ANGO Collar Strategy
ANGO (AngioDynamics, Inc.), in the Healthcare sector, (Medical - Instruments & Supplies industry), listed on NASDAQ.
AngioDynamics, Inc. designs, manufactures, and sells various medical, surgical, and diagnostic devices used by professional healthcare providers for the treatment of peripheral vascular disease and vascular access; and for use in oncology and surgical settings in the United States and internationally. The company provides NanoKnife ablation systems for the surgical ablation of soft tissues; solero microwave tissue ablation systems; and radiofrequency ablation products for ablating solid cancerous or benign tumors. It also offers BioSentry tract sealant systems, IsoLoc Endorectal Balloon's, alatus vaginal balloon packing systems, angiographic catheters, guidewires, percutaneous drainage catheters, and coaxial micro-introducer kits. In addition, the company provides endovascular therapies products in the areas of thrombus management, atherectomy, peripheral products (Core), and venous insufficiency. Additionally, the company offers peripherally inserted central catheters, midline catheters, implantable ports, dialysis catheters, and related accessories and supplies that are used primarily to deliver short-term drug therapies, such as chemotherapeutic agents and antibiotics, into the central venous system under the BioFlo, BioFlo Midline, BioFlo PICC, Xcela PICC, PASV, BioFlo Port, SmartPort, Vortex, LifeGuard, BioFlo DuraMax, and DuraMax names. It sells and markets its products to interventional radiologists, interventional cardiologists, vascular surgeons, urologists, interventional and surgical oncologists, and critical care nurses directly, as well as through distributor relationships.
ANGO (AngioDynamics, Inc.) trades in the Healthcare sector, specifically Medical - Instruments & Supplies, with a market capitalization of approximately $447.9M, a beta of 0.37 versus the broader market, a 52-week range of 8.36-13.99, average daily share volume of 398K, a public-listing history dating back to 2004, approximately 748 full-time employees. These structural characteristics shape how ANGO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.37 indicates ANGO 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 ANGO?
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 ANGO snapshot
As of May 15, 2026, spot at $10.84, ATM IV 105.10%, IV rank 25.39%, expected move 30.13%. The collar on ANGO 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 ANGO specifically: IV regime affects collar pricing on both sides; compressed ANGO IV at 105.10% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 30.13% (roughly $3.27 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 ANGO expiries trade a higher absolute premium for lower per-day decay. Position sizing on ANGO should anchor to the underlying notional of $10.84 per share and to the trader's directional view on ANGO stock.
ANGO collar setup
The ANGO 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 ANGO near $10.84, the first option leg uses a $11.38 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ANGO 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 ANGO shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $10.84 | long |
| Sell 1 | Call | $11.38 | N/A |
| Buy 1 | Put | $10.30 | N/A |
ANGO 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.
ANGO collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on ANGO. 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 ANGO
Collars on ANGO hedge an existing long ANGO 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.
ANGO thesis for this collar
The market-implied 1-standard-deviation range for ANGO extends from approximately $7.57 on the downside to $14.11 on the upside. A ANGO collar hedges an existing long ANGO 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 ANGO IV rank near 25.39% 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 ANGO at 105.10%. As a Healthcare name, ANGO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ANGO-specific events.
ANGO 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. ANGO positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ANGO alongside the broader basket even when ANGO-specific fundamentals are unchanged. Always rebuild the position from current ANGO chain quotes before placing a trade.
Frequently asked questions
- What is a collar on ANGO?
- A collar on ANGO is the collar strategy applied to ANGO (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 ANGO stock trading near $10.84, the strikes shown on this page are snapped to the nearest listed ANGO chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ANGO 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 ANGO collar priced from the end-of-day chain at a 30-day expiry (ATM IV 105.10%), 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 ANGO collar?
- The breakeven for the ANGO 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 ANGO market-implied 1-standard-deviation expected move is approximately 30.13%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on ANGO?
- Collars on ANGO hedge an existing long ANGO 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 ANGO implied volatility affect this collar?
- ANGO ATM IV is at 105.10% with IV rank near 25.39%, 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.