RHI Collar Strategy
RHI (Robert Half Inc.), in the Industrials sector, (Staffing & Employment Services industry), listed on NYSE.
Robert Half Inc. provides talent solutions and business consulting services in the United States and internationally. The company operates through three segments: Contract Talent Solutions, Permanent Placement Talent Solutions, and Protiviti. The Contract Talent Solutions segment provides contract engagement professionals in the fields of finance and accounting, technology, marketing and creative, legal and administrative, and customer support. The Permanent Placement Talent Solutions segment engages in the placement of full-time accounting, finance, and tax and accounting operations personnel. The Protiviti segment offers a range of consulting and managed solutions for regulatory compliance, finance, technology, operations, data, digital, legal, HR, governance, risk, and internal audit. The company markets its contract talent and permanent placement services to clients and employment candidates through national and local advertising activities, including radio, digital advertising, job boards, alliance partners, and events.
RHI (Robert Half Inc.) trades in the Industrials sector, specifically Staffing & Employment Services, with a market capitalization of approximately $3.35B, a trailing P/E of 25.22, a beta of 0.82 versus the broader market, a 52-week range of 21.83-43.82, average daily share volume of 2.5M, a public-listing history dating back to 1980, approximately 16K full-time employees. These structural characteristics shape how RHI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.82 places RHI roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. RHI pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on RHI?
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 RHI snapshot
As of June 30, 2026, spot at $30.74, ATM IV 57.00%, IV rank 12.49%, expected move 16.34%. The collar on RHI 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 17-day expiry.
Why this collar structure on RHI specifically: IV regime affects collar pricing on both sides; compressed RHI IV at 57.00% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 16.34% (roughly $5.02 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated RHI expiries trade a higher absolute premium for lower per-day decay. Position sizing on RHI should anchor to the underlying notional of $30.74 per share and to the trader's directional view on RHI stock.
RHI collar setup
The RHI 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 RHI near $30.74, the first option leg uses a $32.28 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed RHI chain at a 17-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 RHI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $30.74 | long |
| Sell 1 | Call | $32.28 | N/A |
| Buy 1 | Put | $29.20 | N/A |
RHI 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.
RHI collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on RHI. 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 RHI
Collars on RHI hedge an existing long RHI 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.
RHI thesis for this collar
The market-implied 1-standard-deviation range for RHI extends from approximately $25.72 on the downside to $35.76 on the upside. A RHI collar hedges an existing long RHI 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 RHI IV rank near 12.49% 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 RHI at 57.00%. As a Industrials name, RHI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to RHI-specific events.
RHI 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. RHI positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move RHI alongside the broader basket even when RHI-specific fundamentals are unchanged. Always rebuild the position from current RHI chain quotes before placing a trade.
Frequently asked questions
- What is a collar on RHI?
- A collar on RHI is the collar strategy applied to RHI (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 RHI stock trading near $30.74, the strikes shown on this page are snapped to the nearest listed RHI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are RHI 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 RHI collar priced from the end-of-day chain at a 30-day expiry (ATM IV 57.00%), 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 RHI collar?
- The breakeven for the RHI 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 RHI market-implied 1-standard-deviation expected move is approximately 16.34%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on RHI?
- Collars on RHI hedge an existing long RHI 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 RHI implied volatility affect this collar?
- RHI ATM IV is at 57.00% with IV rank near 12.49%, 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.