SMX Collar Strategy
SMX (SMX (Security Matters) Public Limited Company), in the Industrials sector, (Specialty Business Services industry), listed on NASDAQ.
SMX (Security Matters) Public Limited Company offers cutting-edge technological solutions for brand safeguarding, product verification, and supply chain transparency, primarily serving the global anti-counterfeiting industry. At the heart of its offerings is a unique marking system that can embed either permanent or removable identifiers directly onto materials or items, regardless of whether they are solid, liquid, or gaseous. The company's complete solution integrates these physical or chemical markers with a specialized reader, all connected to a secure blockchain-powered digital platform. This suite of capabilities supports applications such as process traceability, authentication, and initiatives within sustainability and circular economics. SMX provides its services to a broad client base, including brand owners, manufacturers, and various suppliers. The company, which changed its name from Empatan Public Limited Company in February 2023, is headquartered in Dublin, Ireland.
SMX (SMX (Security Matters) Public Limited Company) trades in the Industrials sector, specifically Specialty Business Services, with a market capitalization of approximately $880,107, a beta of -3.20 versus the broader market, a 52-week range of 2.3341-5496.4775, average daily share volume of 1.1M, a public-listing history dating back to 2021, approximately 17 full-time employees. These structural characteristics shape how SMX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -3.20 indicates SMX 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 SMX?
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 SMX snapshot
As of June 29, 2026, spot at $14.71, ATM IV 286.20%, expected move 82.05%. The collar on SMX 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 53-day expiry.
Why this collar structure on SMX specifically: IV rank is unavailable in the current snapshot, so regime-based timing for SMX is inferred from ATM IV at 286.20% alone, with a market-implied 1-standard-deviation move of approximately 82.05% (roughly $12.07 on the underlying). The 53-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SMX expiries trade a higher absolute premium for lower per-day decay. Position sizing on SMX should anchor to the underlying notional of $14.71 per share and to the trader's directional view on SMX stock.
SMX collar setup
The SMX 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 SMX near $14.71, the first option leg uses a $15.45 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SMX chain at a 53-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 SMX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $14.71 | long |
| Sell 1 | Call | $15.45 | N/A |
| Buy 1 | Put | $13.97 | N/A |
SMX 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.
SMX collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on SMX. 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 SMX
Collars on SMX hedge an existing long SMX 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.
SMX thesis for this collar
The market-implied 1-standard-deviation range for SMX extends from approximately $2.64 on the downside to $26.78 on the upside. A SMX collar hedges an existing long SMX 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. As a Industrials name, SMX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SMX-specific events.
SMX 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. SMX positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SMX alongside the broader basket even when SMX-specific fundamentals are unchanged. Always rebuild the position from current SMX chain quotes before placing a trade.
Frequently asked questions
- What is a collar on SMX?
- A collar on SMX is the collar strategy applied to SMX (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 SMX stock trading near $14.71, the strikes shown on this page are snapped to the nearest listed SMX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SMX 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 SMX collar priced from the end-of-day chain at a 30-day expiry (ATM IV 286.20%), 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 SMX collar?
- The breakeven for the SMX 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 SMX market-implied 1-standard-deviation expected move is approximately 82.05%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on SMX?
- Collars on SMX hedge an existing long SMX 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 SMX implied volatility affect this collar?
- Current SMX ATM IV is 286.20%; IV rank context is unavailable in the current snapshot.