ORIO Collar Strategy
ORIO (Orion Digital Corp.), in the Technology sector, (Software - Infrastructure industry), listed on NASDAQ.
Orion Digital Corp. operates as a global financial technology firm, with its reach extending across Canada, Europe, and other international markets. The company is dedicated to empowering its members through digital solutions that pave the way for increased wealth accumulation and financial autonomy. Its suite of offerings includes MogoTrade, a specialized stock trading application; the Moka platform; and MogoMoney, which facilitates online personal loans. Furthermore, Orion Digital Corp. provides digital mortgage and various loan services, and it manages a payment processing infrastructure that supports next-generation card programs for businesses in Europe and Canada. Known previously as Mogo Inc., the entity is scheduled to officially adopt the name Orion Digital Corp. in December 2025. The company's corporate headquarters are situated in Vancouver, Canada.
ORIO (Orion Digital Corp.) trades in the Technology sector, specifically Software - Infrastructure, with a market capitalization of approximately $20.0M, a beta of 2.83 versus the broader market, a 52-week range of 0.61-2.07, average daily share volume of 42K, a public-listing history dating back to 2017, approximately 2K full-time employees. These structural characteristics shape how ORIO stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.83 indicates ORIO has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. ORIO pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on ORIO?
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.
ORIO snapshot
As of August 14, 2026, spot at $0.88, ATM IV 24.10%, IV rank 1.61%, expected move 6.91%. The collar on ORIO below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this collar structure on ORIO specifically: IV regime affects collar pricing on both sides; compressed ORIO IV at 24.10% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 6.91% (roughly $0.06 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ORIO expiries trade a higher absolute premium for lower per-day decay. Position sizing on ORIO should anchor to the underlying notional of $0.88 per share and to the trader's directional view on ORIO stock.
ORIO collar setup
The ORIO 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 ORIO at $0.88 on that close, the first option leg uses a $0.92 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ORIO chain at a 35-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 ORIO shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $0.88 | long |
| Sell 1 | Call | $0.92 | N/A |
| Buy 1 | Put | $0.84 | N/A |
ORIO 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.
ORIO collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on ORIO. 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 ORIO
Collars on ORIO hedge an existing long ORIO 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.
ORIO thesis for this collar
The market-implied 1-standard-deviation range for ORIO extends from approximately $0.82 on the downside to $0.94 on the upside. A ORIO collar hedges an existing long ORIO 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 ORIO IV rank near 1.61% 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 ORIO at 24.10%. As a Technology name, ORIO options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ORIO-specific events.
ORIO 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. ORIO positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ORIO alongside the broader basket even when ORIO-specific fundamentals are unchanged. Always rebuild the position from current ORIO chain quotes before placing a trade.
Frequently asked questions
- What is a collar on ORIO?
- A collar on ORIO is the collar strategy applied to ORIO (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 ORIO stock at $0.88 on the most recent close, the strikes shown on this page are snapped to the nearest listed ORIO chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ORIO 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 ORIO collar priced from the end-of-day chain at a 30-day expiry (ATM IV 24.10%), 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 ORIO collar?
- The breakeven for the ORIO collar priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 ORIO market-implied 1-standard-deviation expected move in the same options snapshot is approximately 6.91%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on ORIO?
- Collars on ORIO hedge an existing long ORIO 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 ORIO implied volatility affect this collar?
- ORIO ATM IV is at 24.10% with IV rank near 1.61%, 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.