IMXI Collar Strategy
IMXI (International Money Express, Inc.), in the Technology sector, (Software - Infrastructure industry), listed on NASDAQ.
International Money Express, Inc., through its subsidiary, operates as a money remittance services company in the United States, Latin America, Mexico, Africa, Central and South America, and the Caribbean. The company offers remittance services, which include a suite of ancillary financial processing solutions and payment services; and online payment options, pre-paid debit cards, and direct deposit payroll cards. It provides services through sending and paying agents and company-operated stores, as well as through online and Internet-enabled mobile devices. International Money Express, Inc. is headquartered in Miami, Florida.
IMXI (International Money Express, Inc.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $455.9M, a trailing P/E of 17.80, a beta of 0.78 versus the broader market, a 52-week range of 8.58-15.95, average daily share volume of 404K, a public-listing history dating back to 2017, approximately 1K full-time employees. These structural characteristics shape how IMXI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.78 places IMXI roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a collar on IMXI?
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 IMXI snapshot
As of May 15, 2026, spot at $15.32, ATM IV 11.40%, IV rank 3.25%, expected move 3.27%. The collar on IMXI 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 IMXI specifically: IV regime affects collar pricing on both sides; compressed IMXI IV at 11.40% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 3.27% (roughly $0.50 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 IMXI expiries trade a higher absolute premium for lower per-day decay. Position sizing on IMXI should anchor to the underlying notional of $15.32 per share and to the trader's directional view on IMXI stock.
IMXI collar setup
The IMXI 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 IMXI near $15.32, the first option leg uses a $16.09 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed IMXI 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 IMXI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $15.32 | long |
| Sell 1 | Call | $16.09 | N/A |
| Buy 1 | Put | $14.55 | N/A |
IMXI 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.
IMXI collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on IMXI. 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 IMXI
Collars on IMXI hedge an existing long IMXI 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.
IMXI thesis for this collar
The market-implied 1-standard-deviation range for IMXI extends from approximately $14.82 on the downside to $15.82 on the upside. A IMXI collar hedges an existing long IMXI 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 IMXI IV rank near 3.25% 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 IMXI at 11.40%. As a Technology name, IMXI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to IMXI-specific events.
IMXI 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. IMXI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move IMXI alongside the broader basket even when IMXI-specific fundamentals are unchanged. Always rebuild the position from current IMXI chain quotes before placing a trade.
Frequently asked questions
- What is a collar on IMXI?
- A collar on IMXI is the collar strategy applied to IMXI (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 IMXI stock trading near $15.32, the strikes shown on this page are snapped to the nearest listed IMXI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are IMXI 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 IMXI collar priced from the end-of-day chain at a 30-day expiry (ATM IV 11.40%), 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 IMXI collar?
- The breakeven for the IMXI 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 IMXI market-implied 1-standard-deviation expected move is approximately 3.27%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on IMXI?
- Collars on IMXI hedge an existing long IMXI 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 IMXI implied volatility affect this collar?
- IMXI ATM IV is at 11.40% with IV rank near 3.25%, 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.