AMPY Collar Strategy
AMPY (Amplify Energy Corp.), in the Energy sector, (Oil & Gas Exploration & Production industry), listed on NYSE.
Amplify Energy Corp. engages in the acquisition, development, exploitation, and production of oil and natural gas properties in the United States. The company's properties consist of operated and non-operated working interests in producing and undeveloped leasehold acreage, as well as working interests in identified producing wells located in Oklahoma, the Rockies, federal waters offshore Southern California, East Texas/North Louisiana, and Eagle Ford. As of December 31, 2021, it had total estimated proved reserves of approximately 121.2 million barrels of oil equivalent; and 2,417 gross producing wells. The company is headquartered in Houston, Texas.
AMPY (Amplify Energy Corp.) trades in the Energy sector, specifically Oil & Gas Exploration & Production, with a market capitalization of approximately $210.6M, a trailing P/E of 17.91, a beta of -0.13 versus the broader market, a 52-week range of 2.6-6.79, average daily share volume of 999K, a public-listing history dating back to 2012, approximately 229 full-time employees. These structural characteristics shape how AMPY stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.13 indicates AMPY 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 AMPY?
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 AMPY snapshot
As of May 15, 2026, spot at $5.22, ATM IV 66.80%, IV rank 8.92%, expected move 19.15%. The collar on AMPY 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 34-day expiry.
Why this collar structure on AMPY specifically: IV regime affects collar pricing on both sides; compressed AMPY IV at 66.80% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 19.15% (roughly $1.00 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AMPY expiries trade a higher absolute premium for lower per-day decay. Position sizing on AMPY should anchor to the underlying notional of $5.22 per share and to the trader's directional view on AMPY stock.
AMPY collar setup
The AMPY 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 AMPY near $5.22, the first option leg uses a $5.48 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AMPY chain at a 34-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 AMPY shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $5.22 | long |
| Sell 1 | Call | $5.48 | N/A |
| Buy 1 | Put | $4.96 | N/A |
AMPY 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.
AMPY collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on AMPY. 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 AMPY
Collars on AMPY hedge an existing long AMPY 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.
AMPY thesis for this collar
The market-implied 1-standard-deviation range for AMPY extends from approximately $4.22 on the downside to $6.22 on the upside. A AMPY collar hedges an existing long AMPY 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 AMPY IV rank near 8.92% 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 AMPY at 66.80%. As a Energy name, AMPY options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AMPY-specific events.
AMPY 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. AMPY positions also carry Energy sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AMPY alongside the broader basket even when AMPY-specific fundamentals are unchanged. Always rebuild the position from current AMPY chain quotes before placing a trade.
Frequently asked questions
- What is a collar on AMPY?
- A collar on AMPY is the collar strategy applied to AMPY (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 AMPY stock trading near $5.22, the strikes shown on this page are snapped to the nearest listed AMPY chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AMPY 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 AMPY collar priced from the end-of-day chain at a 30-day expiry (ATM IV 66.80%), 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 AMPY collar?
- The breakeven for the AMPY collar priced on this page is no defined breakeven on the modeled curve 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 AMPY market-implied 1-standard-deviation expected move is approximately 19.15%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on AMPY?
- Collars on AMPY hedge an existing long AMPY 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 AMPY implied volatility affect this collar?
- AMPY ATM IV is at 66.80% with IV rank near 8.92%, 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.