NOTV Collar Strategy
NOTV (Inotiv, Inc.), in the Healthcare sector, (Medical - Diagnostics & Research industry), listed on NASDAQ.
Inotiv, Inc. provides drug discovery and development services to the pharmaceutical, chemical, and medical device industries; and sells analytical instruments to the pharmaceutical development and contract research industries. It operates through two segments, Contract Research Services and Research Products. The Contract Research Services segment offers screening and pharmacological testing, nonclinical safety testing, formulation development, regulatory compliance, and quality control testing services. This segment provides analytical method development and validation; drug metabolism, bioanalysis, and pharmacokinetics testing to identify and measure drug and metabolite concentrations in complex biological matrices; in vivo sampling services for the continuous monitoring of chemical changes in life; stability testing to ensure the integrity of various solutions used in nonclinical and clinical studies, and post-study analyses; non-clinical toxicology and pathology services; and climate-controlled archiving services for its customers' data and samples. The Research Products segment designs, develops, manufactures, and markets in vivo sampling systems and accessories, including disposables, training, and systems qualification; physiology monitoring tools; liquid chromatography and electrochemistry instruments platforms; analytical products comprising liquid chromatographic and electrochemical instruments with associated accessories; and in vivo sampling products consisting of Culex family of automated in vivo sampling and dosing instruments. The company operates in the United States, rest of North America, the Pacific Rim, Europe, and internationally.
NOTV (Inotiv, Inc.) trades in the Healthcare sector, specifically Medical - Diagnostics & Research, with a market capitalization of approximately $10.8M, a beta of 3.83 versus the broader market, a 52-week range of 0.22-3.32, average daily share volume of 737K, a public-listing history dating back to 1997, approximately 2K full-time employees. These structural characteristics shape how NOTV stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 3.83 indicates NOTV 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 NOTV?
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 NOTV snapshot
As of May 15, 2026, spot at $0.29, ATM IV 17.50%, IV rank 0.00%, expected move 5.02%. The collar on NOTV 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 NOTV specifically: IV regime affects collar pricing on both sides; compressed NOTV IV at 17.50% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 5.02% (roughly $0.01 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 NOTV expiries trade a higher absolute premium for lower per-day decay. Position sizing on NOTV should anchor to the underlying notional of $0.29 per share and to the trader's directional view on NOTV stock.
NOTV collar setup
The NOTV 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 NOTV near $0.29, the first option leg uses a $0.30 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NOTV 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 NOTV shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $0.29 | long |
| Sell 1 | Call | $0.30 | N/A |
| Buy 1 | Put | $0.28 | N/A |
NOTV 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.
NOTV collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on NOTV. 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 NOTV
Collars on NOTV hedge an existing long NOTV 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.
NOTV thesis for this collar
The market-implied 1-standard-deviation range for NOTV extends from approximately $0.28 on the downside to $0.30 on the upside. A NOTV collar hedges an existing long NOTV 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 NOTV IV rank near 0.00% 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 NOTV at 17.50%. As a Healthcare name, NOTV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NOTV-specific events.
NOTV 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. NOTV positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move NOTV alongside the broader basket even when NOTV-specific fundamentals are unchanged. Always rebuild the position from current NOTV chain quotes before placing a trade.
Frequently asked questions
- What is a collar on NOTV?
- A collar on NOTV is the collar strategy applied to NOTV (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 NOTV stock trading near $0.29, the strikes shown on this page are snapped to the nearest listed NOTV chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are NOTV 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 NOTV collar priced from the end-of-day chain at a 30-day expiry (ATM IV 17.50%), 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 NOTV collar?
- The breakeven for the NOTV 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 NOTV market-implied 1-standard-deviation expected move is approximately 5.02%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on NOTV?
- Collars on NOTV hedge an existing long NOTV 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 NOTV implied volatility affect this collar?
- NOTV ATM IV is at 17.50% with IV rank near 0.00%, 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.