CELC Collar Strategy
CELC (Celcuity Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Celcuity Inc., a clinical stage biotechnology company, focuses on the development of molecularly targeted therapies for cancer patients in the United States. The company's CELsignia diagnostic platform uses a patient's living tumor cells to identify the specific abnormal cellular process driving a patient's cancer and the related targeted therapy for the treatment. Its drug candidate includes Gedatolisib, which selectively targets various class I isoforms of PI3K and mammalian target of rapamycin and focus on the treatment of patients with hormone receptor positive, HER2-negative, and advanced or metastatic breast cancer. The company is also developing CELsignia MP test, a qualitative laboratory developed test that measures HER2, c-Met, and PI3K signaling activity in breast and ovarian tumor cells. It had a license agreement with Pfizer, Inc. for the development and commercialization rights to Gedatolisib. Celcuity Inc. was founded in 2011 and is headquartered in Minneapolis, Minnesota.
CELC (Celcuity Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $6.02B, a beta of 0.09 versus the broader market, a 52-week range of 9.51-151.02, average daily share volume of 840K, a public-listing history dating back to 2017, approximately 87 full-time employees. These structural characteristics shape how CELC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.09 indicates CELC 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 CELC?
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 CELC snapshot
As of May 15, 2026, spot at $137.57, ATM IV 80.20%, IV rank 10.42%, expected move 22.99%. The collar on CELC 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 CELC specifically: IV regime affects collar pricing on both sides; compressed CELC IV at 80.20% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 22.99% (roughly $31.63 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 CELC expiries trade a higher absolute premium for lower per-day decay. Position sizing on CELC should anchor to the underlying notional of $137.57 per share and to the trader's directional view on CELC stock.
CELC collar setup
The CELC 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 CELC near $137.57, the first option leg uses a $145.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CELC 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 CELC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $137.57 | long |
| Sell 1 | Call | $145.00 | $10.00 |
| Buy 1 | Put | $130.00 | $10.20 |
CELC collar risk and reward
- Net Premium / Debit
- -$13,777.00
- Max Profit (per contract)
- $723.00
- Max Loss (per contract)
- -$777.00
- Breakeven(s)
- $137.77
- Risk / Reward Ratio
- 0.931
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.
CELC collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on CELC. 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% | -$777.00 |
| $30.43 | -77.9% | -$777.00 |
| $60.84 | -55.8% | -$777.00 |
| $91.26 | -33.7% | -$777.00 |
| $121.68 | -11.6% | -$777.00 |
| $152.09 | +10.6% | +$723.00 |
| $182.51 | +32.7% | +$723.00 |
| $212.92 | +54.8% | +$723.00 |
| $243.34 | +76.9% | +$723.00 |
| $273.76 | +99.0% | +$723.00 |
When traders use collar on CELC
Collars on CELC hedge an existing long CELC 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.
CELC thesis for this collar
The market-implied 1-standard-deviation range for CELC extends from approximately $105.94 on the downside to $169.20 on the upside. A CELC collar hedges an existing long CELC 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 CELC IV rank near 10.42% 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 CELC at 80.20%. As a Healthcare name, CELC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CELC-specific events.
CELC 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. CELC positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CELC alongside the broader basket even when CELC-specific fundamentals are unchanged. Always rebuild the position from current CELC chain quotes before placing a trade.
Frequently asked questions
- What is a collar on CELC?
- A collar on CELC is the collar strategy applied to CELC (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 CELC stock trading near $137.57, the strikes shown on this page are snapped to the nearest listed CELC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CELC 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 CELC collar priced from the end-of-day chain at a 30-day expiry (ATM IV 80.20%), the computed maximum profit is $723.00 per contract and the computed maximum loss is -$777.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CELC collar?
- The breakeven for the CELC collar priced on this page is roughly $137.77 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 CELC market-implied 1-standard-deviation expected move is approximately 22.99%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on CELC?
- Collars on CELC hedge an existing long CELC 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 CELC implied volatility affect this collar?
- CELC ATM IV is at 80.20% with IV rank near 10.42%, 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.