PCOR Collar Strategy
PCOR (Procore Technologies, Inc.), in the Technology sector, (Software - Application industry), listed on NYSE.
Procore Technologies, Inc. delivers a comprehensive, cloud-based platform designed for construction management, along with accompanying software solutions, serving clients both in the United States and globally. This platform empowers a diverse range of stakeholders, including property owners, general and specialty contractors, architects, and engineers, to collaborate seamlessly throughout their construction projects. The company's offerings are structured into several key modules: Preconstruction: This module facilitates streamlined collaboration among internal and external parties during the initial project phases, such as planning, budgeting, estimating, bidding, and selecting partners. Project Management: It enables real-time teamwork, secure information storage, design coordination, BIM model clash detection, and regulatory compliance for both jobsite personnel and back-office teams. Resource Management: This tool assists contractors in scheduling, monitoring, and forecasting labor productivity, improving time management, enhancing workforce communication, and optimizing project profitability. Financial Management: It provides customers with detailed visibility into the fiscal health of individual construction projects and their entire portfolios, ensuring unfettered, real-time access to financial data that bridges the gap between field operations and the main office.
PCOR (Procore Technologies, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $7.80B, a beta of 0.75 versus the broader market, a 52-week range of 38.03-82.32, average daily share volume of 3.1M, a public-listing history dating back to 2021, approximately 4K full-time employees. These structural characteristics shape how PCOR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.75 places PCOR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a collar on PCOR?
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.
PCOR snapshot
As of September 30, 2026, spot at $51.80, ATM IV 51.10%, IV rank 7.07%, expected move 14.65%. The collar on PCOR below is built from the September 30, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 16-day expiry.
Why this collar structure on PCOR specifically: IV regime affects collar pricing on both sides; compressed PCOR IV at 51.10% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 14.65% (roughly $7.59 on the underlying). The 16-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated PCOR expiries trade a higher absolute premium for lower per-day decay. Position sizing on PCOR should anchor to the underlying notional of $51.80 per share and to the trader's directional view on PCOR stock.
PCOR collar setup
The PCOR collar below is built from the September 30, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With PCOR at $51.80 on that close, the first option leg uses a $55.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed PCOR chain at a 16-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 PCOR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $51.80 | long |
| Sell 1 | Call | $55.00 | $0.95 |
| Buy 1 | Put | $50.00 | $1.73 |
PCOR collar risk and reward
- Net Premium / Debit
- -$5,257.50
- Max Profit (per contract)
- $242.50
- Max Loss (per contract)
- -$257.50
- Breakeven(s)
- $52.57
- Risk / Reward Ratio
- 0.942
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.
PCOR collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on PCOR. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | -$257.50 |
| $11.46 | -77.9% | -$257.50 |
| $22.91 | -55.8% | -$257.50 |
| $34.37 | -33.7% | -$257.50 |
| $45.82 | -11.5% | -$257.50 |
| $57.27 | +10.6% | +$242.50 |
| $68.72 | +32.7% | +$242.50 |
| $80.18 | +54.8% | +$242.50 |
| $91.63 | +76.9% | +$242.50 |
| $103.08 | +99.0% | +$242.50 |
When traders use collar on PCOR
Collars on PCOR hedge an existing long PCOR 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.
PCOR thesis for this collar
The market-implied 1-standard-deviation range for PCOR extends from approximately $44.21 on the downside to $59.39 on the upside. A PCOR collar hedges an existing long PCOR 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 PCOR IV rank near 7.07% 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 PCOR at 51.10%. As a Technology name, PCOR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to PCOR-specific events.
PCOR 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. PCOR positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move PCOR alongside the broader basket even when PCOR-specific fundamentals are unchanged. Always rebuild the position from current PCOR chain quotes before placing a trade.
Frequently asked questions
- What is a collar on PCOR?
- A collar on PCOR is the collar strategy applied to PCOR (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 PCOR stock at $51.80 on the September 30, 2026 close, the strikes shown on this page are snapped to the nearest listed PCOR chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are PCOR 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 PCOR collar priced from the September 30, 2026 end-of-day chain at a 30-day expiry (ATM IV 51.10%), the computed maximum profit is $242.50 per contract and the computed maximum loss is -$257.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a PCOR collar?
- The breakeven for the PCOR collar priced on this page is roughly $52.57 at expiration, derived from the September 30, 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 PCOR market-implied 1-standard-deviation expected move in the same options snapshot is approximately 14.65%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on PCOR?
- Collars on PCOR hedge an existing long PCOR 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 PCOR implied volatility affect this collar?
- PCOR ATM IV is at 51.10% with IV rank near 7.07%, 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.