CRBP Collar Strategy
CRBP (Corbus Pharmaceuticals Holdings, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Corbus Pharmaceuticals Holdings, Inc. is an oncology company, which engages in research, development, and commercializing therapeutics for cancer and obesity. Its pipeline includes CRB-701, an antibody drug conjugate (ADC) that targets the expression of Nectin-4 on cancer cells to release a cytotoxic payload, CRB-601, an anti-integrin monoclonal antibody that blocks the activation of TGFß expressed on cancer cells, and CRB-913, a highly peripherally restricted cannabinoid type-1 (CB1) receptor inverse agonist for the treatment of obesity. The company was founded in April 2009 and is headquartered in Norwood, MA.
CRBP (Corbus Pharmaceuticals Holdings, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $109.6M, a beta of 2.59 versus the broader market, a 52-week range of 6.72-20.56, average daily share volume of 473K, a public-listing history dating back to 2014, approximately 36 full-time employees. These structural characteristics shape how CRBP stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.59 indicates CRBP has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a collar on CRBP?
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 CRBP snapshot
As of June 29, 2026, spot at $8.93, ATM IV 367.40%, IV rank 96.50%, expected move 105.33%. The collar on CRBP 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 18-day expiry.
Why this collar structure on CRBP specifically: IV regime affects collar pricing on both sides; elevated CRBP IV at 367.40% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 105.33% (roughly $9.41 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CRBP expiries trade a higher absolute premium for lower per-day decay. Position sizing on CRBP should anchor to the underlying notional of $8.93 per share and to the trader's directional view on CRBP stock.
CRBP collar setup
The CRBP 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 CRBP near $8.93, the first option leg uses a $9.38 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CRBP chain at a 18-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 CRBP shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $8.93 | long |
| Sell 1 | Call | $9.38 | N/A |
| Buy 1 | Put | $8.48 | N/A |
CRBP 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.
CRBP collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on CRBP. 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 CRBP
Collars on CRBP hedge an existing long CRBP 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.
CRBP thesis for this collar
The market-implied 1-standard-deviation range for CRBP extends from approximately $-0.48 on the downside to $18.34 on the upside. A CRBP collar hedges an existing long CRBP 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 CRBP IV rank near 96.50% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on CRBP at 367.40%. As a Healthcare name, CRBP options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CRBP-specific events.
CRBP 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. CRBP positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CRBP alongside the broader basket even when CRBP-specific fundamentals are unchanged. Always rebuild the position from current CRBP chain quotes before placing a trade.
Frequently asked questions
- What is a collar on CRBP?
- A collar on CRBP is the collar strategy applied to CRBP (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 CRBP stock trading near $8.93, the strikes shown on this page are snapped to the nearest listed CRBP chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CRBP 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 CRBP collar priced from the end-of-day chain at a 30-day expiry (ATM IV 367.40%), 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 CRBP collar?
- The breakeven for the CRBP 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 CRBP market-implied 1-standard-deviation expected move is approximately 105.33%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on CRBP?
- Collars on CRBP hedge an existing long CRBP 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 CRBP implied volatility affect this collar?
- CRBP ATM IV is at 367.40% with IV rank near 96.50%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.