FTCI Collar Strategy
FTCI (FTC Solar, Inc.), in the Energy sector, (Solar industry), listed on NASDAQ.
FTC Solar, Inc. provides solar tracker systems, technology, software, and engineering services in the United States, Vietnam, and internationally. It offers two-panel in-portrait single-axis tracker solutions under the Voyager brand name. The company also provides SunPath, a software solution to enhance energy production; Atlas, a web-based enterprise-level database that allows users to manage their project portfolio; and SunDAT, a software solution enables automated design and optimization of solar panel systems across residential, commercial, and utility-scale sites. Its customers include project developers; solar asset owners; and engineering, procurement, and construction contractors that design and build solar energy projects. FTC Solar, Inc. was incorporated in 2017 and is headquartered in Austin, Texas.
FTCI (FTC Solar, Inc.) trades in the Energy sector, specifically Solar, with a market capitalization of approximately $69.3M, a beta of 1.82 versus the broader market, a 52-week range of 3.205-12.75, average daily share volume of 182K, a public-listing history dating back to 2021, approximately 202 full-time employees. These structural characteristics shape how FTCI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.82 indicates FTCI 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 FTCI?
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 FTCI snapshot
As of May 15, 2026, spot at $4.71, ATM IV 80.60%, IV rank 23.30%, expected move 23.11%. The collar on FTCI 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 FTCI specifically: IV regime affects collar pricing on both sides; compressed FTCI IV at 80.60% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 23.11% (roughly $1.09 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 FTCI expiries trade a higher absolute premium for lower per-day decay. Position sizing on FTCI should anchor to the underlying notional of $4.71 per share and to the trader's directional view on FTCI stock.
FTCI collar setup
The FTCI 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 FTCI near $4.71, the first option leg uses a $4.95 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed FTCI 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 FTCI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $4.71 | long |
| Sell 1 | Call | $4.95 | N/A |
| Buy 1 | Put | $4.47 | N/A |
FTCI 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.
FTCI collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on FTCI. 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 FTCI
Collars on FTCI hedge an existing long FTCI 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.
FTCI thesis for this collar
The market-implied 1-standard-deviation range for FTCI extends from approximately $3.62 on the downside to $5.80 on the upside. A FTCI collar hedges an existing long FTCI 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 FTCI IV rank near 23.30% 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 FTCI at 80.60%. As a Energy name, FTCI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to FTCI-specific events.
FTCI 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. FTCI positions also carry Energy sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move FTCI alongside the broader basket even when FTCI-specific fundamentals are unchanged. Always rebuild the position from current FTCI chain quotes before placing a trade.
Frequently asked questions
- What is a collar on FTCI?
- A collar on FTCI is the collar strategy applied to FTCI (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 FTCI stock trading near $4.71, the strikes shown on this page are snapped to the nearest listed FTCI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are FTCI 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 FTCI collar priced from the end-of-day chain at a 30-day expiry (ATM IV 80.60%), 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 FTCI collar?
- The breakeven for the FTCI 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 FTCI market-implied 1-standard-deviation expected move is approximately 23.11%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on FTCI?
- Collars on FTCI hedge an existing long FTCI 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 FTCI implied volatility affect this collar?
- FTCI ATM IV is at 80.60% with IV rank near 23.30%, 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.