STLN Collar Strategy
STLN (Starling Oncology, Inc.), in the Healthcare sector, (Medical - Care Facilities industry), listed on NASDAQ.
Starling Oncology, Inc., formerly The Oncology Institute, is a value-based oncology company advancing cancer care in the community setting. Founded in 2007, the company offers cutting-edge, evidence-based cancer treatments, including clinical trials and transfusions, to a large patient population. It operates as an integrated oncology platform serving patients, providers, and health plans across multiple markets with a focus on delivering high-quality, patient-centered care.
STLN (Starling Oncology, Inc.) trades in the Healthcare sector, specifically Medical - Care Facilities, with a market capitalization of approximately $631.9M, a beta of 0.00 versus the broader market, a 52-week range of 2.32-7.05, average daily share volume of 1.2M, a public-listing history dating back to 2026. These structural characteristics shape how STLN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.00 indicates STLN 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 STLN?
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.
STLN snapshot
As of August 14, 2026, spot at $6.45, ATM IV 76.10%, expected move 21.82%. The collar on STLN below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this collar structure on STLN specifically: IV rank is unavailable in the current snapshot, so regime-based timing for STLN is inferred from ATM IV at 76.10% alone, with a market-implied 1-standard-deviation move of approximately 21.82% (roughly $1.41 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated STLN expiries trade a higher absolute premium for lower per-day decay. Position sizing on STLN should anchor to the underlying notional of $6.45 per share and to the trader's directional view on STLN stock.
STLN collar setup
The STLN 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 STLN at $6.45 on that close, the first option leg uses a $6.77 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed STLN chain at a 35-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 STLN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $6.45 | long |
| Sell 1 | Call | $6.77 | N/A |
| Buy 1 | Put | $6.13 | N/A |
STLN 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.
STLN collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on STLN. 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 STLN
Collars on STLN hedge an existing long STLN 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.
STLN thesis for this collar
The market-implied 1-standard-deviation range for STLN extends from approximately $5.04 on the downside to $7.86 on the upside. A STLN collar hedges an existing long STLN 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 Healthcare name, STLN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to STLN-specific events.
STLN 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. STLN positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move STLN alongside the broader basket even when STLN-specific fundamentals are unchanged. Always rebuild the position from current STLN chain quotes before placing a trade.
Frequently asked questions
- What is a collar on STLN?
- A collar on STLN is the collar strategy applied to STLN (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 STLN stock at $6.45 on the most recent close, the strikes shown on this page are snapped to the nearest listed STLN chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are STLN 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 STLN collar priced from the end-of-day chain at a 30-day expiry (ATM IV 76.10%), 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 STLN collar?
- The breakeven for the STLN collar priced on this page is no defined breakeven on the modeled curve at expiration, derived from the 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 STLN market-implied 1-standard-deviation expected move in the same options snapshot is approximately 21.82%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on STLN?
- Collars on STLN hedge an existing long STLN 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 STLN implied volatility affect this collar?
- Current STLN ATM IV is 76.10%; IV rank context is unavailable in the current snapshot.