CRNT Collar Strategy
CRNT (Ceragon Networks Ltd.), in the Technology sector, (Communication Equipment industry), listed on NASDAQ.
Ceragon Networks Ltd., an Israeli company headquartered in Rosh HaAyin, was incorporated in 1996 and was formerly known as Giganet Ltd. before adopting its current name in September 2000. The firm specializes in furnishing advanced wireless backhaul and fronthaul systems, enabling cellular network operators and other wireless service providers to manage their telecommunication traffic efficiently. Leveraging sophisticated microwave and millimeter wave radio technologies, Ceragon's solutions facilitate high-speed, ultra-low latency data transfer. These systems are pivotal for connecting various network components, including 5G, 4G, 3G, and other cellular base stations, small or distributed cells, and the core infrastructure of service providers. Ceragon's product range encompasses several hardware families. This includes the IP-20 series for all-outdoor deployments (such as IP-20C, IP-20C-HP, IP-20S, IP-20E, and IP-20V) and split-mount/all-indoor configurations (like IP-20N/IP-20A, IP-20F, and IP-20G).
CRNT (Ceragon Networks Ltd.) trades in the Technology sector, specifically Communication Equipment, with a market capitalization of approximately $212.1M, a beta of 1.34 versus the broader market, a 52-week range of 1.82-3.29, average daily share volume of 644K, a public-listing history dating back to 2000, approximately 1K full-time employees. These structural characteristics shape how CRNT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.34 indicates CRNT 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 CRNT?
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 CRNT snapshot
As of June 29, 2026, spot at $2.46, ATM IV 83.20%, IV rank 17.69%, expected move 23.85%. The collar on CRNT 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 CRNT specifically: IV regime affects collar pricing on both sides; compressed CRNT IV at 83.20% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 23.85% (roughly $0.59 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 CRNT expiries trade a higher absolute premium for lower per-day decay. Position sizing on CRNT should anchor to the underlying notional of $2.46 per share and to the trader's directional view on CRNT stock.
CRNT collar setup
The CRNT 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 CRNT near $2.46, the first option leg uses a $2.58 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CRNT 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 CRNT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $2.46 | long |
| Sell 1 | Call | $2.58 | N/A |
| Buy 1 | Put | $2.34 | N/A |
CRNT 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.
CRNT collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on CRNT. 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 CRNT
Collars on CRNT hedge an existing long CRNT 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.
CRNT thesis for this collar
The market-implied 1-standard-deviation range for CRNT extends from approximately $1.87 on the downside to $3.05 on the upside. A CRNT collar hedges an existing long CRNT 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 CRNT IV rank near 17.69% 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 CRNT at 83.20%. As a Technology name, CRNT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CRNT-specific events.
CRNT 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. CRNT positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CRNT alongside the broader basket even when CRNT-specific fundamentals are unchanged. Always rebuild the position from current CRNT chain quotes before placing a trade.
Frequently asked questions
- What is a collar on CRNT?
- A collar on CRNT is the collar strategy applied to CRNT (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 CRNT stock trading near $2.46, the strikes shown on this page are snapped to the nearest listed CRNT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CRNT 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 CRNT collar priced from the end-of-day chain at a 30-day expiry (ATM IV 83.20%), 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 CRNT collar?
- The breakeven for the CRNT 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 CRNT market-implied 1-standard-deviation expected move is approximately 23.85%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on CRNT?
- Collars on CRNT hedge an existing long CRNT 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 CRNT implied volatility affect this collar?
- CRNT ATM IV is at 83.20% with IV rank near 17.69%, 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.