SSNC Collar Strategy
SSNC (SS&C Technologies Holdings, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
SS&C Technologies Holdings, Inc., together with its subsidiaries, provides software products and software-enabled services to financial services and healthcare industries. The company owns and operates technology stack across securities accounting; front-office functions, such as trading and modeling; middle-office functions include portfolio management and reporting; back-office functions, such as accounting, performance measurement, reconciliation, reporting, processing and clearing, and compliance and tax reporting; and healthcare solutions comprising claims adjudication, benefit management, care management, and business intelligence solutions. Its products and services allow professionals in the financial services and healthcare industries to automate complex business processes and are instrumental in helping its clients to manage information processing requirements. The company's software-enabled services include SS&C GlobeOp, Global Investor and Distribution Solutions, SS&C Retirement Solutions, Black Diamond Wealth Platform, Bluedoor, Advent Outsourcing Services, Advent Data Solutions, ALPS Advisors, and Virtual Data Rooms, as well as pharmacy, healthcare administration, and health outcomes optimization solutions. Its software products comprise portfolio/investment accounting and analytics software, portfolio management software, trading software, digital process automation product suite, and banking and lending solutions, as well as research, analytics, risk, and training solutions. The company also provides professional services, including consulting and implementation services to assist clients; and product support services.
SSNC (SS&C Technologies Holdings, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $15.60B, a trailing P/E of 19.31, a beta of 1.12 versus the broader market, a 52-week range of 64.6-91.07, average daily share volume of 2.6M, a public-listing history dating back to 2010, approximately 27K full-time employees. These structural characteristics shape how SSNC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.12 places SSNC roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. SSNC pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on SSNC?
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 SSNC snapshot
As of May 15, 2026, spot at $64.86, ATM IV 33.60%, IV rank 7.39%, expected move 9.63%. The collar on SSNC 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 217-day expiry.
Why this collar structure on SSNC specifically: IV regime affects collar pricing on both sides; compressed SSNC IV at 33.60% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 9.63% (roughly $6.25 on the underlying). The 217-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SSNC expiries trade a higher absolute premium for lower per-day decay. Position sizing on SSNC should anchor to the underlying notional of $64.86 per share and to the trader's directional view on SSNC stock.
SSNC collar setup
The SSNC 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 SSNC near $64.86, the first option leg uses a $70.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SSNC chain at a 217-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 SSNC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $64.86 | long |
| Sell 1 | Call | $70.00 | $5.20 |
| Buy 1 | Put | $60.00 | $4.08 |
SSNC collar risk and reward
- Net Premium / Debit
- -$6,373.50
- Max Profit (per contract)
- $626.50
- Max Loss (per contract)
- -$373.50
- Breakeven(s)
- $63.74
- Risk / Reward Ratio
- 1.677
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.
SSNC collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on SSNC. 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% | -$373.50 |
| $14.35 | -77.9% | -$373.50 |
| $28.69 | -55.8% | -$373.50 |
| $43.03 | -33.7% | -$373.50 |
| $57.37 | -11.5% | -$373.50 |
| $71.71 | +10.6% | +$626.50 |
| $86.05 | +32.7% | +$626.50 |
| $100.39 | +54.8% | +$626.50 |
| $114.73 | +76.9% | +$626.50 |
| $129.07 | +99.0% | +$626.50 |
When traders use collar on SSNC
Collars on SSNC hedge an existing long SSNC 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.
SSNC thesis for this collar
The market-implied 1-standard-deviation range for SSNC extends from approximately $58.61 on the downside to $71.11 on the upside. A SSNC collar hedges an existing long SSNC 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 SSNC IV rank near 7.39% 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 SSNC at 33.60%. As a Technology name, SSNC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SSNC-specific events.
SSNC 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. SSNC positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SSNC alongside the broader basket even when SSNC-specific fundamentals are unchanged. Always rebuild the position from current SSNC chain quotes before placing a trade.
Frequently asked questions
- What is a collar on SSNC?
- A collar on SSNC is the collar strategy applied to SSNC (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 SSNC stock trading near $64.86, the strikes shown on this page are snapped to the nearest listed SSNC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SSNC 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 SSNC collar priced from the end-of-day chain at a 30-day expiry (ATM IV 33.60%), the computed maximum profit is $626.50 per contract and the computed maximum loss is -$373.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a SSNC collar?
- The breakeven for the SSNC collar priced on this page is roughly $63.74 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 SSNC market-implied 1-standard-deviation expected move is approximately 9.63%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on SSNC?
- Collars on SSNC hedge an existing long SSNC 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 SSNC implied volatility affect this collar?
- SSNC ATM IV is at 33.60% with IV rank near 7.39%, 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.