, a 52-week range of 61.5-129.52, average daily share volume of 275K, 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 0.39 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 77.36 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.

AGYS snapshot

As of November 13, 2026, spot at $121.39, ATM IV 46.90%, IV rank 32.65%, expected move 13.45%. The collar on AGYS below is built from the November 13, 2026 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 AGYS specifically: IV regime affects collar pricing on both sides; mid-range AGYS IV at 46.90% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 13.45% (roughly $16.32 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 AGYS expiries trade a higher absolute premium for lower per-day decay. Position sizing on AGYS should anchor to the underlying notional of $121.39 per share and to the trader's directional view on AGYS stock.

AGYS collar setup

The AGYS collar below is built from the November 13, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AGYS at $121.39 on that close, the first option leg uses a $125.00 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 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 AGYS shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$121.39	long
Sell 1	Call	$125.00	$6.15
Buy 1	Put	$115.00	$3.70

AGYS collar risk and reward

Net Premium / Debit: -$11,894.00
Max Profit (per contract): $606.00
Max Loss (per contract): -$394.00
Breakeven(s): $118.94
Risk / Reward Ratio: 1.538

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.

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%	-$394.00
$26.85	-77.9%	-$394.00
$53.69	-55.8%	-$394.00
$80.53	-33.7%	-$394.00
$107.37	-11.6%	-$394.00
$134.20	+10.6%	+$606.00
$161.04	+32.7%	+$606.00
$187.88	+54.8%	+$606.00
$214.72	+76.9%	+$606.00
$241.56	+99.0%	+$606.00

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 $105.07 on the downside to $137.71 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 32.65% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on AGYS should anchor more to the directional view and the expected-move geometry. 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 at $121.39 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed AGYS chain strike and the premiums come straight from that session's 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 November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 46.90%), the computed maximum profit is $606.00 per contract and the computed maximum loss is -$394.00 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 $118.94 at expiration, derived from the November 13, 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 AGYS market-implied 1-standard-deviation expected move in the same options snapshot is approximately 13.45%; 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 46.90% with IV rank near 32.65%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.