How are INBX 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 INBX collar priced from the end-of-day chain at a 30-day expiry (ATM IV 81.10%), the computed maximum profit is $554.00 per contract and the computed maximum loss is -$446.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a INBX collar?

The breakeven for the INBX collar priced on this page is roughly $94.46 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 INBX market-implied 1-standard-deviation expected move is approximately 23.25%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current INBX implied volatility affect this collar?

INBX ATM IV is at 81.10% with IV rank near 6.24%, 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.

INBX Collar Strategy

INBX (Inhibrx Biosciences Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.

Inhibrx Biosciences, Inc. is a clinical-stage biopharmaceutical company, which includes a pipeline of novel biologic therapeutic candidates, developed using proprietary modular protein engineering platforms. Its clinical pipeline of therapeutic candidates includes INBRX-109 and INBRX-106, both of which utilize multivalent formats where the precise valency can be optimized in a target-centric way to mediate what is believed to be the most appropriate agonist function. The company was founded by Brendan P. Eckelman on January 8, 2024 and is headquartered in La Jolla, CA.

INBX (Inhibrx Biosciences Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $1.39B, a beta of 3.32 versus the broader market, a 52-week range of 13.97-155.29, average daily share volume of 446K, a public-listing history dating back to 2024, approximately 109 full-time employees. These structural characteristics shape how INBX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 3.32 indicates INBX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. INBX pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a collar on INBX?

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 INBX snapshot

As of June 30, 2026, spot at $94.31, ATM IV 81.10%, IV rank 6.24%, expected move 23.25%. The collar on INBX 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 17-day expiry.

Why this collar structure on INBX specifically: IV regime affects collar pricing on both sides; compressed INBX IV at 81.10% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 23.25% (roughly $21.93 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated INBX expiries trade a higher absolute premium for lower per-day decay. Position sizing on INBX should anchor to the underlying notional of $94.31 per share and to the trader's directional view on INBX stock.

INBX collar setup

The INBX 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 INBX near $94.31, the first option leg uses a $100.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed INBX chain at a 17-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 INBX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$94.31	long
Sell 1	Call	$100.00	$5.05
Buy 1	Put	$90.00	$5.20

INBX collar risk and reward

Net Premium / Debit: -$9,446.00
Max Profit (per contract): $554.00
Max Loss (per contract): -$446.00
Breakeven(s): $94.46
Risk / Reward Ratio: 1.242

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.

INBX collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on INBX. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$446.00
$20.86	-77.9%	-$446.00
$41.71	-55.8%	-$446.00
$62.56	-33.7%	-$446.00
$83.42	-11.6%	-$446.00
$104.27	+10.6%	+$554.00
$125.12	+32.7%	+$554.00
$145.97	+54.8%	+$554.00
$166.82	+76.9%	+$554.00
$187.67	+99.0%	+$554.00

When traders use collar on INBX

Collars on INBX hedge an existing long INBX 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.

INBX thesis for this collar

The market-implied 1-standard-deviation range for INBX extends from approximately $72.38 on the downside to $116.24 on the upside. A INBX collar hedges an existing long INBX 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 INBX IV rank near 6.24% 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 INBX at 81.10%. As a Healthcare name, INBX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to INBX-specific events.

INBX 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. INBX positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move INBX alongside the broader basket even when INBX-specific fundamentals are unchanged. Always rebuild the position from current INBX chain quotes before placing a trade.

Frequently asked questions

What is a collar on INBX?: A collar on INBX is the collar strategy applied to INBX (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 INBX stock trading near $94.31, the strikes shown on this page are snapped to the nearest listed INBX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are INBX 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 INBX collar priced from the end-of-day chain at a 30-day expiry (ATM IV 81.10%), the computed maximum profit is $554.00 per contract and the computed maximum loss is -$446.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a INBX collar?: The breakeven for the INBX collar priced on this page is roughly $94.46 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 INBX market-implied 1-standard-deviation expected move is approximately 23.25%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on INBX?: Collars on INBX hedge an existing long INBX 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 INBX implied volatility affect this collar?: INBX ATM IV is at 81.10% with IV rank near 6.24%, 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.