CYRX Collar Strategy
CYRX (Cryoport, Inc.), in the Industrials sector, (Integrated Freight & Logistics industry), listed on NASDAQ.
Cryoport, Inc., a life sciences services company, provides temperature-controlled logistics solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoportal, a cloud-based logistics management platform that supports the management of shipments, which includes order entry, document preparation, customs documentation, courier management, real-time shipment tracking and monitoring, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, which is used to ensure that the stability of shipped biologic commodities is maintained throughout the shipping cycle. It also provides information dashboards and validation documentation for shipments through data collected by the SmartPak Condition Monitoring System; and vacuum insulated aluminum dewars and cryogenic freezers systems. In addition, the company offers biological specimen cryopreservation storage and maintenance; archiving, monitoring, tracking, receipt, and delivery of samples; transportation of frozen biological specimens to and from customer locations; and management of incoming and outgoing biological specimens, as well as provides logistics support and management; and short-term logistics and engineering consulting services. It serves biopharma/pharma, animal health, and human reproductive medicine markets. The company was founded in 1999 and is headquartered in Brentwood, Tennessee.
CYRX (Cryoport, Inc.) trades in the Industrials sector, specifically Integrated Freight & Logistics, with a market capitalization of approximately $667.8M, a trailing P/E of 8.24, a beta of 1.75 versus the broader market, a 52-week range of 5.31-13.79, average daily share volume of 499K, a public-listing history dating back to 2005, approximately 1K full-time employees. These structural characteristics shape how CYRX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.75 indicates CYRX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 8.24 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price.
What is a collar on CYRX?
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 CYRX snapshot
As of May 15, 2026, spot at $13.16, ATM IV 66.00%, IV rank 25.74%, expected move 18.92%. The collar on CYRX 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 CYRX specifically: IV regime affects collar pricing on both sides; compressed CYRX IV at 66.00% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 18.92% (roughly $2.49 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 CYRX expiries trade a higher absolute premium for lower per-day decay. Position sizing on CYRX should anchor to the underlying notional of $13.16 per share and to the trader's directional view on CYRX stock.
CYRX collar setup
The CYRX 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 CYRX near $13.16, the first option leg uses a $13.82 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CYRX 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 CYRX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $13.16 | long |
| Sell 1 | Call | $13.82 | N/A |
| Buy 1 | Put | $12.50 | N/A |
CYRX 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.
CYRX collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on CYRX. 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 CYRX
Collars on CYRX hedge an existing long CYRX 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.
CYRX thesis for this collar
The market-implied 1-standard-deviation range for CYRX extends from approximately $10.67 on the downside to $15.65 on the upside. A CYRX collar hedges an existing long CYRX 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 CYRX IV rank near 25.74% 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 CYRX at 66.00%. As a Industrials name, CYRX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CYRX-specific events.
CYRX 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. CYRX positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CYRX alongside the broader basket even when CYRX-specific fundamentals are unchanged. Always rebuild the position from current CYRX chain quotes before placing a trade.
Frequently asked questions
- What is a collar on CYRX?
- A collar on CYRX is the collar strategy applied to CYRX (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 CYRX stock trading near $13.16, the strikes shown on this page are snapped to the nearest listed CYRX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CYRX 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 CYRX collar priced from the end-of-day chain at a 30-day expiry (ATM IV 66.00%), 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 CYRX collar?
- The breakeven for the CYRX 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 CYRX market-implied 1-standard-deviation expected move is approximately 18.92%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on CYRX?
- Collars on CYRX hedge an existing long CYRX 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 CYRX implied volatility affect this collar?
- CYRX ATM IV is at 66.00% with IV rank near 25.74%, 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.