CING Collar Strategy
CING (Cingulate Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Cingulate Inc., a clinical-stage biopharmaceutical company, focuses on the development of product candidates for the treatment of attention-deficit/hyperactivity disorder. The company's lead product candidates are CTx-1301 (dexmethylphenidate), which is in phase 3 clinical trial, and CTx-1302 (dextroamphetamine) for the treatment of attention-deficit/hyperactivity disorders. It also focuses on developing CTx-2103 for the treatment of anxiety disorders. The company was founded in 2012 and is headquartered in Kansas City, Kansas.
CING (Cingulate Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $27.6M, a beta of -0.81 versus the broader market, a 52-week range of 3.2-11.89, average daily share volume of 515K, a public-listing history dating back to 2021, approximately 13 full-time employees. These structural characteristics shape how CING stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.81 indicates CING 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 CING?
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 CING snapshot
As of May 15, 2026, spot at $4.59, ATM IV 229.80%, expected move 65.88%. The collar on CING 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 CING specifically: IV rank is unavailable in the current snapshot, so regime-based timing for CING is inferred from ATM IV at 229.80% alone, with a market-implied 1-standard-deviation move of approximately 65.88% (roughly $3.02 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 CING expiries trade a higher absolute premium for lower per-day decay. Position sizing on CING should anchor to the underlying notional of $4.59 per share and to the trader's directional view on CING stock.
CING collar setup
The CING 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 CING near $4.59, the first option leg uses a $4.82 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CING 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 CING shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $4.59 | long |
| Sell 1 | Call | $4.82 | N/A |
| Buy 1 | Put | $4.36 | N/A |
CING 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.
CING collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on CING. 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 CING
Collars on CING hedge an existing long CING 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.
CING thesis for this collar
The market-implied 1-standard-deviation range for CING extends from approximately $1.57 on the downside to $7.61 on the upside. A CING collar hedges an existing long CING 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 Healthcare name, CING options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CING-specific events.
CING 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. CING positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CING alongside the broader basket even when CING-specific fundamentals are unchanged. Always rebuild the position from current CING chain quotes before placing a trade.
Frequently asked questions
- What is a collar on CING?
- A collar on CING is the collar strategy applied to CING (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 CING stock trading near $4.59, the strikes shown on this page are snapped to the nearest listed CING chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CING 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 CING collar priced from the end-of-day chain at a 30-day expiry (ATM IV 229.80%), 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 CING collar?
- The breakeven for the CING 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 CING market-implied 1-standard-deviation expected move is approximately 65.88%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on CING?
- Collars on CING hedge an existing long CING 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 CING implied volatility affect this collar?
- Current CING ATM IV is 229.80%; IV rank context is unavailable in the current snapshot.