DTIL Collar Strategy
DTIL (Precision BioSciences, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Precision BioSciences, Inc., a clinical stage gene editing company, develops in vivo gene editing and ex vivo allogeneic CAR T therapies in the United States. It offers ARCUS, a genome editing platform to cure genetic disorders. The company also provides Ex vivo Allogeneic CAR T Immunotherapy, a form of immunotherapy in which T cell, a specific type of immune cell is genetically engineered to recognize and kill cancer cells; PBCAR0191, which is in Phase 1/2a clinical trial in adult patients with R/R NHL or R/R B-cell precursor acute lymphoblastic leukemia, or B-ALL; PBCAR19B, an anti-CD19 CAR T candidate built on the stealth cell platform utilizing a single-step gene edit to minimize the risk of chromosome abnormalities; and PBCAR269A, an investigational allogeneic CAR T immunotherapy targeting BCMA for the treatment of R/R multiple myeloma. The company has development and commercial license agreement with Les Laboratoires Servier to develop allogeneic chimeric antigen receptor T cell therapies for antigen targets, hematological cancer targets beyond CD19, and solid tumor targets; Tiziana Life Sciences to evaluate foralumab, a fully human anti-CD3 monoclonal antibody as a lymphodepleting agent for the potential treatment of cancers; and iECURE, Inc. to develop ARCUS-based gene editing therapies. Precision BioSciences, Inc. was incorporated in 2006 and is headquartered in Durham, North Carolina.
DTIL (Precision BioSciences, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $107.0M, a beta of 1.31 versus the broader market, a 52-week range of 3.53-8.82, average daily share volume of 265K, a public-listing history dating back to 2019, approximately 108 full-time employees. These structural characteristics shape how DTIL stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.31 indicates DTIL 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 DTIL?
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 DTIL snapshot
As of May 15, 2026, spot at $7.38, ATM IV 277.00%, IV rank 55.61%, expected move 79.41%. The collar on DTIL 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 DTIL specifically: IV regime affects collar pricing on both sides; mid-range DTIL IV at 277.00% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 79.41% (roughly $5.86 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 DTIL expiries trade a higher absolute premium for lower per-day decay. Position sizing on DTIL should anchor to the underlying notional of $7.38 per share and to the trader's directional view on DTIL stock.
DTIL collar setup
The DTIL 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 DTIL near $7.38, the first option leg uses a $7.75 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DTIL 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 DTIL shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $7.38 | long |
| Sell 1 | Call | $7.75 | N/A |
| Buy 1 | Put | $7.01 | N/A |
DTIL 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.
DTIL collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on DTIL. 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 DTIL
Collars on DTIL hedge an existing long DTIL 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.
DTIL thesis for this collar
The market-implied 1-standard-deviation range for DTIL extends from approximately $1.52 on the downside to $13.24 on the upside. A DTIL collar hedges an existing long DTIL 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 DTIL IV rank near 55.61% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on DTIL should anchor more to the directional view and the expected-move geometry. As a Healthcare name, DTIL options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DTIL-specific events.
DTIL 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. DTIL positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move DTIL alongside the broader basket even when DTIL-specific fundamentals are unchanged. Always rebuild the position from current DTIL chain quotes before placing a trade.
Frequently asked questions
- What is a collar on DTIL?
- A collar on DTIL is the collar strategy applied to DTIL (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 DTIL stock trading near $7.38, the strikes shown on this page are snapped to the nearest listed DTIL chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are DTIL 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 DTIL collar priced from the end-of-day chain at a 30-day expiry (ATM IV 277.00%), 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 DTIL collar?
- The breakeven for the DTIL 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 DTIL market-implied 1-standard-deviation expected move is approximately 79.41%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on DTIL?
- Collars on DTIL hedge an existing long DTIL 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 DTIL implied volatility affect this collar?
- DTIL ATM IV is at 277.00% with IV rank near 55.61%, 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.