CTEV Collar Strategy
CTEV (Claritev Corporation), in the Healthcare sector, (Medical - Healthcare Information Services industry), listed on NYSE.
Claritev Corporation, together with its affiliated companies, provides advanced data analytics and technology-enabled services focused on cost management, payment optimization, and revenue assurance for the healthcare sector across the United States. The company offers a suite of services designed to reduce medical expenses. This includes analytics-driven solutions that utilize sophisticated algorithms and data insights to pinpoint billing overcharges, subsequently assisting with or recommending appropriate reimbursement negotiations. Additionally, their network-focused services secure discounted rates through contracts with healthcare providers and provide outsourced administration for these provider networks. Claritev also specializes in payment and revenue integrity, identifying and removing erroneous or unwarranted charges processed during claims, while simultaneously working to identify, recover, and safeguard underpaid premium amounts. Furthermore, their data and decision science offerings encompass a range of solutions that apply modern data science methodologies—including descriptive, predictive, and prescriptive analytics—to refine benefit plan structures, aid strategic decision-making, enhance patient clinical results, and ultimately lower overall healthcare costs.
CTEV (Claritev Corporation) trades in the Healthcare sector, specifically Medical - Healthcare Information Services, with a market capitalization of approximately $565.1M, a beta of 0.77 versus the broader market, a 52-week range of 11.5-74.07, average daily share volume of 137K, a public-listing history dating back to 2020, approximately 3K full-time employees. These structural characteristics shape how CTEV stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.77 places CTEV roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a collar on CTEV?
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 CTEV snapshot
As of June 29, 2026, spot at $34.15, ATM IV 118.60%, IV rank 17.34%, expected move 34.00%. The collar on CTEV 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 172-day expiry.
Why this collar structure on CTEV specifically: IV regime affects collar pricing on both sides; compressed CTEV IV at 118.60% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 34.00% (roughly $11.61 on the underlying). The 172-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CTEV expiries trade a higher absolute premium for lower per-day decay. Position sizing on CTEV should anchor to the underlying notional of $34.15 per share and to the trader's directional view on CTEV stock.
CTEV collar setup
The CTEV 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 CTEV near $34.15, the first option leg uses a $35.86 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CTEV chain at a 172-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 CTEV shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $34.15 | long |
| Sell 1 | Call | $35.86 | N/A |
| Buy 1 | Put | $32.44 | N/A |
CTEV 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.
CTEV collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on CTEV. 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 CTEV
Collars on CTEV hedge an existing long CTEV 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.
CTEV thesis for this collar
The market-implied 1-standard-deviation range for CTEV extends from approximately $22.54 on the downside to $45.76 on the upside. A CTEV collar hedges an existing long CTEV 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 CTEV IV rank near 17.34% 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 CTEV at 118.60%. As a Healthcare name, CTEV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CTEV-specific events.
CTEV 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. CTEV positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CTEV alongside the broader basket even when CTEV-specific fundamentals are unchanged. Always rebuild the position from current CTEV chain quotes before placing a trade.
Frequently asked questions
- What is a collar on CTEV?
- A collar on CTEV is the collar strategy applied to CTEV (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 CTEV stock trading near $34.15, the strikes shown on this page are snapped to the nearest listed CTEV chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CTEV 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 CTEV collar priced from the end-of-day chain at a 30-day expiry (ATM IV 118.60%), 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 CTEV collar?
- The breakeven for the CTEV 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 CTEV market-implied 1-standard-deviation expected move is approximately 34.00%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on CTEV?
- Collars on CTEV hedge an existing long CTEV 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 CTEV implied volatility affect this collar?
- CTEV ATM IV is at 118.60% with IV rank near 17.34%, 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.