IDYA Collar Strategy
IDYA (IDEAYA Biosciences, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
IDEAYA Biosciences, Inc. is a precision oncology company primarily dedicated to identifying and advancing targeted therapies, particularly leveraging the concept of synthetic lethality. The firm aims to develop specific treatments for patient groups selected through molecular diagnostic methods. At the forefront of its clinical efforts are two investigational drugs. IDE397, a methionine adenosyltransferase 2a (MAT2A) blocking agent, is currently in early-stage (Phase I) trials for solid tumors exhibiting methylthioadenosine phosphorylase (MTAP) deletions. Its second primary candidate, IDE196, a protein kinase C (PKC) inhibitor, is progressing through Phase I/II studies, targeting genetically defined cancers characterized by GNAQ or GNA11 gene mutations. Beyond its clinical pipeline, IDEAYA's earlier-stage portfolio includes several synthetic lethality programs.
IDYA (IDEAYA Biosciences, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $3.51B, a beta of -0.09 versus the broader market, a 52-week range of 23.23-40.58, average daily share volume of 1.2M, a public-listing history dating back to 2019, approximately 145 full-time employees. These structural characteristics shape how IDYA stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.09 indicates IDYA 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 IDYA?
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.
IDYA snapshot
As of August 14, 2026, spot at $36.47, ATM IV 47.40%, IV rank 6.71%, expected move 13.59%. The collar on IDYA below is built from the 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 IDYA specifically: IV regime affects collar pricing on both sides; compressed IDYA IV at 47.40% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 13.59% (roughly $4.96 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 IDYA expiries trade a higher absolute premium for lower per-day decay. Position sizing on IDYA should anchor to the underlying notional of $36.47 per share and to the trader's directional view on IDYA stock.
IDYA collar setup
The IDYA 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 IDYA at $36.47 on that close, the first option leg uses a $38.29 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed IDYA 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 IDYA shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $36.47 | long |
| Sell 1 | Call | $38.29 | N/A |
| Buy 1 | Put | $34.65 | N/A |
IDYA 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.
IDYA collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on IDYA. 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 IDYA
Collars on IDYA hedge an existing long IDYA 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.
IDYA thesis for this collar
The market-implied 1-standard-deviation range for IDYA extends from approximately $31.51 on the downside to $41.43 on the upside. A IDYA collar hedges an existing long IDYA 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 IDYA IV rank near 6.71% 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 IDYA at 47.40%. As a Healthcare name, IDYA options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to IDYA-specific events.
IDYA 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. IDYA positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move IDYA alongside the broader basket even when IDYA-specific fundamentals are unchanged. Always rebuild the position from current IDYA chain quotes before placing a trade.
Frequently asked questions
- What is a collar on IDYA?
- A collar on IDYA is the collar strategy applied to IDYA (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 IDYA stock at $36.47 on the most recent close, the strikes shown on this page are snapped to the nearest listed IDYA chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are IDYA 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 IDYA collar priced from the end-of-day chain at a 30-day expiry (ATM IV 47.40%), 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 IDYA collar?
- The breakeven for the IDYA collar priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 IDYA market-implied 1-standard-deviation expected move in the same options snapshot is approximately 13.59%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on IDYA?
- Collars on IDYA hedge an existing long IDYA 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 IDYA implied volatility affect this collar?
- IDYA ATM IV is at 47.40% with IV rank near 6.71%, 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.