DBRG Collar Strategy
DBRG (DigitalBridge Group, Inc.), in the Real Estate sector, (REIT - Diversified industry), listed on NYSE.
DigitalBridge (NYSE: DBRG) is an infrastructure investment firm. It specializes in investing and operating businesses across the digital ecosystem including cell towers, data centers, fiber, small cells, edge infrastructure, digital infrastructure and real estate. DigitalBridge Group, Inc. was founded in 2009 and is headquartered in Boca Raton, Florida with additional offices in Los Angeles, California; New York, New York; Boston, Massachusetts; Denver, Colorado; London, United Kingdom; Senningerberg, Luxembourg and Singapore.
DBRG (DigitalBridge Group, Inc.) trades in the Real Estate sector, specifically REIT - Diversified, with a market capitalization of approximately $2.85B, a trailing P/E of 18.96, a beta of 1.50 versus the broader market, a 52-week range of 8.94-15.66, average daily share volume of 3.2M, a public-listing history dating back to 2014, approximately 324 full-time employees. These structural characteristics shape how DBRG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.50 indicates DBRG has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. DBRG pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on DBRG?
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 DBRG snapshot
As of May 15, 2026, spot at $15.66, ATM IV 111.49%, IV rank 65.14%, expected move 14.94%. The collar on DBRG 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 28-day expiry.
Why this collar structure on DBRG specifically: IV regime affects collar pricing on both sides; mid-range DBRG IV at 111.49% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 14.94% (roughly $2.34 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated DBRG expiries trade a higher absolute premium for lower per-day decay. Position sizing on DBRG should anchor to the underlying notional of $15.66 per share and to the trader's directional view on DBRG stock.
DBRG collar setup
The DBRG 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 DBRG near $15.66, the first option leg uses a $16.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DBRG chain at a 28-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 DBRG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $15.66 | long |
| Sell 1 | Call | $16.00 | $1.01 |
| Buy 1 | Put | $15.00 | $0.80 |
DBRG collar risk and reward
- Net Premium / Debit
- -$1,545.00
- Max Profit (per contract)
- $55.00
- Max Loss (per contract)
- -$45.00
- Breakeven(s)
- $15.45
- Risk / Reward Ratio
- 1.222
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.
DBRG collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on DBRG. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -99.9% | -$45.00 |
| $3.47 | -77.8% | -$45.00 |
| $6.93 | -55.7% | -$45.00 |
| $10.39 | -33.6% | -$45.00 |
| $13.86 | -11.5% | -$45.00 |
| $17.32 | +10.6% | +$55.00 |
| $20.78 | +32.7% | +$55.00 |
| $24.24 | +54.8% | +$55.00 |
| $27.70 | +76.9% | +$55.00 |
| $31.16 | +99.0% | +$55.00 |
When traders use collar on DBRG
Collars on DBRG hedge an existing long DBRG 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.
DBRG thesis for this collar
The market-implied 1-standard-deviation range for DBRG extends from approximately $13.32 on the downside to $18.00 on the upside. A DBRG collar hedges an existing long DBRG 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 DBRG IV rank near 65.14% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on DBRG should anchor more to the directional view and the expected-move geometry. As a Real Estate name, DBRG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DBRG-specific events.
DBRG 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. DBRG positions also carry Real Estate sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move DBRG alongside the broader basket even when DBRG-specific fundamentals are unchanged. Always rebuild the position from current DBRG chain quotes before placing a trade.
Frequently asked questions
- What is a collar on DBRG?
- A collar on DBRG is the collar strategy applied to DBRG (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 DBRG stock trading near $15.66, the strikes shown on this page are snapped to the nearest listed DBRG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are DBRG 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 DBRG collar priced from the end-of-day chain at a 30-day expiry (ATM IV 111.49%), the computed maximum profit is $55.00 per contract and the computed maximum loss is -$45.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a DBRG collar?
- The breakeven for the DBRG collar priced on this page is roughly $15.45 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 DBRG market-implied 1-standard-deviation expected move is approximately 14.94%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on DBRG?
- Collars on DBRG hedge an existing long DBRG 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 DBRG implied volatility affect this collar?
- DBRG ATM IV is at 111.49% with IV rank near 65.14%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.