MIR Collar Strategy
MIR (Mirion Technologies, Inc.), in the Industrials sector, (Industrial - Machinery industry), listed on NYSE.
Mirion Technologies, Inc., established in 2005 and formerly known as Global Monitoring Systems, Inc. until its name change in January 2006, is based in Atlanta, Georgia. The company specializes in providing a comprehensive suite of specialized solutions for radiation detection, measurement, analysis, and monitoring. Its operations span a wide international footprint, covering countries such as the United States, Canada, the United Kingdom, France, Germany, Finland, China, Belgium, the Netherlands, Estonia, and Japan. The business is organized into two distinct operating segments: Medical and Industrial. The Medical segment delivers critical solutions aimed at enhancing patient safety and treatment accuracy within healthcare environments. Offerings here include quality assurance and dosimetry tools for radiation oncology, specialized patient safety systems for diagnostic imaging and radiation therapy centers, and precision calibration and verification solutions for medical imaging and treatment accuracy.
MIR (Mirion Technologies, Inc.) trades in the Industrials sector, specifically Industrial - Machinery, with a market capitalization of approximately $3.70B, a trailing P/E of 151.86, a beta of 1.06 versus the broader market, a 52-week range of 14.11-30.277, average daily share volume of 4.1M, a public-listing history dating back to 2020, approximately 3K full-time employees. These structural characteristics shape how MIR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.06 places MIR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. The trailing P/E of 151.86 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a collar on MIR?
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.
MIR snapshot
As of August 14, 2026, spot at $15.93, ATM IV 46.30%, IV rank 13.53%, expected move 13.27%. The collar on MIR below is built from the 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 MIR specifically: IV regime affects collar pricing on both sides; compressed MIR IV at 46.30% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 13.27% (roughly $2.11 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 MIR expiries trade a higher absolute premium for lower per-day decay. Position sizing on MIR should anchor to the underlying notional of $15.93 per share and to the trader's directional view on MIR stock.
MIR collar setup
The MIR 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 MIR at $15.93 on that close, the first option leg uses a $16.73 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MIR 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 MIR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $15.93 | long |
| Sell 1 | Call | $16.73 | N/A |
| Buy 1 | Put | $15.13 | N/A |
MIR 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.
MIR collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on MIR. 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 MIR
Collars on MIR hedge an existing long MIR 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.
MIR thesis for this collar
The market-implied 1-standard-deviation range for MIR extends from approximately $13.82 on the downside to $18.04 on the upside. A MIR collar hedges an existing long MIR 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 MIR IV rank near 13.53% 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 MIR at 46.30%. As a Industrials name, MIR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MIR-specific events.
MIR 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. MIR positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MIR alongside the broader basket even when MIR-specific fundamentals are unchanged. Always rebuild the position from current MIR chain quotes before placing a trade.
Frequently asked questions
- What is a collar on MIR?
- A collar on MIR is the collar strategy applied to MIR (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 MIR stock at $15.93 on the most recent close, the strikes shown on this page are snapped to the nearest listed MIR chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are MIR 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 MIR collar priced from the end-of-day chain at a 30-day expiry (ATM IV 46.30%), 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 MIR collar?
- The breakeven for the MIR collar priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 MIR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 13.27%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on MIR?
- Collars on MIR hedge an existing long MIR 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 MIR implied volatility affect this collar?
- MIR ATM IV is at 46.30% with IV rank near 13.53%, 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.