How are GTM 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 GTM collar priced from the end-of-day chain at a 30-day expiry (ATM IV 48.51%), the computed maximum profit is $23.50 per contract and the computed maximum loss is -$26.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a GTM collar?

The breakeven for the GTM collar priced on this page is roughly $3.77 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 GTM market-implied 1-standard-deviation expected move is approximately 13.91%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current GTM implied volatility affect this collar?

GTM ATM IV is at 48.51% with IV rank near 26.53%, 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.

GTM Collar Strategy

GTM (ZoomInfo Technologies Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.

ZoomInfo Technologies Inc., together with its subsidiaries, provides go-to-market intelligence and engagement platform for sales, marketing, operations, and recruiting professionals in the United States and internationally. The company's cloud-based platform provides workflow tools and information on organizations and professionals to help users identify target customers and decision makers, obtain continually updated predictive lead and company scoring, monitor buying signals and other attributes of target companies, craft messages, engage through automated sales tools, and track progress through the deal cycle. Its paid products include ZoomInfo Copilot, ZoomInfo Sales, ZoomInfo Marketing, ZoomInfo Operations, and ZoomInfo Talent, as well as ZoomInfo Lite. The company serves enterprises, mid-market companies, and down to small businesses that operate in various industry, including software, business services, manufacturing, telecommunications, financial services, media and internet, transportation, education, hospitality, and real estate. ZoomInfo Technologies Inc. was founded in 2007 and is headquartered in Vancouver, Washington.

GTM (ZoomInfo Technologies Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $1.21B, a trailing P/E of 10.08, a beta of 1.04 versus the broader market, a 52-week range of 3.85-12.51, average daily share volume of 10.7M, a public-listing history dating back to 2020, approximately 4K full-time employees. These structural characteristics shape how GTM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.04 places GTM roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 10.08 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 GTM?

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 GTM snapshot

As of May 15, 2026, spot at $3.84, ATM IV 48.51%, IV rank 26.53%, expected move 13.91%. The collar on GTM 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 14-day expiry.

Why this collar structure on GTM specifically: IV regime affects collar pricing on both sides; compressed GTM IV at 48.51% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 13.91% (roughly $0.53 on the underlying). The 14-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated GTM expiries trade a higher absolute premium for lower per-day decay. Position sizing on GTM should anchor to the underlying notional of $3.84 per share and to the trader's directional view on GTM stock.

GTM collar setup

The GTM 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 GTM near $3.84, the first option leg uses a $4.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed GTM chain at a 14-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 GTM shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$3.84	long
Sell 1	Call	$4.00	$0.15
Buy 1	Put	$3.50	$0.08

GTM collar risk and reward

Net Premium / Debit: -$376.50
Max Profit (per contract): $23.50
Max Loss (per contract): -$26.50
Breakeven(s): $3.77
Risk / Reward Ratio: 0.887

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.

GTM collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on GTM. 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	-99.7%	-$26.50
$0.86	-77.7%	-$26.50
$1.71	-55.6%	-$26.50
$2.55	-33.5%	-$26.50
$3.40	-11.4%	-$26.50
$4.25	+10.7%	+$23.50
$5.10	+32.8%	+$23.50
$5.95	+54.8%	+$23.50
$6.79	+76.9%	+$23.50
$7.64	+99.0%	+$23.50

When traders use collar on GTM

Collars on GTM hedge an existing long GTM 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.

GTM thesis for this collar

The market-implied 1-standard-deviation range for GTM extends from approximately $3.31 on the downside to $4.37 on the upside. A GTM collar hedges an existing long GTM 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 GTM IV rank near 26.53% 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 GTM at 48.51%. As a Technology name, GTM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to GTM-specific events.

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

Frequently asked questions

What is a collar on GTM?: A collar on GTM is the collar strategy applied to GTM (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 GTM stock trading near $3.84, the strikes shown on this page are snapped to the nearest listed GTM chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are GTM 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 GTM collar priced from the end-of-day chain at a 30-day expiry (ATM IV 48.51%), the computed maximum profit is $23.50 per contract and the computed maximum loss is -$26.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a GTM collar?: The breakeven for the GTM collar priced on this page is roughly $3.77 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 GTM market-implied 1-standard-deviation expected move is approximately 13.91%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on GTM?: Collars on GTM hedge an existing long GTM 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 GTM implied volatility affect this collar?: GTM ATM IV is at 48.51% with IV rank near 26.53%, 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.