HURN Collar Strategy
HURN (Huron Consulting Group Inc.), in the Industrials sector, (Consulting Services industry), listed on NASDAQ.
Huron Consulting Group Inc. provides global professional services in the United States and internationally. It operates through three segments: Healthcare, Education, and Commercial. The company offers financial and operational performance improvement consulting services; digital services; spanning technology and analytic-related services, including enterprise health record, enterprise resource planning, enterprise performance management, customer relationship management, data management, artificial intelligence and automation, technology managed services, and a portfolio of software products; organizational transformation; revenue cycle managed services and outsourcing; financial and capital advisory consulting; and strategy and innovation consulting. It also provides research-focused consulting and managed services, as well as Huron Research product suite, a software suite designed to facilitate and improve research administration service delivery and compliance. In addition, the company offers software products, financial capital advisory services, regulatory compliance and risk management consulting, and Commercial consulting. The company serves healthcare, education, financial services, industrials and manufacturing, energy and utilities, public sector, and other commercial industries.
HURN (Huron Consulting Group Inc.) trades in the Industrials sector, specifically Consulting Services, with a market capitalization of approximately $2.39B, a trailing P/E of 21.08, a beta of 0.07 versus the broader market, a 52-week range of 84.88-186.78, average daily share volume of 301K, a public-listing history dating back to 2004, approximately 9K full-time employees. These structural characteristics shape how HURN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.07 indicates HURN has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a collar on HURN?
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.
HURN snapshot
As of August 14, 2026, spot at $153.58, ATM IV 39.60%, IV rank 4.11%, expected move 11.35%. The collar on HURN below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this collar structure on HURN specifically: IV regime affects collar pricing on both sides; compressed HURN IV at 39.60% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 11.35% (roughly $17.44 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated HURN expiries trade a higher absolute premium for lower per-day decay. Position sizing on HURN should anchor to the underlying notional of $153.58 per share and to the trader's directional view on HURN stock.
HURN collar setup
The HURN collar below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With HURN at $153.58 on that close, the first option leg uses a $160.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HURN chain at a 35-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 HURN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $153.58 | long |
| Sell 1 | Call | $160.00 | $4.90 |
| Buy 1 | Put | $145.00 | $4.05 |
HURN collar risk and reward
- Net Premium / Debit
- -$15,273.00
- Max Profit (per contract)
- $727.00
- Max Loss (per contract)
- -$773.00
- Breakeven(s)
- $152.73
- Risk / Reward Ratio
- 0.940
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.
HURN collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on HURN. 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% | -$773.00 |
| $33.97 | -77.9% | -$773.00 |
| $67.92 | -55.8% | -$773.00 |
| $101.88 | -33.7% | -$773.00 |
| $135.84 | -11.6% | -$773.00 |
| $169.79 | +10.6% | +$727.00 |
| $203.75 | +32.7% | +$727.00 |
| $237.70 | +54.8% | +$727.00 |
| $271.66 | +76.9% | +$727.00 |
| $305.62 | +99.0% | +$727.00 |
When traders use collar on HURN
Collars on HURN hedge an existing long HURN 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.
HURN thesis for this collar
The market-implied 1-standard-deviation range for HURN extends from approximately $136.14 on the downside to $171.02 on the upside. A HURN collar hedges an existing long HURN 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 HURN IV rank near 4.11% 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 HURN at 39.60%. As a Industrials name, HURN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HURN-specific events.
HURN 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. HURN positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HURN alongside the broader basket even when HURN-specific fundamentals are unchanged. Always rebuild the position from current HURN chain quotes before placing a trade.
Frequently asked questions
- What is a collar on HURN?
- A collar on HURN is the collar strategy applied to HURN (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 HURN stock at $153.58 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed HURN chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are HURN 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 HURN collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 39.60%), the computed maximum profit is $727.00 per contract and the computed maximum loss is -$773.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a HURN collar?
- The breakeven for the HURN collar priced on this page is roughly $152.73 at expiration, derived from the August 14, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The HURN market-implied 1-standard-deviation expected move in the same options snapshot is approximately 11.35%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on HURN?
- Collars on HURN hedge an existing long HURN 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 HURN implied volatility affect this collar?
- HURN ATM IV is at 39.60% with IV rank near 4.11%, 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.