CNXC Collar Strategy
CNXC (Concentrix Corporation), in the Technology sector, (Information Technology Services industry), listed on NASDAQ.
Concentrix Corporation provides technology-infused customer experience (CX) solutions worldwide. The company provides CX process optimization, technology innovation, front- and back-office automation, analytics, and business transformation services. It also offers customer lifecycle management; customer experience/user experience strategy and design; digital transformation; and voice of the customer and analytics solutions. The company's clients include consumer electronics, technology, e-commerce, and health insurance companies, as well as global IPOs, social brands, and banks. Concentrix Corporation was incorporated in 2009 and is based in Fremont, California.
CNXC (Concentrix Corporation) trades in the Technology sector, specifically Information Technology Services, with a market capitalization of approximately $1.42B, a beta of 0.36 versus the broader market, a 52-week range of 22.05-62.14, average daily share volume of 1.7M, a public-listing history dating back to 2020, approximately 450K full-time employees. These structural characteristics shape how CNXC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.36 indicates CNXC has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. CNXC pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on CNXC?
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 CNXC snapshot
As of May 15, 2026, spot at $24.29, ATM IV 63.10%, IV rank 23.87%, expected move 18.09%. The collar on CNXC 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 CNXC specifically: IV regime affects collar pricing on both sides; compressed CNXC IV at 63.10% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 18.09% (roughly $4.39 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 CNXC expiries trade a higher absolute premium for lower per-day decay. Position sizing on CNXC should anchor to the underlying notional of $24.29 per share and to the trader's directional view on CNXC stock.
CNXC collar setup
The CNXC 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 CNXC near $24.29, the first option leg uses a $25.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CNXC 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 CNXC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $24.29 | long |
| Sell 1 | Call | $25.50 | N/A |
| Buy 1 | Put | $23.08 | N/A |
CNXC 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.
CNXC collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on CNXC. 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 CNXC
Collars on CNXC hedge an existing long CNXC 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.
CNXC thesis for this collar
The market-implied 1-standard-deviation range for CNXC extends from approximately $19.90 on the downside to $28.68 on the upside. A CNXC collar hedges an existing long CNXC 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 CNXC IV rank near 23.87% 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 CNXC at 63.10%. As a Technology name, CNXC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CNXC-specific events.
CNXC 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. CNXC positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CNXC alongside the broader basket even when CNXC-specific fundamentals are unchanged. Always rebuild the position from current CNXC chain quotes before placing a trade.
Frequently asked questions
- What is a collar on CNXC?
- A collar on CNXC is the collar strategy applied to CNXC (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 CNXC stock trading near $24.29, the strikes shown on this page are snapped to the nearest listed CNXC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CNXC 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 CNXC collar priced from the end-of-day chain at a 30-day expiry (ATM IV 63.10%), 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 CNXC collar?
- The breakeven for the CNXC 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 CNXC market-implied 1-standard-deviation expected move is approximately 18.09%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on CNXC?
- Collars on CNXC hedge an existing long CNXC 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 CNXC implied volatility affect this collar?
- CNXC ATM IV is at 63.10% with IV rank near 23.87%, 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.