HYPR Collar Strategy
HYPR (Hyperfine, Inc.), in the Healthcare sector, (Medical - Devices industry), listed on NASDAQ.
Hyperfine, Inc. provides imaging, monitoring, and magnetic resonance imaging products. It offers Swoop Portable MR imaging system to address an unmet need in point-of-care medical imaging through a combination of hardware and software services. The company was incorporated in 2014 and is based in Guilford, Connecticut.
HYPR (Hyperfine, Inc.) trades in the Healthcare sector, specifically Medical - Devices, with a market capitalization of approximately $129.9M, a beta of 1.42 versus the broader market, a 52-week range of 0.533-2.22, average daily share volume of 571K, a public-listing history dating back to 2021, approximately 111 full-time employees. These structural characteristics shape how HYPR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.42 indicates HYPR has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a collar on HYPR?
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 HYPR snapshot
As of May 15, 2026, spot at $1.56, ATM IV 22.90%, IV rank 0.46%, expected move 6.57%. The collar on HYPR 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 HYPR specifically: IV regime affects collar pricing on both sides; compressed HYPR IV at 22.90% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 6.57% (roughly $0.10 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 HYPR expiries trade a higher absolute premium for lower per-day decay. Position sizing on HYPR should anchor to the underlying notional of $1.56 per share and to the trader's directional view on HYPR stock.
HYPR collar setup
The HYPR 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 HYPR near $1.56, the first option leg uses a $1.64 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HYPR 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 HYPR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $1.56 | long |
| Sell 1 | Call | $1.64 | N/A |
| Buy 1 | Put | $1.48 | N/A |
HYPR 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.
HYPR collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on HYPR. 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 HYPR
Collars on HYPR hedge an existing long HYPR 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.
HYPR thesis for this collar
The market-implied 1-standard-deviation range for HYPR extends from approximately $1.46 on the downside to $1.66 on the upside. A HYPR collar hedges an existing long HYPR 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 HYPR IV rank near 0.46% 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 HYPR at 22.90%. As a Healthcare name, HYPR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HYPR-specific events.
HYPR 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. HYPR positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HYPR alongside the broader basket even when HYPR-specific fundamentals are unchanged. Always rebuild the position from current HYPR chain quotes before placing a trade.
Frequently asked questions
- What is a collar on HYPR?
- A collar on HYPR is the collar strategy applied to HYPR (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 HYPR stock trading near $1.56, the strikes shown on this page are snapped to the nearest listed HYPR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are HYPR 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 HYPR collar priced from the end-of-day chain at a 30-day expiry (ATM IV 22.90%), 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 HYPR collar?
- The breakeven for the HYPR 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 HYPR market-implied 1-standard-deviation expected move is approximately 6.57%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on HYPR?
- Collars on HYPR hedge an existing long HYPR 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 HYPR implied volatility affect this collar?
- HYPR ATM IV is at 22.90% with IV rank near 0.46%, 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.