INCR Collar Strategy
INCR (InterCure Ltd.), in the Healthcare sector, (Drug Manufacturers - Specialty & Generic industry), listed on NASDAQ.
InterCure Ltd., together with its subsidiaries, engages in the research, cultivation, production, marketing, and distribution of medical cannabis products in Israel and internationally. It offers dried cannabis inflorescences and cannabis extract mixed with oil. The company also invests in biomed sector. InterCure Ltd. was incorporated in 1994 and is headquartered in Herzliya, Israel.
INCR (InterCure Ltd.) trades in the Healthcare sector, specifically Drug Manufacturers - Specialty & Generic, with a market capitalization of approximately $44.8M, a beta of 1.11 versus the broader market, a 52-week range of 0.68-1.77, average daily share volume of 40K, a public-listing history dating back to 2019, approximately 320 full-time employees. These structural characteristics shape how INCR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.11 places INCR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a collar on INCR?
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 INCR snapshot
As of May 15, 2026, spot at $0.84, ATM IV 27.00%, IV rank 1.98%, expected move 7.74%. The collar on INCR 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 INCR specifically: IV regime affects collar pricing on both sides; compressed INCR IV at 27.00% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 7.74% (roughly $0.07 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 INCR expiries trade a higher absolute premium for lower per-day decay. Position sizing on INCR should anchor to the underlying notional of $0.84 per share and to the trader's directional view on INCR stock.
INCR collar setup
The INCR 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 INCR near $0.84, the first option leg uses a $0.88 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed INCR 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 INCR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $0.84 | long |
| Sell 1 | Call | $0.88 | N/A |
| Buy 1 | Put | $0.80 | N/A |
INCR 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.
INCR collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on INCR. 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 INCR
Collars on INCR hedge an existing long INCR 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.
INCR thesis for this collar
The market-implied 1-standard-deviation range for INCR extends from approximately $0.77 on the downside to $0.91 on the upside. A INCR collar hedges an existing long INCR 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 INCR IV rank near 1.98% 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 INCR at 27.00%. As a Healthcare name, INCR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to INCR-specific events.
INCR 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. INCR positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move INCR alongside the broader basket even when INCR-specific fundamentals are unchanged. Always rebuild the position from current INCR chain quotes before placing a trade.
Frequently asked questions
- What is a collar on INCR?
- A collar on INCR is the collar strategy applied to INCR (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 INCR stock trading near $0.84, the strikes shown on this page are snapped to the nearest listed INCR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are INCR 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 INCR collar priced from the end-of-day chain at a 30-day expiry (ATM IV 27.00%), 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 INCR collar?
- The breakeven for the INCR 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 INCR market-implied 1-standard-deviation expected move is approximately 7.74%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on INCR?
- Collars on INCR hedge an existing long INCR 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 INCR implied volatility affect this collar?
- INCR ATM IV is at 27.00% with IV rank near 1.98%, 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.