AKTS Collar Strategy
AKTS (Aktis Oncology, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Aktis Oncology, Inc. is a clinical-stage biotechnology firm dedicated to advancing targeted radiopharmaceutical therapies for cancer treatment. Their core innovation lies in a proprietary miniprotein radioconjugate platform, which enables the discovery and development of potent radiopharmaceutical therapies designed to precisely deliver tumor-killing radioisotopes. Among their pipeline candidates is Nectin-4, a miniprotein radioconjugate specifically engineered to treat locally advanced or metastatic urothelial cancer. Key programs also include AKY-1189, a radioconjugate engineered to target Nectin-4 expressing tumors across various indications such as metastatic urothelial cancer, breast cancer, non-small cell lung cancer (NSCLC), colorectal cancer, and cervical cancer. Another significant therapy, AKY-2519, is under development to deliver radioisotopes to B7-H3 (CD276) expressing tumors, addressing prostate cancer, lung cancer, and other solid tumor types. Originally incorporated as HotKnot Therapeutics, Inc., the company officially rebranded to Aktis Oncology, Inc. in April 2020.
AKTS (Aktis Oncology, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $1.28B, a beta of 0.45 versus the broader market, a 52-week range of 14.72-34.19, average daily share volume of 334K, a public-listing history dating back to 2026, approximately 79 full-time employees. These structural characteristics shape how AKTS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.45 indicates AKTS has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a collar on AKTS?
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.
AKTS snapshot
As of August 14, 2026, spot at $24.77, ATM IV 110.30%, IV rank 63.01%, expected move 31.62%. The collar on AKTS 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 AKTS specifically: IV regime affects collar pricing on both sides; mid-range AKTS IV at 110.30% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 31.62% (roughly $7.83 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 AKTS expiries trade a higher absolute premium for lower per-day decay. Position sizing on AKTS should anchor to the underlying notional of $24.77 per share and to the trader's directional view on AKTS stock.
AKTS collar setup
The AKTS 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 AKTS at $24.77 on that close, the first option leg uses a $26.01 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AKTS 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 AKTS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $24.77 | long |
| Sell 1 | Call | $26.01 | N/A |
| Buy 1 | Put | $23.53 | N/A |
AKTS 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.
AKTS collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on AKTS. 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 AKTS
Collars on AKTS hedge an existing long AKTS 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.
AKTS thesis for this collar
The market-implied 1-standard-deviation range for AKTS extends from approximately $16.94 on the downside to $32.60 on the upside. A AKTS collar hedges an existing long AKTS 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 AKTS IV rank near 63.01% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on AKTS should anchor more to the directional view and the expected-move geometry. As a Healthcare name, AKTS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AKTS-specific events.
AKTS 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. AKTS positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AKTS alongside the broader basket even when AKTS-specific fundamentals are unchanged. Always rebuild the position from current AKTS chain quotes before placing a trade.
Frequently asked questions
- What is a collar on AKTS?
- A collar on AKTS is the collar strategy applied to AKTS (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 AKTS stock at $24.77 on the most recent close, the strikes shown on this page are snapped to the nearest listed AKTS chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are AKTS 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 AKTS collar priced from the end-of-day chain at a 30-day expiry (ATM IV 110.30%), 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 AKTS collar?
- The breakeven for the AKTS 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 AKTS market-implied 1-standard-deviation expected move in the same options snapshot is approximately 31.62%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on AKTS?
- Collars on AKTS hedge an existing long AKTS 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 AKTS implied volatility affect this collar?
- AKTS ATM IV is at 110.30% with IV rank near 63.01%, 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.