TGTX Collar Strategy
TGTX (TG Therapeutics, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Based in New York City and established in 1993, TG Therapeutics, Inc. is a biopharmaceutical company that has advanced to the commercial stage. Its core mission revolves around the acquisition, advancement, and marketing of novel therapeutic solutions. The company's focus areas specifically include B-cell related cancers (malignancies) and various autoimmune disorders. Among its significant investigational therapeutic candidates is Ublituximab, a distinctive glycoengineered monoclonal antibody currently undergoing evaluation. It targets B-cell non-Hodgkin lymphoma, chronic lymphocytic leukemia (CLL), and the relapsing forms of multiple sclerosis. Another compound in its pipeline is Umbralisib, an orally administered inhibitor designed to block PI3K-delta and CK1-epsilon enzymes.
TGTX (TG Therapeutics, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $8.54B, a trailing P/E of 17.91, a beta of 1.66 versus the broader market, a 52-week range of 26.76-59.3, average daily share volume of 2.2M, a public-listing history dating back to 2010, approximately 399 full-time employees. These structural characteristics shape how TGTX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.66 indicates TGTX 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 TGTX?
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.
TGTX snapshot
As of September 29, 2026, spot at $56.11, ATM IV 51.00%, IV rank 13.22%, expected move 14.62%. The collar on TGTX below is built from the September 29, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 52-day expiry.
Why this collar structure on TGTX specifically: IV regime affects collar pricing on both sides; compressed TGTX IV at 51.00% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 14.62% (roughly $8.20 on the underlying). The 52-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated TGTX expiries trade a higher absolute premium for lower per-day decay. Position sizing on TGTX should anchor to the underlying notional of $56.11 per share and to the trader's directional view on TGTX stock.
TGTX collar setup
The TGTX collar below is built from the September 29, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With TGTX at $56.11 on that close, the first option leg uses a $60.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TGTX chain at a 52-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 TGTX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $56.11 | long |
| Sell 1 | Call | $60.00 | $3.65 |
| Buy 1 | Put | $55.00 | $4.25 |
TGTX collar risk and reward
- Net Premium / Debit
- -$5,671.00
- Max Profit (per contract)
- $329.00
- Max Loss (per contract)
- -$171.00
- Breakeven(s)
- $56.71
- Risk / Reward Ratio
- 1.924
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.
TGTX collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on TGTX. 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% | -$171.00 |
| $12.42 | -77.9% | -$171.00 |
| $24.82 | -55.8% | -$171.00 |
| $37.23 | -33.7% | -$171.00 |
| $49.63 | -11.5% | -$171.00 |
| $62.04 | +10.6% | +$329.00 |
| $74.44 | +32.7% | +$329.00 |
| $86.85 | +54.8% | +$329.00 |
| $99.25 | +76.9% | +$329.00 |
| $111.66 | +99.0% | +$329.00 |
When traders use collar on TGTX
Collars on TGTX hedge an existing long TGTX 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.
TGTX thesis for this collar
The market-implied 1-standard-deviation range for TGTX extends from approximately $47.91 on the downside to $64.31 on the upside. A TGTX collar hedges an existing long TGTX 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 TGTX IV rank near 13.22% 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 TGTX at 51.00%. As a Healthcare name, TGTX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TGTX-specific events.
TGTX 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. TGTX positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TGTX alongside the broader basket even when TGTX-specific fundamentals are unchanged. Always rebuild the position from current TGTX chain quotes before placing a trade.
Frequently asked questions
- What is a collar on TGTX?
- A collar on TGTX is the collar strategy applied to TGTX (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 TGTX stock at $56.11 on the September 29, 2026 close, the strikes shown on this page are snapped to the nearest listed TGTX chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are TGTX 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 TGTX collar priced from the September 29, 2026 end-of-day chain at a 30-day expiry (ATM IV 51.00%), the computed maximum profit is $329.00 per contract and the computed maximum loss is -$171.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a TGTX collar?
- The breakeven for the TGTX collar priced on this page is roughly $56.71 at expiration, derived from the September 29, 2026 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 TGTX market-implied 1-standard-deviation expected move in the same options snapshot is approximately 14.62%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on TGTX?
- Collars on TGTX hedge an existing long TGTX 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 TGTX implied volatility affect this collar?
- TGTX ATM IV is at 51.00% with IV rank near 13.22%, 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.