MATX Collar Strategy
MATX (Matson, Inc.), in the Industrials sector, (Marine Shipping industry), listed on NYSE.
Matson, Inc. specializes in providing integrated ocean transportation and logistics solutions. Its Ocean Transportation segment offers crucial ocean freight services connecting the domestic non-contiguous economies of Hawaii, Alaska, and Guam, alongside other island nations within Micronesia. Their diverse cargo includes everything from refrigerated foodstuffs, packaged consumer goods, building materials, and automobiles to livestock, seafood, general sustenance, and a wide array of retail and e-commerce merchandise. Additionally, the company operates an expedited express service facilitating trade between China and Long Beach, California, extending its reach to various South Pacific islands and Okinawa, Japan. Beyond direct shipping, this segment manages comprehensive terminal operations, including container stevedoring, refrigerated cargo handling, inland transport, and container equipment maintenance across key locations in Hawaii (Oahu, Hawaii, Maui, and Kauai) and Alaska (Anchorage, Kodiak, and Dutch Harbor). They also offer vessel management and container transshipment services.
MATX (Matson, Inc.) trades in the Industrials sector, specifically Marine Shipping, with a market capitalization of approximately $6.49B, a trailing P/E of 13.92, a beta of 1.28 versus the broader market, a 52-week range of 86.97-230.74, average daily share volume of 278K, a public-listing history dating back to 1973, approximately 4K full-time employees. These structural characteristics shape how MATX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.28 places MATX roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. MATX pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on MATX?
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.
MATX snapshot
As of August 14, 2026, spot at $216.61, ATM IV 31.60%, IV rank 8.74%, expected move 9.06%. The collar on MATX below is built from the August 14, 2026 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 MATX specifically: IV regime affects collar pricing on both sides; compressed MATX IV at 31.60% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 9.06% (roughly $19.62 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 MATX expiries trade a higher absolute premium for lower per-day decay. Position sizing on MATX should anchor to the underlying notional of $216.61 per share and to the trader's directional view on MATX stock.
MATX collar setup
The MATX collar below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With MATX at $216.61 on that close, the first option leg uses a $230.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MATX 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 MATX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $216.61 | long |
| Sell 1 | Call | $230.00 | $3.95 |
| Buy 1 | Put | $210.00 | $5.70 |
MATX collar risk and reward
- Net Premium / Debit
- -$21,836.00
- Max Profit (per contract)
- $1,164.00
- Max Loss (per contract)
- -$836.00
- Breakeven(s)
- $218.36
- Risk / Reward Ratio
- 1.392
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.
MATX collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on MATX. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | -$836.00 |
| $47.90 | -77.9% | -$836.00 |
| $95.80 | -55.8% | -$836.00 |
| $143.69 | -33.7% | -$836.00 |
| $191.58 | -11.6% | -$836.00 |
| $239.47 | +10.6% | +$1,164.00 |
| $287.37 | +32.7% | +$1,164.00 |
| $335.26 | +54.8% | +$1,164.00 |
| $383.15 | +76.9% | +$1,164.00 |
| $431.04 | +99.0% | +$1,164.00 |
When traders use collar on MATX
Collars on MATX hedge an existing long MATX 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.
MATX thesis for this collar
The market-implied 1-standard-deviation range for MATX extends from approximately $196.99 on the downside to $236.23 on the upside. A MATX collar hedges an existing long MATX 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 MATX IV rank near 8.74% 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 MATX at 31.60%. As a Industrials name, MATX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MATX-specific events.
MATX 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. MATX positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MATX alongside the broader basket even when MATX-specific fundamentals are unchanged. Always rebuild the position from current MATX chain quotes before placing a trade.
Frequently asked questions
- What is a collar on MATX?
- A collar on MATX is the collar strategy applied to MATX (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 MATX stock at $216.61 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed MATX chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are MATX 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 MATX collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 31.60%), the computed maximum profit is $1,164.00 per contract and the computed maximum loss is -$836.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a MATX collar?
- The breakeven for the MATX collar priced on this page is roughly $218.36 at expiration, derived from the August 14, 2026 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 MATX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 9.06%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on MATX?
- Collars on MATX hedge an existing long MATX 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 MATX implied volatility affect this collar?
- MATX ATM IV is at 31.60% with IV rank near 8.74%, 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.