AXTQ Collar Strategy
AXTQ (Investment Managers Series Trust II - Tradr 2X Short AXTI Daily ETF), in the Financial Services sector, (Asset Management industry), listed on CBOE.
AXTQ is a short-term tactical tool that aims to deliver -2x the price return, less fees and expenses, for a single day of AXT, Inc. (Nasdaq: AXTI) stock. AXTI engages in the design, development, manufacture and distribution of compound and single element semiconductor substrates. Purchasers holding shares for longer than a day will need to monitor and rebalance their position frequently to attempt to achieve the -2x multiple. Aside from the inverse exposure, the shares take on added volatility due to the lack of diversification. Purchasers should conduct their own individual stock research prior to initiating a position and trade with conviction. Due to the complexities of the product, shares tend to perform as anticipated only when the underlying shares are trending and holders are on the positive corresponding side of that trade.
AXTQ (Investment Managers Series Trust II - Tradr 2X Short AXTI Daily ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $1.9M, a beta of 0.00 versus the broader market, a 52-week range of 21.81-67.92, average daily share volume of 229K, a public-listing history dating back to 2026. These structural characteristics shape how AXTQ stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.00 indicates AXTQ 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 AXTQ?
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.
AXTQ snapshot
As of September 29, 2026, spot at $23.61, ATM IV 497.70%, expected move 142.69%. The collar on AXTQ below is built from the September 29, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 17-day expiry.
Why this collar structure on AXTQ specifically: IV rank is unavailable in the current snapshot, so regime-based timing for AXTQ is inferred from ATM IV at 497.70% alone, with a market-implied 1-standard-deviation move of approximately 142.69% (roughly $33.69 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AXTQ expiries trade a higher absolute premium for lower per-day decay. Position sizing on AXTQ should anchor to the underlying notional of $23.61 per share and to the trader's directional view on AXTQ stock.
AXTQ collar setup
The AXTQ collar below is built from the September 29, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AXTQ at $23.61 on that close, the first option leg uses a $25.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AXTQ chain at a 17-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 AXTQ shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $23.61 | long |
| Sell 1 | Call | $25.00 | $5.20 |
| Buy 1 | Put | $22.00 | $9.85 |
AXTQ collar risk and reward
- Net Premium / Debit
- -$2,826.00
- Max Profit (per contract)
- -$326.00
- Max Loss (per contract)
- -$626.00
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- -0.521
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.
AXTQ collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on AXTQ. 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% | -$626.00 |
| $5.23 | -77.9% | -$626.00 |
| $10.45 | -55.7% | -$626.00 |
| $15.67 | -33.6% | -$626.00 |
| $20.89 | -11.5% | -$626.00 |
| $26.11 | +10.6% | -$326.00 |
| $31.33 | +32.7% | -$326.00 |
| $36.54 | +54.8% | -$326.00 |
| $41.76 | +76.9% | -$326.00 |
| $46.98 | +99.0% | -$326.00 |
When traders use collar on AXTQ
Collars on AXTQ hedge an existing long AXTQ 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.
AXTQ thesis for this collar
The market-implied 1-standard-deviation range for AXTQ extends from approximately $-10.08 on the downside to $57.30 on the upside. A AXTQ collar hedges an existing long AXTQ 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. As a Financial Services name, AXTQ options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AXTQ-specific events.
AXTQ 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. AXTQ positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AXTQ alongside the broader basket even when AXTQ-specific fundamentals are unchanged. Always rebuild the position from current AXTQ chain quotes before placing a trade.
Frequently asked questions
- What is a collar on AXTQ?
- A collar on AXTQ is the collar strategy applied to AXTQ (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 AXTQ stock at $23.61 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed AXTQ chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are AXTQ 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 AXTQ collar priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 497.70%), the computed maximum profit is -$326.00 per contract and the computed maximum loss is -$626.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a AXTQ collar?
- The breakeven for the AXTQ collar priced on this page is no defined breakeven on the modeled curve at expiration, derived from the September 29, 2026 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 AXTQ market-implied 1-standard-deviation expected move in the same options snapshot is approximately 142.69%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on AXTQ?
- Collars on AXTQ hedge an existing long AXTQ 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 AXTQ implied volatility affect this collar?
- Current AXTQ ATM IV is 497.70%; IV rank context is unavailable in the current snapshot.