HSDT Collar Strategy
HSDT (Solana Company), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
Solana Co. is a neurotech company in the medical device industry that focuses on neurological wellness. The firm develops, licenses and acquires non-invasive platform technologies that amplify the brain’s ability to heal itself and reduce symptoms of neurological disease or trauma. It engages in the development of the investigational portable neuromodulation stimulator, that delivers neurostimulation via the tongue which has been shown in clinical studies to enhance the effectiveness of physical exercises in people with neurological symptoms from disease or trauma such as mild-to-moderate traumatic brain injury. The company was founded on March 13, 2014 and is headquartered in Newtown, PA.
HSDT (Solana Company) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $89.1M, a beta of 1.07 versus the broader market, a 52-week range of 1.59-258.5, average daily share volume of 365K, a public-listing history dating back to 2014, approximately 21 full-time employees. These structural characteristics shape how HSDT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.07 places HSDT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a collar on HSDT?
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 HSDT snapshot
As of May 15, 2026, spot at $2.31, ATM IV 110.80%, IV rank 21.28%, expected move 31.77%. The collar on HSDT 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 HSDT specifically: IV regime affects collar pricing on both sides; compressed HSDT IV at 110.80% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 31.77% (roughly $0.73 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 HSDT expiries trade a higher absolute premium for lower per-day decay. Position sizing on HSDT should anchor to the underlying notional of $2.31 per share and to the trader's directional view on HSDT stock.
HSDT collar setup
The HSDT 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 HSDT near $2.31, the first option leg uses a $2.43 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HSDT 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 HSDT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $2.31 | long |
| Sell 1 | Call | $2.43 | N/A |
| Buy 1 | Put | $2.19 | N/A |
HSDT 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.
HSDT collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on HSDT. 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 HSDT
Collars on HSDT hedge an existing long HSDT 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.
HSDT thesis for this collar
The market-implied 1-standard-deviation range for HSDT extends from approximately $1.58 on the downside to $3.04 on the upside. A HSDT collar hedges an existing long HSDT 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 HSDT IV rank near 21.28% 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 HSDT at 110.80%. As a Healthcare name, HSDT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HSDT-specific events.
HSDT 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. HSDT positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HSDT alongside the broader basket even when HSDT-specific fundamentals are unchanged. Always rebuild the position from current HSDT chain quotes before placing a trade.
Frequently asked questions
- What is a collar on HSDT?
- A collar on HSDT is the collar strategy applied to HSDT (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 HSDT stock trading near $2.31, the strikes shown on this page are snapped to the nearest listed HSDT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are HSDT 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 HSDT collar priced from the end-of-day chain at a 30-day expiry (ATM IV 110.80%), 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 HSDT collar?
- The breakeven for the HSDT 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 HSDT market-implied 1-standard-deviation expected move is approximately 31.77%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on HSDT?
- Collars on HSDT hedge an existing long HSDT 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 HSDT implied volatility affect this collar?
- HSDT ATM IV is at 110.80% with IV rank near 21.28%, 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.