GRDN Collar Strategy
GRDN (Guardian Pharmacy Services, Inc.), in the Healthcare sector, (Medical - Distribution industry), listed on NYSE.
Guardian Pharmacy Services, Inc., a pharmacy service company, provides a suite of technology-enabled services designed to help residents of long-term health care facilities (LTCFs) in the United States. Its individualized clinical, drug dispensing, and administration capabilities are used to serve the needs of residents in lower acuity LTCFs, such as assisted living facilities and behavioral health facilities and group homes. The company's Guardian Compass includes dashboards created using data from its data warehouse to help its local pharmacies plan, track, and optimize their business operations; and GuardianShield Programs for LTCFs. The company was founded in 2003 and is based in Atlanta, Georgia.
GRDN (Guardian Pharmacy Services, Inc.) trades in the Healthcare sector, specifically Medical - Distribution, with a market capitalization of approximately $2.26B, a trailing P/E of 42.56, a beta of 0.09 versus the broader market, a 52-week range of 19.17-41.36, average daily share volume of 447K, a public-listing history dating back to 2016, approximately 3K full-time employees. These structural characteristics shape how GRDN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.09 indicates GRDN 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 42.56 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a collar on GRDN?
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 GRDN snapshot
As of May 15, 2026, spot at $36.30, ATM IV 45.80%, expected move 13.13%. The collar on GRDN 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 GRDN specifically: IV rank is unavailable in the current snapshot, so regime-based timing for GRDN is inferred from ATM IV at 45.80% alone, with a market-implied 1-standard-deviation move of approximately 13.13% (roughly $4.77 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 GRDN expiries trade a higher absolute premium for lower per-day decay. Position sizing on GRDN should anchor to the underlying notional of $36.30 per share and to the trader's directional view on GRDN stock.
GRDN collar setup
The GRDN 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 GRDN near $36.30, the first option leg uses a $38.12 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GRDN 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 GRDN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $36.30 | long |
| Sell 1 | Call | $38.12 | N/A |
| Buy 1 | Put | $34.48 | N/A |
GRDN 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.
GRDN collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on GRDN. 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 GRDN
Collars on GRDN hedge an existing long GRDN 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.
GRDN thesis for this collar
The market-implied 1-standard-deviation range for GRDN extends from approximately $31.53 on the downside to $41.07 on the upside. A GRDN collar hedges an existing long GRDN 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. As a Healthcare name, GRDN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GRDN-specific events.
GRDN 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. GRDN positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move GRDN alongside the broader basket even when GRDN-specific fundamentals are unchanged. Always rebuild the position from current GRDN chain quotes before placing a trade.
Frequently asked questions
- What is a collar on GRDN?
- A collar on GRDN is the collar strategy applied to GRDN (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 GRDN stock trading near $36.30, the strikes shown on this page are snapped to the nearest listed GRDN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are GRDN 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 GRDN collar priced from the end-of-day chain at a 30-day expiry (ATM IV 45.80%), 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 GRDN collar?
- The breakeven for the GRDN 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 GRDN market-implied 1-standard-deviation expected move is approximately 13.13%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on GRDN?
- Collars on GRDN hedge an existing long GRDN 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 GRDN implied volatility affect this collar?
- Current GRDN ATM IV is 45.80%; IV rank context is unavailable in the current snapshot.