How are GOLF 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 GOLF collar priced from the end-of-day chain at a 30-day expiry (ATM IV 140.70%), the computed maximum profit is $500.00 per contract and the computed maximum loss is -$500.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a GOLF collar?

The breakeven for the GOLF collar priced on this page is roughly $85.00 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 GOLF market-implied 1-standard-deviation expected move is approximately 40.34%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current GOLF implied volatility affect this collar?

GOLF ATM IV is at 140.70% with IV rank near 25.80%, 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.

GOLF Collar Strategy

GOLF (Acushnet Holdings Corp.), in the Consumer Cyclical sector, (Leisure industry), listed on NYSE.

Acushnet Holdings Corp. designs, develops, manufactures, and distributes golf products in the United States, Europe, the Middle East, Africa, Japan, Korea, and internationally. The company operates through four segments: Titleist Golf Balls, Titleist Golf Clubs, Titleist Golf Gear, and FootJoy Golf Wear. It offers golf balls under the Titleist brand; golf clubs, such as drivers, fairways, hybrids, and irons under the Titleist brand name; wedges under the Vokey Design brand; and putters under the Scotty Cameron brand. The company also provides golf bags, headwear, golf gloves, travel products, head covers, and other golf accessories, as well as offers customization and personalization of products in Titleist golf gear. In addition, it offers golf shoes, gloves, golf outerwear, and men's and women's golf apparels under the FootJoy brand; and ski, golf, and lifestyle apparels under the KJUS brand name. It sells its products through on-course golf shops and golf specialty retailers, as well as through representatives, other retailers, and online.

GOLF (Acushnet Holdings Corp.) trades in the Consumer Cyclical sector, specifically Leisure, with a market capitalization of approximately $4.95B, a trailing P/E of 29.66, a beta of 0.89 versus the broader market, a 52-week range of 67.14-104.81, average daily share volume of 359K, a public-listing history dating back to 2016, approximately 7K full-time employees. These structural characteristics shape how GOLF stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.89 places GOLF roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. GOLF pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a collar on GOLF?

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 GOLF snapshot

As of May 15, 2026, spot at $85.64, ATM IV 140.70%, IV rank 25.80%, expected move 40.34%. The collar on GOLF 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 GOLF specifically: IV regime affects collar pricing on both sides; compressed GOLF IV at 140.70% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 40.34% (roughly $34.54 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 GOLF expiries trade a higher absolute premium for lower per-day decay. Position sizing on GOLF should anchor to the underlying notional of $85.64 per share and to the trader's directional view on GOLF stock.

GOLF collar setup

The GOLF 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 GOLF near $85.64, 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 GOLF 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 GOLF shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$85.64	long
Sell 1	Call	$90.00	$1.71
Buy 1	Put	$80.00	$1.07

GOLF collar risk and reward

Net Premium / Debit: -$8,500.00
Max Profit (per contract): $500.00
Max Loss (per contract): -$500.00
Breakeven(s): $85.00
Risk / Reward Ratio: 1.000

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.

GOLF collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on GOLF. 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%	-$500.00
$18.94	-77.9%	-$500.00
$37.88	-55.8%	-$500.00
$56.81	-33.7%	-$500.00
$75.75	-11.6%	-$500.00
$94.68	+10.6%	+$500.00
$113.62	+32.7%	+$500.00
$132.55	+54.8%	+$500.00
$151.48	+76.9%	+$500.00
$170.42	+99.0%	+$500.00

When traders use collar on GOLF

Collars on GOLF hedge an existing long GOLF 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.

GOLF thesis for this collar

The market-implied 1-standard-deviation range for GOLF extends from approximately $51.10 on the downside to $120.18 on the upside. A GOLF collar hedges an existing long GOLF 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 GOLF IV rank near 25.80% 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 GOLF at 140.70%. As a Consumer Cyclical name, GOLF options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GOLF-specific events.

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

Frequently asked questions

What is a collar on GOLF?: A collar on GOLF is the collar strategy applied to GOLF (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 GOLF stock trading near $85.64, the strikes shown on this page are snapped to the nearest listed GOLF chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are GOLF 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 GOLF collar priced from the end-of-day chain at a 30-day expiry (ATM IV 140.70%), the computed maximum profit is $500.00 per contract and the computed maximum loss is -$500.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a GOLF collar?: The breakeven for the GOLF collar priced on this page is roughly $85.00 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 GOLF market-implied 1-standard-deviation expected move is approximately 40.34%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on GOLF?: Collars on GOLF hedge an existing long GOLF 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 GOLF implied volatility affect this collar?: GOLF ATM IV is at 140.70% with IV rank near 25.80%, 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.