ENTG Collar Strategy
ENTG (Entegris, Inc.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.
Entegris, Inc. is a global enterprise that develops, manufactures, and supplies critical solutions for microcontamination control, specialty chemicals, and advanced material handling. The company operates extensively across North America, Taiwan, China, South Korea, Japan, Europe, and Southeast Asia. Its operations are structured into three primary segments: Specialty Chemicals and Engineered Materials (SCEM): This division delivers high-performance, ultra-pure process chemistries, specialized gases, and advanced materials, along with their associated delivery systems, crucial for semiconductor fabrication and other sophisticated manufacturing processes. Microcontamination Control (MC): The MC unit focuses on providing systems designed to filter and purify essential liquid chemicals and gases utilized within the semiconductor industry and various other high-technology sectors. Advanced Materials Handling (AMH): This segment creates solutions for the monitoring, protection, transport, and precise delivery of vital liquid chemicals, silicon wafers, and a range of other critical substrates. These offerings support industries such as semiconductors, life sciences, and other high-tech applications.
ENTG (Entegris, Inc.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $24.56B, a trailing P/E of 80.57, a beta of 1.35 versus the broader market, a 52-week range of 67.97-186.94, average daily share volume of 3.1M, a public-listing history dating back to 2000, approximately 8K full-time employees. These structural characteristics shape how ENTG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.35 indicates ENTG has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 80.57 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. ENTG pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on ENTG?
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.
ENTG snapshot
As of August 14, 2026, spot at $161.69, ATM IV 64.10%, IV rank 34.99%, expected move 18.38%. The collar on ENTG 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 ENTG specifically: IV regime affects collar pricing on both sides; mid-range ENTG IV at 64.10% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 18.38% (roughly $29.71 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 ENTG expiries trade a higher absolute premium for lower per-day decay. Position sizing on ENTG should anchor to the underlying notional of $161.69 per share and to the trader's directional view on ENTG stock.
ENTG collar setup
The ENTG 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 ENTG at $161.69 on that close, the first option leg uses a $170.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ENTG 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 ENTG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $161.69 | long |
| Sell 1 | Call | $170.00 | $9.25 |
| Buy 1 | Put | $155.00 | $9.45 |
ENTG collar risk and reward
- Net Premium / Debit
- -$16,189.00
- Max Profit (per contract)
- $811.00
- Max Loss (per contract)
- -$689.00
- Breakeven(s)
- $161.89
- Risk / Reward Ratio
- 1.177
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.
ENTG collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on ENTG. 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% | -$689.00 |
| $35.76 | -77.9% | -$689.00 |
| $71.51 | -55.8% | -$689.00 |
| $107.26 | -33.7% | -$689.00 |
| $143.01 | -11.6% | -$689.00 |
| $178.76 | +10.6% | +$811.00 |
| $214.51 | +32.7% | +$811.00 |
| $250.26 | +54.8% | +$811.00 |
| $286.01 | +76.9% | +$811.00 |
| $321.76 | +99.0% | +$811.00 |
When traders use collar on ENTG
Collars on ENTG hedge an existing long ENTG 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.
ENTG thesis for this collar
The market-implied 1-standard-deviation range for ENTG extends from approximately $131.98 on the downside to $191.40 on the upside. A ENTG collar hedges an existing long ENTG 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 ENTG IV rank near 34.99% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on ENTG should anchor more to the directional view and the expected-move geometry. As a Technology name, ENTG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ENTG-specific events.
ENTG 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. ENTG positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ENTG alongside the broader basket even when ENTG-specific fundamentals are unchanged. Always rebuild the position from current ENTG chain quotes before placing a trade.
Frequently asked questions
- What is a collar on ENTG?
- A collar on ENTG is the collar strategy applied to ENTG (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 ENTG stock at $161.69 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed ENTG chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ENTG 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 ENTG collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 64.10%), the computed maximum profit is $811.00 per contract and the computed maximum loss is -$689.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ENTG collar?
- The breakeven for the ENTG collar priced on this page is roughly $161.89 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 ENTG market-implied 1-standard-deviation expected move in the same options snapshot is approximately 18.38%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on ENTG?
- Collars on ENTG hedge an existing long ENTG 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 ENTG implied volatility affect this collar?
- ENTG ATM IV is at 64.10% with IV rank near 34.99%, 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.