How are ECG 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 ECG collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 55.00%), the computed maximum profit is $792.00 per contract and the computed maximum loss is -$708.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ECG collar?

The breakeven for the ECG collar priced on this page is roughly $142.08 at expiration, derived from the August 14, 2026 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 ECG market-implied 1-standard-deviation expected move in the same options snapshot is approximately 15.77%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current ECG implied volatility affect this collar?

ECG ATM IV is at 55.00% with IV rank near 19.72%, 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.

ECG Collar Strategy

ECG (Everus Construction Group, Inc.), in the Industrials sector, (Engineering & Construction industry), listed on NYSE.

Everus Construction Group, Inc. specializes in developing utility infrastructure. Their comprehensive service portfolio includes building electrical transmission lines and pipelines, alongside internal electrical wiring, cabling installations, and various mechanical solutions. Furthermore, the firm manufactures and distributes specialized equipment and electrical control panels. They are also responsible for the installation and ongoing maintenance of automatic fire suppression systems, particularly within the Las Vegas and Reno regions. This company was founded in 1995 and maintains its primary base of operations in Bismarck, North Dakota.

ECG (Everus Construction Group, Inc.) trades in the Industrials sector, specifically Engineering & Construction, with a market capitalization of approximately $7.15B, a trailing P/E of 28.11, a beta of 2.47 versus the broader market, a 52-week range of 72.43-171.577, average daily share volume of 626K, a public-listing history dating back to 2024, approximately 9K full-time employees. These structural characteristics shape how ECG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.47 indicates ECG 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 ECG?

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.

ECG snapshot

As of August 14, 2026, spot at $141.08, ATM IV 55.00%, IV rank 19.72%, expected move 15.77%. The collar on ECG below is built from the August 14, 2026 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 ECG specifically: IV regime affects collar pricing on both sides; compressed ECG IV at 55.00% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 15.77% (roughly $22.25 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 ECG expiries trade a higher absolute premium for lower per-day decay. Position sizing on ECG should anchor to the underlying notional of $141.08 per share and to the trader's directional view on ECG stock.

ECG collar setup

The ECG collar below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ECG at $141.08 on that close, the first option leg uses a $150.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ECG 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 ECG shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$141.08	long
Sell 1	Call	$150.00	$5.80
Buy 1	Put	$135.00	$6.80

ECG collar risk and reward

Net Premium / Debit: -$14,208.00
Max Profit (per contract): $792.00
Max Loss (per contract): -$708.00
Breakeven(s): $142.08
Risk / Reward Ratio: 1.119

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.

ECG collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on ECG. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$708.00
$31.20	-77.9%	-$708.00
$62.39	-55.8%	-$708.00
$93.59	-33.7%	-$708.00
$124.78	-11.6%	-$708.00
$155.97	+10.6%	+$792.00
$187.16	+32.7%	+$792.00
$218.36	+54.8%	+$792.00
$249.55	+76.9%	+$792.00
$280.74	+99.0%	+$792.00

When traders use collar on ECG

Collars on ECG hedge an existing long ECG 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.

ECG thesis for this collar

The market-implied 1-standard-deviation range for ECG extends from approximately $118.83 on the downside to $163.33 on the upside. A ECG collar hedges an existing long ECG 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 ECG IV rank near 19.72% 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 ECG at 55.00%. As a Industrials name, ECG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ECG-specific events.

ECG 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. ECG positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ECG alongside the broader basket even when ECG-specific fundamentals are unchanged. Always rebuild the position from current ECG chain quotes before placing a trade.

Frequently asked questions

What is a collar on ECG?: A collar on ECG is the collar strategy applied to ECG (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 ECG stock at $141.08 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed ECG chain strike and the premiums come straight from that session's bid/ask midpoint.
How are ECG 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 ECG collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 55.00%), the computed maximum profit is $792.00 per contract and the computed maximum loss is -$708.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ECG collar?: The breakeven for the ECG collar priced on this page is roughly $142.08 at expiration, derived from the August 14, 2026 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 ECG market-implied 1-standard-deviation expected move in the same options snapshot is approximately 15.77%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on ECG?: Collars on ECG hedge an existing long ECG 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 ECG implied volatility affect this collar?: ECG ATM IV is at 55.00% with IV rank near 19.72%, 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.