DBVT Collar Strategy
DBVT (DBV Technologies S.A.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
DBV Technologies S.A., a biopharmaceutical firm based in Montrouge, France, operates at the clinical stage, focusing on the research and development of epicutaneous immunotherapy solutions. Its flagship product, Viaskin Peanut, has completed Phase III clinical trials as an immunotherapy for peanut allergies in children aged 4 to 11, adolescents, and adults. The company's pipeline also includes Viaskin Milk, currently undergoing Phase I/II clinical trials for the treatment of Immunoglobulin E (IgE)-mediated cow's milk protein allergy, and Viaskin Egg, which is in pre-clinical development for hen's egg allergy. Additionally, DBV Technologies is developing a booster vaccine targeting Bordetella pertussis. Beyond these, the company explores earlier-stage research for a respiratory syncytial virus vaccine and potential therapies for Crohn's disease, celiac disease, and type I diabetes. In partnership with Nestlé Health Science, it is developing MAG1C, a user-friendly atopy patch test for diagnosing non-IgE mediated cow's milk protein allergy in infants and toddlers.
DBVT (DBV Technologies S.A.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $338.3M, a beta of -0.21 versus the broader market, a 52-week range of 8.7-26.185, average daily share volume of 284K, a public-listing history dating back to 2014, approximately 161 full-time employees. These structural characteristics shape how DBVT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.21 indicates DBVT has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a collar on DBVT?
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.
DBVT snapshot
As of August 14, 2026, spot at $13.96, ATM IV 153.30%, IV rank 57.50%, expected move 43.95%. The collar on DBVT below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this collar structure on DBVT specifically: IV regime affects collar pricing on both sides; mid-range DBVT IV at 153.30% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 43.95% (roughly $6.14 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated DBVT expiries trade a higher absolute premium for lower per-day decay. Position sizing on DBVT should anchor to the underlying notional of $13.96 per share and to the trader's directional view on DBVT stock.
DBVT collar setup
The DBVT 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 DBVT at $13.96 on that close, the first option leg uses a $14.66 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DBVT chain at a 35-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 DBVT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $13.96 | long |
| Sell 1 | Call | $14.66 | N/A |
| Buy 1 | Put | $13.26 | N/A |
DBVT 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.
DBVT collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on DBVT. 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 DBVT
Collars on DBVT hedge an existing long DBVT 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.
DBVT thesis for this collar
The market-implied 1-standard-deviation range for DBVT extends from approximately $7.82 on the downside to $20.10 on the upside. A DBVT collar hedges an existing long DBVT 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 DBVT IV rank near 57.50% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on DBVT should anchor more to the directional view and the expected-move geometry. As a Healthcare name, DBVT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DBVT-specific events.
DBVT 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. DBVT positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move DBVT alongside the broader basket even when DBVT-specific fundamentals are unchanged. Always rebuild the position from current DBVT chain quotes before placing a trade.
Frequently asked questions
- What is a collar on DBVT?
- A collar on DBVT is the collar strategy applied to DBVT (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 DBVT stock at $13.96 on the most recent close, the strikes shown on this page are snapped to the nearest listed DBVT chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are DBVT 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 DBVT collar priced from the end-of-day chain at a 30-day expiry (ATM IV 153.30%), 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 DBVT collar?
- The breakeven for the DBVT collar priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The DBVT market-implied 1-standard-deviation expected move in the same options snapshot is approximately 43.95%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on DBVT?
- Collars on DBVT hedge an existing long DBVT 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 DBVT implied volatility affect this collar?
- DBVT ATM IV is at 153.30% with IV rank near 57.50%, 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.