ENLT Collar Strategy
ENLT (Enlight Renewable Energy Ltd), in the Utilities sector, (Renewable Utilities industry), listed on NASDAQ.
Enlight Renewable Energy Ltd operates as a renewable energy platform in Israel and internationally. The company initiates, plans, develops, constructs, and operates projects to produce electricity from renewable energy sources. It develops wind energy and solar energy projects, as well as energy storage projects. The company was incorporated in 1981 and is headquartered in Rosh HaAyin, Israel.
ENLT (Enlight Renewable Energy Ltd) trades in the Utilities sector, specifically Renewable Utilities, with a market capitalization of approximately $12.82B, a trailing P/E of 131.99, a beta of 0.87 versus the broader market, a 52-week range of 16.87-96, average daily share volume of 177K, a public-listing history dating back to 2023, approximately 360 full-time employees. These structural characteristics shape how ENLT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.87 places ENLT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 131.99 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a collar on ENLT?
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 ENLT snapshot
As of May 15, 2026, spot at $85.81, ATM IV 52.80%, IV rank 32.95%, expected move 15.14%. The collar on ENLT 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 98-day expiry.
Why this collar structure on ENLT specifically: IV regime affects collar pricing on both sides; mid-range ENLT IV at 52.80% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 15.14% (roughly $12.99 on the underlying). The 98-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ENLT expiries trade a higher absolute premium for lower per-day decay. Position sizing on ENLT should anchor to the underlying notional of $85.81 per share and to the trader's directional view on ENLT stock.
ENLT collar setup
The ENLT 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 ENLT near $85.81, the first option leg uses a $90.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ENLT chain at a 98-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 ENLT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $85.81 | long |
| Sell 1 | Call | $90.00 | $7.75 |
| Buy 1 | Put | $80.00 | $6.55 |
ENLT collar risk and reward
- Net Premium / Debit
- -$8,461.00
- Max Profit (per contract)
- $539.00
- Max Loss (per contract)
- -$461.00
- Breakeven(s)
- $84.61
- Risk / Reward Ratio
- 1.169
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.
ENLT collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on ENLT. 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 | -100.0% | -$461.00 |
| $18.98 | -77.9% | -$461.00 |
| $37.95 | -55.8% | -$461.00 |
| $56.93 | -33.7% | -$461.00 |
| $75.90 | -11.6% | -$461.00 |
| $94.87 | +10.6% | +$539.00 |
| $113.84 | +32.7% | +$539.00 |
| $132.81 | +54.8% | +$539.00 |
| $151.79 | +76.9% | +$539.00 |
| $170.76 | +99.0% | +$539.00 |
When traders use collar on ENLT
Collars on ENLT hedge an existing long ENLT 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.
ENLT thesis for this collar
The market-implied 1-standard-deviation range for ENLT extends from approximately $72.82 on the downside to $98.80 on the upside. A ENLT collar hedges an existing long ENLT 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 ENLT IV rank near 32.95% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on ENLT should anchor more to the directional view and the expected-move geometry. As a Utilities name, ENLT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ENLT-specific events.
ENLT 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. ENLT positions also carry Utilities sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ENLT alongside the broader basket even when ENLT-specific fundamentals are unchanged. Always rebuild the position from current ENLT chain quotes before placing a trade.
Frequently asked questions
- What is a collar on ENLT?
- A collar on ENLT is the collar strategy applied to ENLT (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 ENLT stock trading near $85.81, the strikes shown on this page are snapped to the nearest listed ENLT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ENLT 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 ENLT collar priced from the end-of-day chain at a 30-day expiry (ATM IV 52.80%), the computed maximum profit is $539.00 per contract and the computed maximum loss is -$461.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ENLT collar?
- The breakeven for the ENLT collar priced on this page is roughly $84.61 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 ENLT market-implied 1-standard-deviation expected move is approximately 15.14%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on ENLT?
- Collars on ENLT hedge an existing long ENLT 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 ENLT implied volatility affect this collar?
- ENLT ATM IV is at 52.80% with IV rank near 32.95%, 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.