How are SOFI 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 SOFI collar priced from the end-of-day chain at a 30-day expiry (ATM IV 52.38%), the computed maximum profit is $83.00 per contract and the computed maximum loss is -$67.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a SOFI collar?

The breakeven for the SOFI collar priced on this page is roughly $15.67 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 SOFI market-implied 1-standard-deviation expected move is approximately 15.02%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current SOFI implied volatility affect this collar?

SOFI ATM IV is at 52.38% with IV rank near 12.25%, 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.

SOFI Collar Strategy

SOFI (SoFi Technologies, Inc.), in the Financial Services sector, (Financial - Credit Services industry), listed on NASDAQ.

SoFi Technologies, Inc. provides digital financial services. It operates through three segments: Lending, Technology Platform, and Financial Services. The company's lending and financial services and products allows its members to borrow, save, spend, invest, and protect their money. It offers student loans; personal loans for debt consolidation and home improvement projects; and home loans. The company also provides cash management, investment, and technology services. In addition, it operates Galileo, a technology platform that offers services to financial and non-financial institutions; and Apex, a technology enabled platform that provides investment custody and clearing brokerage services, as well as Technisys, a cloud-based digital multi-product core banking platform.

SOFI (SoFi Technologies, Inc.) trades in the Financial Services sector, specifically Financial - Credit Services, with a market capitalization of approximately $19.64B, a trailing P/E of 33.87, a beta of 2.13 versus the broader market, a 52-week range of 12.74-32.73, average daily share volume of 66.4M, a public-listing history dating back to 2021, approximately 5K full-time employees. These structural characteristics shape how SOFI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 2.13 indicates SOFI 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 SOFI?

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 SOFI snapshot

As of May 15, 2026, spot at $15.66, ATM IV 52.38%, IV rank 12.25%, expected move 15.02%. The collar on SOFI 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 28-day expiry.

Why this collar structure on SOFI specifically: IV regime affects collar pricing on both sides; compressed SOFI IV at 52.38% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 15.02% (roughly $2.35 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 SOFI expiries trade a higher absolute premium for lower per-day decay. Position sizing on SOFI should anchor to the underlying notional of $15.66 per share and to the trader's directional view on SOFI stock.

SOFI collar setup

The SOFI 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 SOFI near $15.66, the first option leg uses a $16.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SOFI 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 SOFI shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$15.66	long
Sell 1	Call	$16.50	$0.57
Buy 1	Put	$15.00	$0.58

SOFI collar risk and reward

Net Premium / Debit: -$1,567.00
Max Profit (per contract): $83.00
Max Loss (per contract): -$67.00
Breakeven(s): $15.67
Risk / Reward Ratio: 1.239

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.

SOFI collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on SOFI. 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	-99.9%	-$67.00
$3.47	-77.8%	-$67.00
$6.93	-55.7%	-$67.00
$10.39	-33.6%	-$67.00
$13.86	-11.5%	-$67.00
$17.32	+10.6%	+$83.00
$20.78	+32.7%	+$83.00
$24.24	+54.8%	+$83.00
$27.70	+76.9%	+$83.00
$31.16	+99.0%	+$83.00

When traders use collar on SOFI

Collars on SOFI hedge an existing long SOFI 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.

SOFI thesis for this collar

The market-implied 1-standard-deviation range for SOFI extends from approximately $13.31 on the downside to $18.01 on the upside. A SOFI collar hedges an existing long SOFI 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 SOFI IV rank near 12.25% 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 SOFI at 52.38%. As a Financial Services name, SOFI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SOFI-specific events.

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

Frequently asked questions

What is a collar on SOFI?: A collar on SOFI is the collar strategy applied to SOFI (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 SOFI stock trading near $15.66, the strikes shown on this page are snapped to the nearest listed SOFI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are SOFI 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 SOFI collar priced from the end-of-day chain at a 30-day expiry (ATM IV 52.38%), the computed maximum profit is $83.00 per contract and the computed maximum loss is -$67.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a SOFI collar?: The breakeven for the SOFI collar priced on this page is roughly $15.67 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 SOFI market-implied 1-standard-deviation expected move is approximately 15.02%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on SOFI?: Collars on SOFI hedge an existing long SOFI 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 SOFI implied volatility affect this collar?: SOFI ATM IV is at 52.38% with IV rank near 12.25%, 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.