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 $2.89B, a trailing P/E of 74.17, a beta of 0.40 versus the broader market, a 52-week range of 61.5-145.25, average daily share volume of 383K, 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 0.40 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 74.17 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 June 29, 2026, spot at $102.88, ATM IV 53.90%, IV rank 7.53%, expected move 15.45%. 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 18-day expiry.
Why this collar structure on AGYS specifically: IV regime affects collar pricing on both sides; compressed AGYS IV at 53.90% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 15.45% (roughly $15.90 on the underlying). The 18-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 $102.88 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 $102.88, the first option leg uses a $110.00 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 18-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 | $102.88 | long |
| Sell 1 | Call | $110.00 | $2.40 |
| Buy 1 | Put | $100.00 | $3.18 |
AGYS collar risk and reward
- Net Premium / Debit
- -$10,365.50
- Max Profit (per contract)
- $634.50
- Max Loss (per contract)
- -$365.50
- Breakeven(s)
- $103.66
- Risk / Reward Ratio
- 1.736
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% | -$365.50 |
| $22.76 | -77.9% | -$365.50 |
| $45.50 | -55.8% | -$365.50 |
| $68.25 | -33.7% | -$365.50 |
| $90.99 | -11.6% | -$365.50 |
| $113.74 | +10.6% | +$634.50 |
| $136.49 | +32.7% | +$634.50 |
| $159.23 | +54.8% | +$634.50 |
| $181.98 | +76.9% | +$634.50 |
| $204.73 | +99.0% | +$634.50 |
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 $86.98 on the downside to $118.78 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 7.53% 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 53.90%. 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 $102.88, 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 53.90%), the computed maximum profit is $634.50 per contract and the computed maximum loss is -$365.50 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 $103.66 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 15.45%; 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 53.90% with IV rank near 7.53%, 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.