How are ODD 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 ODD collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 123.94%), the computed maximum profit is $58.50 per contract and the computed maximum loss is -$41.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ODD collar?

The breakeven for the ODD collar priced on this page is roughly $13.42 at expiration, derived from the August 14, 2026 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 ODD market-implied 1-standard-deviation expected move in the same options snapshot is approximately 35.53%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current ODD implied volatility affect this collar?

ODD ATM IV is at 123.94% with IV rank near 91.80%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.

ODD Collar Strategy

ODD (Oddity Tech Ltd.), in the Consumer Defensive sector, (Household & Personal Products industry), listed on NASDAQ.

Operating globally, Oddity Tech Ltd. and its affiliated companies function as a consumer technology enterprise. It delivers beauty and wellness merchandise, leveraging its proprietary PowerMatch technology. The firm's strategic focus is on developing and growing digitally native brands, aiming to revolutionize the traditionally brick-and-mortar beauty and wellness sectors. Its product portfolio features items for the face, complexion, eyes, brows, lips, and general skincare, marketed under the IL MAKIAGE label. Additionally, the SpoiledChild brand specializes in hair and skin care solutions. Founded in 2013, this corporation maintains its headquarters in Tel Aviv-Jaffa, Israel.

ODD (Oddity Tech Ltd.) trades in the Consumer Defensive sector, specifically Household & Personal Products, with a market capitalization of approximately $735.3M, a trailing P/E of 14.09, a beta of 2.38 versus the broader market, a 52-week range of 9.25-64.23, average daily share volume of 1.4M, a public-listing history dating back to 2023, approximately 658 full-time employees. These structural characteristics shape how ODD stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.38 indicates ODD 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 ODD?

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.

ODD snapshot

As of August 14, 2026, spot at $13.34, ATM IV 123.94%, IV rank 91.80%, expected move 35.53%. The collar on ODD below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 28-day expiry.

Why this collar structure on ODD specifically: IV regime affects collar pricing on both sides; elevated ODD IV at 123.94% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 35.53% (roughly $4.74 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ODD expiries trade a higher absolute premium for lower per-day decay. Position sizing on ODD should anchor to the underlying notional of $13.34 per share and to the trader's directional view on ODD stock.

ODD collar setup

The ODD collar below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ODD at $13.34 on that close, the first option leg uses a $14.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ODD chain at a 28-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 ODD shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$13.34	long
Sell 1	Call	$14.00	$1.55
Buy 1	Put	$13.00	$1.63

ODD collar risk and reward

Net Premium / Debit: -$1,341.50
Max Profit (per contract): $58.50
Max Loss (per contract): -$41.50
Breakeven(s): $13.42
Risk / Reward Ratio: 1.410

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.

ODD collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on ODD. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-99.9%	-$41.50
$2.96	-77.8%	-$41.50
$5.91	-55.7%	-$41.50
$8.86	-33.6%	-$41.50
$11.80	-11.5%	-$41.50
$14.75	+10.6%	+$58.50
$17.70	+32.7%	+$58.50
$20.65	+54.8%	+$58.50
$23.60	+76.9%	+$58.50
$26.55	+99.0%	+$58.50

When traders use collar on ODD

Collars on ODD hedge an existing long ODD 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.

ODD thesis for this collar

The market-implied 1-standard-deviation range for ODD extends from approximately $8.60 on the downside to $18.08 on the upside. A ODD collar hedges an existing long ODD 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 ODD IV rank near 91.80% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on ODD at 123.94%. As a Consumer Defensive name, ODD options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ODD-specific events.

ODD 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. ODD positions also carry Consumer Defensive sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ODD alongside the broader basket even when ODD-specific fundamentals are unchanged. Always rebuild the position from current ODD chain quotes before placing a trade.

Frequently asked questions

What is a collar on ODD?: A collar on ODD is the collar strategy applied to ODD (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 ODD stock at $13.34 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed ODD chain strike and the premiums come straight from that session's bid/ask midpoint.
How are ODD 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 ODD collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 123.94%), the computed maximum profit is $58.50 per contract and the computed maximum loss is -$41.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ODD collar?: The breakeven for the ODD collar priced on this page is roughly $13.42 at expiration, derived from the August 14, 2026 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 ODD market-implied 1-standard-deviation expected move in the same options snapshot is approximately 35.53%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on ODD?: Collars on ODD hedge an existing long ODD 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 ODD implied volatility affect this collar?: ODD ATM IV is at 123.94% with IV rank near 91.80%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.