SYBT Collar Strategy
SYBT (Stock Yards Bancorp, Inc.), in the Financial Services sector, (Banks - Regional industry), listed on NASDAQ.
Stock Yards Bancorp, Inc. serves as the parent company for Stock Yards Bank & Trust Company, providing a comprehensive range of financial solutions to individuals, businesses, and other clients across the United States. Its operations are divided into two main segments: Commercial Banking and Wealth Management & Trust (WM&T). The Commercial Banking segment offers services such as mortgage and deposit accounts, a variety of lending options including retail, commercial, and commercial real estate loans, alongside online and mobile banking, private banking, leasing, treasury management, merchant services, international banking, and correspondent banking. This segment also arranges for securities brokerage services through an agreement with an independent broker-dealer. The WM&T division specializes in investment management, financial and retirement planning, trust and estate administration, and managing retirement plans for businesses and corporations. Founded in 1904, Stock Yards Bancorp, Inc. is headquartered in Louisville, Kentucky, and operates 73 full-service banking centers across Louisville and the central, eastern, and northern regions of Kentucky, as well as in the Indianapolis, Indiana, and Cincinnati, Ohio metropolitan areas.
SYBT (Stock Yards Bancorp, Inc.) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $2.25B, a trailing P/E of 15.63, a beta of 0.70 versus the broader market, a 52-week range of 61.51-83.83, average daily share volume of 189K, a public-listing history dating back to 1993, approximately 1K full-time employees. These structural characteristics shape how SYBT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.70 places SYBT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. SYBT pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on SYBT?
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 SYBT snapshot
As of June 29, 2026, spot at $75.74, ATM IV 331.20%, IV rank 66.60%, expected move 94.95%. The collar on SYBT 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 18-day expiry.
Why this collar structure on SYBT specifically: IV regime affects collar pricing on both sides; mid-range SYBT IV at 331.20% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 94.95% (roughly $71.92 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SYBT expiries trade a higher absolute premium for lower per-day decay. Position sizing on SYBT should anchor to the underlying notional of $75.74 per share and to the trader's directional view on SYBT stock.
SYBT collar setup
The SYBT 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 SYBT near $75.74, the first option leg uses a $79.53 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SYBT chain at a 18-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 SYBT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $75.74 | long |
| Sell 1 | Call | $79.53 | N/A |
| Buy 1 | Put | $71.95 | N/A |
SYBT 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.
SYBT collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on SYBT. 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 SYBT
Collars on SYBT hedge an existing long SYBT 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.
SYBT thesis for this collar
The market-implied 1-standard-deviation range for SYBT extends from approximately $3.82 on the downside to $147.66 on the upside. A SYBT collar hedges an existing long SYBT 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 SYBT IV rank near 66.60% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on SYBT should anchor more to the directional view and the expected-move geometry. As a Financial Services name, SYBT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SYBT-specific events.
SYBT 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. SYBT positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SYBT alongside the broader basket even when SYBT-specific fundamentals are unchanged. Always rebuild the position from current SYBT chain quotes before placing a trade.
Frequently asked questions
- What is a collar on SYBT?
- A collar on SYBT is the collar strategy applied to SYBT (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 SYBT stock trading near $75.74, the strikes shown on this page are snapped to the nearest listed SYBT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SYBT 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 SYBT collar priced from the end-of-day chain at a 30-day expiry (ATM IV 331.20%), 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 SYBT collar?
- The breakeven for the SYBT 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 SYBT market-implied 1-standard-deviation expected move is approximately 94.95%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on SYBT?
- Collars on SYBT hedge an existing long SYBT 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 SYBT implied volatility affect this collar?
- SYBT ATM IV is at 331.20% with IV rank near 66.60%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.