NAGE Collar Strategy
NAGE (Niagen Bioscience Inc), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Niagen Bioscience Inc is a bioscience company dedicated to healthy aging. The Company leads research on nicotinamide adenine dinucleotide.
NAGE (Niagen Bioscience Inc) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $299.5M, a trailing P/E of 16.12, a beta of 2.17 versus the broader market, a 52-week range of 3.71-14.69, average daily share volume of 1.2M, a public-listing history dating back to 2015, approximately 104 full-time employees. These structural characteristics shape how NAGE stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.17 indicates NAGE 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 NAGE?
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 NAGE snapshot
As of May 15, 2026, spot at $3.65, ATM IV 113.30%, IV rank 19.49%, expected move 32.48%. The collar on NAGE 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 NAGE specifically: IV regime affects collar pricing on both sides; compressed NAGE IV at 113.30% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 32.48% (roughly $1.19 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 NAGE expiries trade a higher absolute premium for lower per-day decay. Position sizing on NAGE should anchor to the underlying notional of $3.65 per share and to the trader's directional view on NAGE stock.
NAGE collar setup
The NAGE 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 NAGE near $3.65, the first option leg uses a $3.83 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NAGE 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 NAGE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $3.65 | long |
| Sell 1 | Call | $3.83 | N/A |
| Buy 1 | Put | $3.47 | N/A |
NAGE 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.
NAGE collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on NAGE. 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 NAGE
Collars on NAGE hedge an existing long NAGE 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.
NAGE thesis for this collar
The market-implied 1-standard-deviation range for NAGE extends from approximately $2.46 on the downside to $4.84 on the upside. A NAGE collar hedges an existing long NAGE 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 NAGE IV rank near 19.49% 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 NAGE at 113.30%. As a Healthcare name, NAGE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NAGE-specific events.
NAGE 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. NAGE positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NAGE alongside the broader basket even when NAGE-specific fundamentals are unchanged. Always rebuild the position from current NAGE chain quotes before placing a trade.
Frequently asked questions
- What is a collar on NAGE?
- A collar on NAGE is the collar strategy applied to NAGE (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 NAGE stock trading near $3.65, the strikes shown on this page are snapped to the nearest listed NAGE chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are NAGE 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 NAGE collar priced from the end-of-day chain at a 30-day expiry (ATM IV 113.30%), 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 NAGE collar?
- The breakeven for the NAGE 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 NAGE market-implied 1-standard-deviation expected move is approximately 32.48%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on NAGE?
- Collars on NAGE hedge an existing long NAGE 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 NAGE implied volatility affect this collar?
- NAGE ATM IV is at 113.30% with IV rank near 19.49%, 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.