CACI Collar Strategy
CACI (CACI International Inc), in the Technology sector, (Information Technology Services industry), listed on NYSE.
CACI International Inc, together with its subsidiaries, provides expertise and technology to enterprise and mission customers in support of national security missions and government modernization/transformation in the intelligence, defense, and federal civilian sectors. It operates in two segments, Domestic Operations and International Operations. The Domestic Operations segment offers information solutions and services to the U.S. federal government agencies and commercial enterprises in the areas, such as digital solutions, C4ISR, cyber and space, engineering services, enterprise IT, and mission support. The International Operations segment provides a range of IT services, proprietary data, and software products to the commercial and government customers in the United Kingdom, continental Europe, and internationally. The company designs, implements, protects, and manages secure enterprise IT solutions. It also offers software-defined, full-spectrum cyber, electronic warfare, and counter-unmanned aircraft system solutions; and platform integration and modernization and sustainment, as well as system engineering, naval architecture, training and simulation, and logistics engineering.
CACI (CACI International Inc) trades in the Technology sector, specifically Information Technology Services, with a market capitalization of approximately $11.13B, a trailing P/E of 20.70, a beta of 0.54 versus the broader market, a 52-week range of 409.62-683.5, average daily share volume of 279K, a public-listing history dating back to 1980, approximately 25K full-time employees. These structural characteristics shape how CACI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.54 indicates CACI 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 CACI?
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 CACI snapshot
As of May 15, 2026, spot at $485.95, ATM IV 37.90%, IV rank 38.49%, expected move 10.87%. The collar on CACI 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 CACI specifically: IV regime affects collar pricing on both sides; mid-range CACI IV at 37.90% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 10.87% (roughly $52.80 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 CACI expiries trade a higher absolute premium for lower per-day decay. Position sizing on CACI should anchor to the underlying notional of $485.95 per share and to the trader's directional view on CACI stock.
CACI collar setup
The CACI 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 CACI near $485.95, the first option leg uses a $510.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CACI 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 CACI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $485.95 | long |
| Sell 1 | Call | $510.00 | $15.15 |
| Buy 1 | Put | $460.00 | $10.05 |
CACI collar risk and reward
- Net Premium / Debit
- -$48,085.00
- Max Profit (per contract)
- $2,915.00
- Max Loss (per contract)
- -$2,085.00
- Breakeven(s)
- $480.85
- Risk / Reward Ratio
- 1.398
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.
CACI collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on CACI. 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% | -$2,085.00 |
| $107.46 | -77.9% | -$2,085.00 |
| $214.90 | -55.8% | -$2,085.00 |
| $322.35 | -33.7% | -$2,085.00 |
| $429.79 | -11.6% | -$2,085.00 |
| $537.24 | +10.6% | +$2,915.00 |
| $644.68 | +32.7% | +$2,915.00 |
| $752.13 | +54.8% | +$2,915.00 |
| $859.57 | +76.9% | +$2,915.00 |
| $967.02 | +99.0% | +$2,915.00 |
When traders use collar on CACI
Collars on CACI hedge an existing long CACI 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.
CACI thesis for this collar
The market-implied 1-standard-deviation range for CACI extends from approximately $433.15 on the downside to $538.75 on the upside. A CACI collar hedges an existing long CACI 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 CACI IV rank near 38.49% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on CACI should anchor more to the directional view and the expected-move geometry. As a Technology name, CACI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CACI-specific events.
CACI 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. CACI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CACI alongside the broader basket even when CACI-specific fundamentals are unchanged. Always rebuild the position from current CACI chain quotes before placing a trade.
Frequently asked questions
- What is a collar on CACI?
- A collar on CACI is the collar strategy applied to CACI (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 CACI stock trading near $485.95, the strikes shown on this page are snapped to the nearest listed CACI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CACI 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 CACI collar priced from the end-of-day chain at a 30-day expiry (ATM IV 37.90%), the computed maximum profit is $2,915.00 per contract and the computed maximum loss is -$2,085.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CACI collar?
- The breakeven for the CACI collar priced on this page is roughly $480.85 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 CACI market-implied 1-standard-deviation expected move is approximately 10.87%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on CACI?
- Collars on CACI hedge an existing long CACI 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 CACI implied volatility affect this collar?
- CACI ATM IV is at 37.90% with IV rank near 38.49%, 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.