EVR Collar Strategy
EVR (Evercore Inc.), in the Financial Services sector, (Financial - Capital Markets industry), listed on NYSE.
Evercore Inc., together with its subsidiaries, operates as an independent investment banking advisory firm in the United States, Europe, Latin America, and internationally. It operates through two segments, Investment Banking and Investment Management. The Investment Banking segment offers strategic advisory services, such as mergers and acquisitions, strategic, defense, and shareholder advisory, special committee assignments, and transaction structuring; Capital Markets Advisory, including equity capital markets, restructuring, debt advisory, private placement advisory, market risk management and hedging, private capital advisory, and private funds; and research, sales, and trading professionals services on a content-led platform to its institutional investor clients. The Investment Management segment provides wealth management services to high-net-worth individuals, foundations, and endowments; and manages financial assets for institutional investors. The company was formerly known as Evercore Partners Inc. and changed its name to Evercore Inc. in August 2017. Evercore Inc. was founded in 1995 and is headquartered in New York, New York.
EVR (Evercore Inc.) trades in the Financial Services sector, specifically Financial - Capital Markets, with a market capitalization of approximately $13.32B, a trailing P/E of 17.55, a beta of 1.49 versus the broader market, a 52-week range of 217.19-388.71, average daily share volume of 651K, a public-listing history dating back to 2006, approximately 2K full-time employees. These structural characteristics shape how EVR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.49 indicates EVR has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. EVR pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on EVR?
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 EVR snapshot
As of May 15, 2026, spot at $335.03, ATM IV 37.80%, IV rank 39.45%, expected move 10.84%. The collar on EVR 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 EVR specifically: IV regime affects collar pricing on both sides; mid-range EVR IV at 37.80% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 10.84% (roughly $36.31 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 EVR expiries trade a higher absolute premium for lower per-day decay. Position sizing on EVR should anchor to the underlying notional of $335.03 per share and to the trader's directional view on EVR stock.
EVR collar setup
The EVR 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 EVR near $335.03, the first option leg uses a $350.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed EVR 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 EVR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $335.03 | long |
| Sell 1 | Call | $350.00 | $9.40 |
| Buy 1 | Put | $320.00 | $9.75 |
EVR collar risk and reward
- Net Premium / Debit
- -$33,538.00
- Max Profit (per contract)
- $1,462.00
- Max Loss (per contract)
- -$1,538.00
- Breakeven(s)
- $335.38
- Risk / Reward Ratio
- 0.951
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.
EVR collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on EVR. 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% | -$1,538.00 |
| $74.09 | -77.9% | -$1,538.00 |
| $148.16 | -55.8% | -$1,538.00 |
| $222.24 | -33.7% | -$1,538.00 |
| $296.31 | -11.6% | -$1,538.00 |
| $370.39 | +10.6% | +$1,462.00 |
| $444.47 | +32.7% | +$1,462.00 |
| $518.54 | +54.8% | +$1,462.00 |
| $592.62 | +76.9% | +$1,462.00 |
| $666.69 | +99.0% | +$1,462.00 |
When traders use collar on EVR
Collars on EVR hedge an existing long EVR 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.
EVR thesis for this collar
The market-implied 1-standard-deviation range for EVR extends from approximately $298.72 on the downside to $371.34 on the upside. A EVR collar hedges an existing long EVR 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 EVR IV rank near 39.45% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on EVR should anchor more to the directional view and the expected-move geometry. As a Financial Services name, EVR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to EVR-specific events.
EVR 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. EVR positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move EVR alongside the broader basket even when EVR-specific fundamentals are unchanged. Always rebuild the position from current EVR chain quotes before placing a trade.
Frequently asked questions
- What is a collar on EVR?
- A collar on EVR is the collar strategy applied to EVR (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 EVR stock trading near $335.03, the strikes shown on this page are snapped to the nearest listed EVR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are EVR 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 EVR collar priced from the end-of-day chain at a 30-day expiry (ATM IV 37.80%), the computed maximum profit is $1,462.00 per contract and the computed maximum loss is -$1,538.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a EVR collar?
- The breakeven for the EVR collar priced on this page is roughly $335.38 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 EVR market-implied 1-standard-deviation expected move is approximately 10.84%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on EVR?
- Collars on EVR hedge an existing long EVR 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 EVR implied volatility affect this collar?
- EVR ATM IV is at 37.80% with IV rank near 39.45%, 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.