COUR Collar Strategy
COUR (Coursera, Inc.), in the Consumer Defensive sector, (Education & Training Services industry), listed on NYSE.
Coursera, Inc. operates an online learning platform that provides education and skills training in the United States, Europe, the Middle East, Africa, the Asia Pacific, and internationally. It operates through Consumer and Enterprise segments. The company offers guided projects, courses, and specializations; online bachelor’s and master’s degrees; postgraduate diplomas; and certificates for entry-level professional, non-entry level professional, university, and MasterTrack programs in the domains of business, computer science, technology, and data science through Coursera.org for Individuals, Coursera Plus, Coursera for Enterprise, Coursera for Business, Coursera for Campus, and Coursera for Government. It offers its products to individuals, businesses, institutions, employers, colleges and universities, organizations, and governments. The company was formerly known as Dkandu, Inc. and changed its name to Coursera, Inc. in April 2012. Coursera, Inc. was incorporated in 2011 and is headquartered in Mountain View, California.
COUR (Coursera, Inc.) trades in the Consumer Defensive sector, specifically Education & Training Services, with a market capitalization of approximately $1.06B, a beta of 1.23 versus the broader market, a 52-week range of 5-12.32, average daily share volume of 7.0M, a public-listing history dating back to 2021, approximately 1K full-time employees. These structural characteristics shape how COUR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.23 places COUR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a collar on COUR?
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.
COUR snapshot
As of August 14, 2026, spot at $5.79, ATM IV 53.20%, IV rank 7.48%, expected move 15.25%. The collar on COUR below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this collar structure on COUR specifically: IV regime affects collar pricing on both sides; compressed COUR IV at 53.20% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 15.25% (roughly $0.88 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated COUR expiries trade a higher absolute premium for lower per-day decay. Position sizing on COUR should anchor to the underlying notional of $5.79 per share and to the trader's directional view on COUR stock.
COUR collar setup
The COUR 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 COUR at $5.79 on that close, the first option leg uses a $6.08 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed COUR chain at a 35-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 COUR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $5.79 | long |
| Sell 1 | Call | $6.08 | N/A |
| Buy 1 | Put | $5.50 | N/A |
COUR 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.
COUR collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on COUR. 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 COUR
Collars on COUR hedge an existing long COUR 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.
COUR thesis for this collar
The market-implied 1-standard-deviation range for COUR extends from approximately $4.91 on the downside to $6.67 on the upside. A COUR collar hedges an existing long COUR 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 COUR IV rank near 7.48% 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 COUR at 53.20%. As a Consumer Defensive name, COUR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to COUR-specific events.
COUR 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. COUR positions also carry Consumer Defensive sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move COUR alongside the broader basket even when COUR-specific fundamentals are unchanged. Always rebuild the position from current COUR chain quotes before placing a trade.
Frequently asked questions
- What is a collar on COUR?
- A collar on COUR is the collar strategy applied to COUR (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 COUR stock at $5.79 on the most recent close, the strikes shown on this page are snapped to the nearest listed COUR chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are COUR 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 COUR collar priced from the end-of-day chain at a 30-day expiry (ATM IV 53.20%), 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 COUR collar?
- The breakeven for the COUR collar priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The COUR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 15.25%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on COUR?
- Collars on COUR hedge an existing long COUR 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 COUR implied volatility affect this collar?
- COUR ATM IV is at 53.20% with IV rank near 7.48%, 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.