CLPT Collar Strategy
CLPT (ClearPoint Neuro, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
ClearPoint Neuro, Inc. operates as a medical device company primarily in the United States. The company develops and commercializes platforms for performing minimally invasive surgical procedures in the brain under direct, and intra-procedural magnetic resonance imaging (MRI) guidance. It offers ClearPoint system for the insertion of deep brain stimulation electrodes and biopsy needles, and the infusion of pharmaceuticals and laser catheters into the brain; and ClearPoint Neuro Navigation System, an MRI suite. It has license and collaboration agreements with Boston Scientific Corporation, The Johns Hopkins University, Clinical Laserthermia Systems Americas Inc, Koninklijke Philips N.V., Blackrock Neurotech, and University of California and San Francisco. The company was formerly known as MRI Interventions, Inc. and changed its name to ClearPoint Neuro, Inc. in February 2020. ClearPoint Neuro, Inc. was incorporated in 1998 and is headquartered in Solana Beach, California.
CLPT (ClearPoint Neuro, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $365.5M, a beta of 1.29 versus the broader market, a 52-week range of 8.27-30.1, average daily share volume of 743K, a public-listing history dating back to 2012, approximately 115 full-time employees. These structural characteristics shape how CLPT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.29 places CLPT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a collar on CLPT?
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 CLPT snapshot
As of May 15, 2026, spot at $11.78, ATM IV 98.30%, IV rank 14.79%, expected move 28.18%. The collar on CLPT 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 CLPT specifically: IV regime affects collar pricing on both sides; compressed CLPT IV at 98.30% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 28.18% (roughly $3.32 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 CLPT expiries trade a higher absolute premium for lower per-day decay. Position sizing on CLPT should anchor to the underlying notional of $11.78 per share and to the trader's directional view on CLPT stock.
CLPT collar setup
The CLPT 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 CLPT near $11.78, the first option leg uses a $12.37 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CLPT 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 CLPT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $11.78 | long |
| Sell 1 | Call | $12.37 | N/A |
| Buy 1 | Put | $11.19 | N/A |
CLPT 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.
CLPT collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on CLPT. 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 CLPT
Collars on CLPT hedge an existing long CLPT 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.
CLPT thesis for this collar
The market-implied 1-standard-deviation range for CLPT extends from approximately $8.46 on the downside to $15.10 on the upside. A CLPT collar hedges an existing long CLPT 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 CLPT IV rank near 14.79% 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 CLPT at 98.30%. As a Healthcare name, CLPT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CLPT-specific events.
CLPT 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. CLPT positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CLPT alongside the broader basket even when CLPT-specific fundamentals are unchanged. Always rebuild the position from current CLPT chain quotes before placing a trade.
Frequently asked questions
- What is a collar on CLPT?
- A collar on CLPT is the collar strategy applied to CLPT (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 CLPT stock trading near $11.78, the strikes shown on this page are snapped to the nearest listed CLPT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CLPT 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 CLPT collar priced from the end-of-day chain at a 30-day expiry (ATM IV 98.30%), 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 CLPT collar?
- The breakeven for the CLPT 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 CLPT market-implied 1-standard-deviation expected move is approximately 28.18%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on CLPT?
- Collars on CLPT hedge an existing long CLPT 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 CLPT implied volatility affect this collar?
- CLPT ATM IV is at 98.30% with IV rank near 14.79%, 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.