GPOR Collar Strategy
GPOR (Gulfport Energy Corporation), in the Energy sector, (Oil & Gas Exploration & Production industry), listed on NYSE.
Gulfport Energy Corporation engages in the exploration, development, acquisition, production of natural gas, crude oil, and natural gas liquids (NGL) in the United States. Its principal properties include Utica Shale covering an area approximately 187,000 net reservoir acres primarily located in Eastern Ohio; and SCOOP covering an area approximately 74,000 net reservoir acres primarily located in Garvin, Grady, and Stephens. As of December 31, 2021, it had 3.9 trillion cubic feet of natural gas equivalent to proved reserves; and proved undeveloped reserves comprising 8 MMbbl oil and 22 MMBbl NGL, and 1,550 Bcf natural gas. The company was incorporated in 1997 and is headquartered in Oklahoma City, Oklahoma.
GPOR (Gulfport Energy Corporation) trades in the Energy sector, specifically Oil & Gas Exploration & Production, with a market capitalization of approximately $3.22B, a trailing P/E of 5.59, a beta of 0.46 versus the broader market, a 52-week range of 160.95-225.78, average daily share volume of 362K, a public-listing history dating back to 2021, approximately 235 full-time employees. These structural characteristics shape how GPOR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.46 indicates GPOR has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. The trailing P/E of 5.59 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price.
What is a collar on GPOR?
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 GPOR snapshot
As of May 15, 2026, spot at $183.02, ATM IV 34.10%, IV rank 31.51%, expected move 9.78%. The collar on GPOR 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 GPOR specifically: IV regime affects collar pricing on both sides; mid-range GPOR IV at 34.10% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 9.78% (roughly $17.89 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 GPOR expiries trade a higher absolute premium for lower per-day decay. Position sizing on GPOR should anchor to the underlying notional of $183.02 per share and to the trader's directional view on GPOR stock.
GPOR collar setup
The GPOR 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 GPOR near $183.02, the first option leg uses a $190.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GPOR 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 GPOR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $183.02 | long |
| Sell 1 | Call | $190.00 | $4.75 |
| Buy 1 | Put | $175.00 | $4.25 |
GPOR collar risk and reward
- Net Premium / Debit
- -$18,252.00
- Max Profit (per contract)
- $748.00
- Max Loss (per contract)
- -$752.00
- Breakeven(s)
- $182.52
- Risk / Reward Ratio
- 0.995
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.
GPOR collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on GPOR. 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% | -$752.00 |
| $40.48 | -77.9% | -$752.00 |
| $80.94 | -55.8% | -$752.00 |
| $121.41 | -33.7% | -$752.00 |
| $161.87 | -11.6% | -$752.00 |
| $202.34 | +10.6% | +$748.00 |
| $242.80 | +32.7% | +$748.00 |
| $283.27 | +54.8% | +$748.00 |
| $323.74 | +76.9% | +$748.00 |
| $364.20 | +99.0% | +$748.00 |
When traders use collar on GPOR
Collars on GPOR hedge an existing long GPOR 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.
GPOR thesis for this collar
The market-implied 1-standard-deviation range for GPOR extends from approximately $165.13 on the downside to $200.91 on the upside. A GPOR collar hedges an existing long GPOR 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 GPOR IV rank near 31.51% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on GPOR should anchor more to the directional view and the expected-move geometry. As a Energy name, GPOR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GPOR-specific events.
GPOR 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. GPOR positions also carry Energy sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GPOR alongside the broader basket even when GPOR-specific fundamentals are unchanged. Always rebuild the position from current GPOR chain quotes before placing a trade.
Frequently asked questions
- What is a collar on GPOR?
- A collar on GPOR is the collar strategy applied to GPOR (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 GPOR stock trading near $183.02, the strikes shown on this page are snapped to the nearest listed GPOR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are GPOR 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 GPOR collar priced from the end-of-day chain at a 30-day expiry (ATM IV 34.10%), the computed maximum profit is $748.00 per contract and the computed maximum loss is -$752.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a GPOR collar?
- The breakeven for the GPOR collar priced on this page is roughly $182.52 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 GPOR market-implied 1-standard-deviation expected move is approximately 9.78%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on GPOR?
- Collars on GPOR hedge an existing long GPOR 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 GPOR implied volatility affect this collar?
- GPOR ATM IV is at 34.10% with IV rank near 31.51%, 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.