GPRK Collar Strategy
GPRK (GeoPark Limited), in the Energy sector, (Oil & Gas Exploration & Production industry), listed on NYSE.
GeoPark Limited engages in the exploration, development, and production of oil and gas reserves in Chile, Colombia, Brazil, Argentina, and Ecuador. As of December 31, 2021, the company had working and/or economic interests in 42 hydrocarbons blocks. It had net proved reserves of 87.8 million barrels of oil equivalent. GeoPark Limited has a strategic partnership with ONGC Videsh to jointly acquire, invest in, and create value from upstream oil and gas projects across Latin America. The company was formerly known as GeoPark Holdings Limited and changed its name to GeoPark Limited in July 2013. GeoPark Limited was founded in 2002 and is based in Bogotá, Colombia.
GPRK (GeoPark Limited) trades in the Energy sector, specifically Oil & Gas Exploration & Production, with a market capitalization of approximately $507.9M, a trailing P/E of 9.47, a beta of 0.33 versus the broader market, a 52-week range of 5.75-10.34, average daily share volume of 1.0M, a public-listing history dating back to 2010, approximately 476 full-time employees. These structural characteristics shape how GPRK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.33 indicates GPRK 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 9.47 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price. GPRK pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on GPRK?
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 GPRK snapshot
As of May 15, 2026, spot at $9.61, ATM IV 55.10%, IV rank 17.88%, expected move 15.80%. The collar on GPRK 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 GPRK specifically: IV regime affects collar pricing on both sides; compressed GPRK IV at 55.10% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 15.80% (roughly $1.52 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 GPRK expiries trade a higher absolute premium for lower per-day decay. Position sizing on GPRK should anchor to the underlying notional of $9.61 per share and to the trader's directional view on GPRK stock.
GPRK collar setup
The GPRK 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 GPRK near $9.61, the first option leg uses a $10.09 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GPRK 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 GPRK shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $9.61 | long |
| Sell 1 | Call | $10.09 | N/A |
| Buy 1 | Put | $9.13 | N/A |
GPRK 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.
GPRK collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on GPRK. 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 GPRK
Collars on GPRK hedge an existing long GPRK 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.
GPRK thesis for this collar
The market-implied 1-standard-deviation range for GPRK extends from approximately $8.09 on the downside to $11.13 on the upside. A GPRK collar hedges an existing long GPRK 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 GPRK IV rank near 17.88% 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 GPRK at 55.10%. As a Energy name, GPRK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GPRK-specific events.
GPRK 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. GPRK positions also carry Energy sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GPRK alongside the broader basket even when GPRK-specific fundamentals are unchanged. Always rebuild the position from current GPRK chain quotes before placing a trade.
Frequently asked questions
- What is a collar on GPRK?
- A collar on GPRK is the collar strategy applied to GPRK (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 GPRK stock trading near $9.61, the strikes shown on this page are snapped to the nearest listed GPRK chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are GPRK 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 GPRK collar priced from the end-of-day chain at a 30-day expiry (ATM IV 55.10%), 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 GPRK collar?
- The breakeven for the GPRK 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 GPRK market-implied 1-standard-deviation expected move is approximately 15.80%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on GPRK?
- Collars on GPRK hedge an existing long GPRK 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 GPRK implied volatility affect this collar?
- GPRK ATM IV is at 55.10% with IV rank near 17.88%, 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.