OABI Collar Strategy
OABI (OmniAb, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
OmniAb, Inc., a biotechnology company, provides therapeutic antibody discovery technologies in the United States. The company's discovery platform provides industry partners access to the diverse antibody repertoires and screening technologies to enable discovery of next-generation therapeutics. Its OmniAb platform is the biological intelligence of proprietary transgenic animals, including OmniRat, OmniChicken, and OmniMouse that have been genetically modified to generate antibodies with human sequences to facilitate development of human therapeutic candidates. The company's OmniFlic (transgenic rat) and OmniClic (transgenic chicken) address industry needs for bispecific antibody applications though a common light chain approach, and OmniTaur that features unique structural attributes of cow antibodies for complex targets. The company was founded in 2012 and is headquartered in Emeryville, California.
OABI (OmniAb, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $239.4M, a beta of 0.62 versus the broader market, a 52-week range of 1.22-2.295, average daily share volume of 507K, a public-listing history dating back to 2021, approximately 114 full-time employees. These structural characteristics shape how OABI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.62 indicates OABI has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a collar on OABI?
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 OABI snapshot
As of May 15, 2026, spot at $2.19, ATM IV 239.10%, IV rank 46.57%, expected move 68.55%. The collar on OABI 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 OABI specifically: IV regime affects collar pricing on both sides; mid-range OABI IV at 239.10% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 68.55% (roughly $1.50 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 OABI expiries trade a higher absolute premium for lower per-day decay. Position sizing on OABI should anchor to the underlying notional of $2.19 per share and to the trader's directional view on OABI stock.
OABI collar setup
The OABI 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 OABI near $2.19, the first option leg uses a $2.30 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed OABI 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 OABI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $2.19 | long |
| Sell 1 | Call | $2.30 | N/A |
| Buy 1 | Put | $2.08 | N/A |
OABI 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.
OABI collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on OABI. 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 OABI
Collars on OABI hedge an existing long OABI 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.
OABI thesis for this collar
The market-implied 1-standard-deviation range for OABI extends from approximately $0.69 on the downside to $3.69 on the upside. A OABI collar hedges an existing long OABI 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 OABI IV rank near 46.57% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on OABI should anchor more to the directional view and the expected-move geometry. As a Healthcare name, OABI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to OABI-specific events.
OABI 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. OABI positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move OABI alongside the broader basket even when OABI-specific fundamentals are unchanged. Always rebuild the position from current OABI chain quotes before placing a trade.
Frequently asked questions
- What is a collar on OABI?
- A collar on OABI is the collar strategy applied to OABI (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 OABI stock trading near $2.19, the strikes shown on this page are snapped to the nearest listed OABI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are OABI 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 OABI collar priced from the end-of-day chain at a 30-day expiry (ATM IV 239.10%), 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 OABI collar?
- The breakeven for the OABI 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 OABI market-implied 1-standard-deviation expected move is approximately 68.55%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on OABI?
- Collars on OABI hedge an existing long OABI 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 OABI implied volatility affect this collar?
- OABI ATM IV is at 239.10% with IV rank near 46.57%, 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.