MYGN Collar Strategy
MYGN (Myriad Genetics, Inc.), in the Healthcare sector, (Medical - Diagnostics & Research industry), listed on NASDAQ.
Myriad Genetics, Inc., a genetic testing and precision medicine company, develops and commercializes genetic tests in the United States and internationally. The company offers molecular diagnostic tests for use in oncology, and women's and mental health applications. It provides MyRisk Hereditary Cancer Test, a DNA sequencing test for assessing the risks for hereditary cancers; BRACAnalysis CDx Germline Companion Diagnostic Test, a DNA sequencing test to help determine the therapy for patients with metastatic breast, ovarian, metastatic pancreatic, or metastatic prostate cancer with deleterious or suspected deleterious germline BRCA variants; and MyChoice CDx Companion Diagnostic Test, a tumor test that determines homologous recombination deficiency status in patients with ovarian cancer. The company also offers Prolaris Prostate Cancer Prognostic Test, a RNA expression tumor analysis for assessing the aggressiveness of prostate cancer; EndoPredict Breast Cancer Prognostic Test, a RNA expression test for assessing the aggressiveness of breast cancer; Precise Tumor, a solution for precision oncology; and Prequel Prenatal Screen, a non-invasive prenatal screening test conducted using maternal blood to screen for severe chromosomal disorders in a fetus. In addition, it provides Foresight Carrier Screen, a prenatal test for future parents to assess their risk of passing on a recessive genetic condition to their offspring; and GeneSight Psychotropic Mental Health Medication Test, a DNA genotyping test to aid psychotropic drug selection for patients suffering from depression, anxiety, ADHD, and other mental health conditions. Myriad Genetics, Inc. has a strategic collaboration with Illumina, Inc. and Intermountain Precision Genomics for an offering of germline and somatic tumor testing services.
MYGN (Myriad Genetics, Inc.) trades in the Healthcare sector, specifically Medical - Diagnostics & Research, with a market capitalization of approximately $352.3M, a beta of 1.64 versus the broader market, a 52-week range of 3.73-8.59, average daily share volume of 1.9M, a public-listing history dating back to 1995, approximately 3K full-time employees. These structural characteristics shape how MYGN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.64 indicates MYGN 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 MYGN?
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 MYGN snapshot
As of May 15, 2026, spot at $3.59, ATM IV 118.50%, IV rank 30.03%, expected move 33.97%. The collar on MYGN 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 MYGN specifically: IV regime affects collar pricing on both sides; mid-range MYGN IV at 118.50% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 33.97% (roughly $1.22 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 MYGN expiries trade a higher absolute premium for lower per-day decay. Position sizing on MYGN should anchor to the underlying notional of $3.59 per share and to the trader's directional view on MYGN stock.
MYGN collar setup
The MYGN 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 MYGN near $3.59, the first option leg uses a $3.77 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MYGN 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 MYGN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $3.59 | long |
| Sell 1 | Call | $3.77 | N/A |
| Buy 1 | Put | $3.41 | N/A |
MYGN 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.
MYGN collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on MYGN. 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 MYGN
Collars on MYGN hedge an existing long MYGN 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.
MYGN thesis for this collar
The market-implied 1-standard-deviation range for MYGN extends from approximately $2.37 on the downside to $4.81 on the upside. A MYGN collar hedges an existing long MYGN 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 MYGN IV rank near 30.03% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on MYGN should anchor more to the directional view and the expected-move geometry. As a Healthcare name, MYGN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MYGN-specific events.
MYGN 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. MYGN positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MYGN alongside the broader basket even when MYGN-specific fundamentals are unchanged. Always rebuild the position from current MYGN chain quotes before placing a trade.
Frequently asked questions
- What is a collar on MYGN?
- A collar on MYGN is the collar strategy applied to MYGN (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 MYGN stock trading near $3.59, the strikes shown on this page are snapped to the nearest listed MYGN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are MYGN 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 MYGN collar priced from the end-of-day chain at a 30-day expiry (ATM IV 118.50%), 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 MYGN collar?
- The breakeven for the MYGN 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 MYGN market-implied 1-standard-deviation expected move is approximately 33.97%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on MYGN?
- Collars on MYGN hedge an existing long MYGN 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 MYGN implied volatility affect this collar?
- MYGN ATM IV is at 118.50% with IV rank near 30.03%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.