How are ALL 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 ALL collar priced from the end-of-day chain at a 30-day expiry (ATM IV 23.50%), the computed maximum profit is $966.00 per contract and the computed maximum loss is -$1,034.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ALL collar?

The breakeven for the ALL collar priced on this page is roughly $240.34 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 ALL market-implied 1-standard-deviation expected move is approximately 6.74%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current ALL implied volatility affect this collar?

ALL ATM IV is at 23.50% with IV rank near 41.04%, 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.

ALL Collar Strategy

ALL (The Allstate Corporation), in the Financial Services sector, (Insurance - Property & Casualty industry), listed on NYSE.

The Allstate Corporation, along with its affiliated entities, provides a comprehensive suite of property, casualty, and other insurance offerings throughout the United States and Canada. The company's operations are structured across four primary business segments: Allstate Protection; Protection Services; Allstate Health and Benefits; and Run-off Property-Liability. The Allstate Protection segment delivers a wide array of personal and commercial insurance solutions. This includes standard private passenger auto and homeowners policies, as well as specialized vehicle coverage for motorcycles, trailers, motor homes, and off-road vehicles. Additional personal lines encompass renter, condominium, landlord, boat, umbrella, manufactured home, and stand-alone scheduled personal property policies. Commercial lines products are also available, marketed under the Allstate and Encompass brand names.

ALL (The Allstate Corporation) trades in the Financial Services sector, specifically Insurance - Property & Casualty, with a market capitalization of approximately $61.68B, a trailing P/E of 5.12, a beta of 0.19 versus the broader market, a 52-week range of 188.08-240.16, average daily share volume of 1.6M, a public-listing history dating back to 1993, approximately 55K full-time employees. These structural characteristics shape how ALL stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.19 indicates ALL 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 5.12 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. ALL pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a collar on ALL?

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 ALL snapshot

As of June 29, 2026, spot at $240.99, ATM IV 23.50%, IV rank 41.04%, expected move 6.74%. The collar on ALL 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 ALL specifically: IV regime affects collar pricing on both sides; mid-range ALL IV at 23.50% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 6.74% (roughly $16.24 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 ALL expiries trade a higher absolute premium for lower per-day decay. Position sizing on ALL should anchor to the underlying notional of $240.99 per share and to the trader's directional view on ALL stock.

ALL collar setup

The ALL 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 ALL near $240.99, the first option leg uses a $250.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ALL 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 ALL shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$240.99	long
Sell 1	Call	$250.00	$2.00
Buy 1	Put	$230.00	$1.35

ALL collar risk and reward

Net Premium / Debit: -$24,034.00
Max Profit (per contract): $966.00
Max Loss (per contract): -$1,034.00
Breakeven(s): $240.34
Risk / Reward Ratio: 0.934

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.

ALL collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on ALL. 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%	-$1,034.00
$53.29	-77.9%	-$1,034.00
$106.58	-55.8%	-$1,034.00
$159.86	-33.7%	-$1,034.00
$213.14	-11.6%	-$1,034.00
$266.43	+10.6%	+$966.00
$319.71	+32.7%	+$966.00
$372.99	+54.8%	+$966.00
$426.27	+76.9%	+$966.00
$479.56	+99.0%	+$966.00

When traders use collar on ALL

Collars on ALL hedge an existing long ALL 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.

ALL thesis for this collar

The market-implied 1-standard-deviation range for ALL extends from approximately $224.75 on the downside to $257.23 on the upside. A ALL collar hedges an existing long ALL 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 ALL IV rank near 41.04% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on ALL should anchor more to the directional view and the expected-move geometry. As a Financial Services name, ALL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ALL-specific events.

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

Frequently asked questions

What is a collar on ALL?: A collar on ALL is the collar strategy applied to ALL (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 ALL stock trading near $240.99, the strikes shown on this page are snapped to the nearest listed ALL chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are ALL 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 ALL collar priced from the end-of-day chain at a 30-day expiry (ATM IV 23.50%), the computed maximum profit is $966.00 per contract and the computed maximum loss is -$1,034.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ALL collar?: The breakeven for the ALL collar priced on this page is roughly $240.34 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 ALL market-implied 1-standard-deviation expected move is approximately 6.74%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on ALL?: Collars on ALL hedge an existing long ALL 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 ALL implied volatility affect this collar?: ALL ATM IV is at 23.50% with IV rank near 41.04%, 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.