ICFI Collar Strategy
ICFI (ICF International, Inc.), in the Industrials sector, (Consulting Services industry), listed on NASDAQ.
ICF International, Inc. is a prominent global consultancy offering a wide array of management, marketing, technology, and policy advisory and implementation services to both government and commercial entities worldwide. The firm specializes in in-depth research into pivotal policy, industry, and stakeholder matters, alongside analyzing trends and behaviors, subsequently assessing and quantifying the impact of these initiatives. ICF provides strategic guidance to clients, helping them adeptly navigate an array of societal, market, business, communication, and technological obstacles. Their comprehensive services encompass the development and deployment of policies, programs, and business instruments utilizing both standard and bespoke methodologies. This includes conducting extensive survey research, collecting and analyzing diverse datasets to illuminate key issues, and furnishing clients with actionable business intelligence and streamlined data management solutions for integrated usage. Additionally, ICF focuses on optimizing customer and citizen interactions, modernizing information technology systems, and providing formidable cybersecurity measures to safeguard IT infrastructure against evolving threats.
ICFI (ICF International, Inc.) trades in the Industrials sector, specifically Consulting Services, with a market capitalization of approximately $1.62B, a trailing P/E of 18.22, a beta of 0.52 versus the broader market, a 52-week range of 58.83-101.71, average daily share volume of 331K, a public-listing history dating back to 2006, approximately 8K full-time employees. These structural characteristics shape how ICFI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.52 indicates ICFI has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. ICFI pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on ICFI?
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.
ICFI snapshot
As of August 14, 2026, spot at $88.09, ATM IV 39.20%, IV rank 3.70%, expected move 11.24%. The collar on ICFI 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 ICFI specifically: IV regime affects collar pricing on both sides; compressed ICFI IV at 39.20% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 11.24% (roughly $9.90 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 ICFI expiries trade a higher absolute premium for lower per-day decay. Position sizing on ICFI should anchor to the underlying notional of $88.09 per share and to the trader's directional view on ICFI stock.
ICFI collar setup
The ICFI 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 ICFI at $88.09 on that close, the first option leg uses a $90.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ICFI 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 ICFI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $88.09 | long |
| Sell 1 | Call | $90.00 | $2.55 |
| Buy 1 | Put | $85.00 | $3.87 |
ICFI collar risk and reward
- Net Premium / Debit
- -$8,941.00
- Max Profit (per contract)
- $59.00
- Max Loss (per contract)
- -$441.00
- Breakeven(s)
- $89.41
- Risk / Reward Ratio
- 0.134
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.
ICFI collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on ICFI. 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% | -$441.00 |
| $19.49 | -77.9% | -$441.00 |
| $38.96 | -55.8% | -$441.00 |
| $58.44 | -33.7% | -$441.00 |
| $77.91 | -11.6% | -$441.00 |
| $97.39 | +10.6% | +$59.00 |
| $116.87 | +32.7% | +$59.00 |
| $136.34 | +54.8% | +$59.00 |
| $155.82 | +76.9% | +$59.00 |
| $175.29 | +99.0% | +$59.00 |
When traders use collar on ICFI
Collars on ICFI hedge an existing long ICFI 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.
ICFI thesis for this collar
The market-implied 1-standard-deviation range for ICFI extends from approximately $78.19 on the downside to $97.99 on the upside. A ICFI collar hedges an existing long ICFI 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 ICFI IV rank near 3.70% 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 ICFI at 39.20%. As a Industrials name, ICFI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ICFI-specific events.
ICFI 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. ICFI positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ICFI alongside the broader basket even when ICFI-specific fundamentals are unchanged. Always rebuild the position from current ICFI chain quotes before placing a trade.
Frequently asked questions
- What is a collar on ICFI?
- A collar on ICFI is the collar strategy applied to ICFI (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 ICFI stock at $88.09 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed ICFI chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ICFI 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 ICFI collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 39.20%), the computed maximum profit is $59.00 per contract and the computed maximum loss is -$441.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ICFI collar?
- The breakeven for the ICFI collar priced on this page is roughly $89.41 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 ICFI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 11.24%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on ICFI?
- Collars on ICFI hedge an existing long ICFI 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 ICFI implied volatility affect this collar?
- ICFI ATM IV is at 39.20% with IV rank near 3.70%, 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.