LIND Collar Strategy
LIND (Lindblad Expeditions Holdings, Inc.), in the Consumer Cyclical sector, (Travel Services industry), listed on NASDAQ.
Lindblad Expeditions Holdings, Inc. provides expedition cruising and land-based adventure travel experiences. The company delivers voyages through a fleet of ten owned expedition ships and five seasonal charter vessels under the Lindblad brand; and operates eco-conscious expeditions and nature focused small-group tours under the Natural Habitat brand. The company also provides luxury cycling and adventure tours worldwide under the DuVine name; active small group and private custom journeys throughout the United States national park under the Off the Beaten Path brand name; and curated active small group and private custom journeys that are centered around cinematic walks led by the local guides under the Classic Journeys name. The company has a strategic alliance with the National Geographic Society. Lindblad Expeditions Holdings, Inc. was founded in 1979 and is headquartered in New York, New York.
LIND (Lindblad Expeditions Holdings, Inc.) trades in the Consumer Cyclical sector, specifically Travel Services, with a market capitalization of approximately $1.04B, a beta of 2.22 versus the broader market, a 52-week range of 9.85-22.34, average daily share volume of 768K, a public-listing history dating back to 2013, approximately 1K full-time employees. These structural characteristics shape how LIND stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.22 indicates LIND has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a collar on LIND?
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 LIND snapshot
As of May 15, 2026, spot at $18.72, ATM IV 42.30%, IV rank 5.61%, expected move 12.13%. The collar on LIND 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 LIND specifically: IV regime affects collar pricing on both sides; compressed LIND IV at 42.30% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 12.13% (roughly $2.27 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 LIND expiries trade a higher absolute premium for lower per-day decay. Position sizing on LIND should anchor to the underlying notional of $18.72 per share and to the trader's directional view on LIND stock.
LIND collar setup
The LIND 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 LIND near $18.72, the first option leg uses a $19.66 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed LIND 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 LIND shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $18.72 | long |
| Sell 1 | Call | $19.66 | N/A |
| Buy 1 | Put | $17.78 | N/A |
LIND 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.
LIND collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on LIND. 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 LIND
Collars on LIND hedge an existing long LIND 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.
LIND thesis for this collar
The market-implied 1-standard-deviation range for LIND extends from approximately $16.45 on the downside to $20.99 on the upside. A LIND collar hedges an existing long LIND 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 LIND IV rank near 5.61% 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 LIND at 42.30%. As a Consumer Cyclical name, LIND options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to LIND-specific events.
LIND 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. LIND positions also carry Consumer Cyclical sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move LIND alongside the broader basket even when LIND-specific fundamentals are unchanged. Always rebuild the position from current LIND chain quotes before placing a trade.
Frequently asked questions
- What is a collar on LIND?
- A collar on LIND is the collar strategy applied to LIND (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 LIND stock trading near $18.72, the strikes shown on this page are snapped to the nearest listed LIND chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are LIND 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 LIND collar priced from the end-of-day chain at a 30-day expiry (ATM IV 42.30%), 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 LIND collar?
- The breakeven for the LIND 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 LIND market-implied 1-standard-deviation expected move is approximately 12.13%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on LIND?
- Collars on LIND hedge an existing long LIND 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 LIND implied volatility affect this collar?
- LIND ATM IV is at 42.30% with IV rank near 5.61%, 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.