TSSI Collar Strategy
TSSI (TSS, Inc.), in the Technology sector, (Information Technology Services industry), listed on NASDAQ.
TSS, Inc., headquartered in Round Rock, Texas, and founded in 2004 (originally as Fortress International Group, Inc. until its name change in June 2013), delivers comprehensive lifecycle services for crucial end-user and enterprise systems across the United States. Organized into Facilities and Systems Integration divisions, the company provides a unified resource for essential technologies in environments such as data centers, operational hubs, network facilities, server rooms, security operations centers, communication infrastructures, and broader infrastructure systems. Their extensive offerings include technology consulting, engineering and design, project oversight, system integration and installation, facility management, and IT procurement and resale services. TSS serves a diverse client base, including IT original equipment manufacturers, technology and service providers, private sector enterprises, and both governmental and commercial end-users.
TSSI (TSS, Inc.) trades in the Technology sector, specifically Information Technology Services, with a market capitalization of approximately $317.8M, a trailing P/E of 18.36, a beta of 2.00 versus the broader market, a 52-week range of 6.87-31.72, average daily share volume of 1.6M, a public-listing history dating back to 2005, approximately 161 full-time employees. These structural characteristics shape how TSSI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.00 indicates TSSI 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 TSSI?
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 TSSI snapshot
As of June 29, 2026, spot at $12.17, ATM IV 95.20%, IV rank 15.01%, expected move 27.29%. The collar on TSSI 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 TSSI specifically: IV regime affects collar pricing on both sides; compressed TSSI IV at 95.20% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 27.29% (roughly $3.32 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 TSSI expiries trade a higher absolute premium for lower per-day decay. Position sizing on TSSI should anchor to the underlying notional of $12.17 per share and to the trader's directional view on TSSI stock.
TSSI collar setup
The TSSI 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 TSSI near $12.17, the first option leg uses a $12.78 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TSSI 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 TSSI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $12.17 | long |
| Sell 1 | Call | $12.78 | N/A |
| Buy 1 | Put | $11.56 | N/A |
TSSI 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.
TSSI collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on TSSI. 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 TSSI
Collars on TSSI hedge an existing long TSSI 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.
TSSI thesis for this collar
The market-implied 1-standard-deviation range for TSSI extends from approximately $8.85 on the downside to $15.49 on the upside. A TSSI collar hedges an existing long TSSI 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 TSSI IV rank near 15.01% 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 TSSI at 95.20%. As a Technology name, TSSI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TSSI-specific events.
TSSI 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. TSSI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TSSI alongside the broader basket even when TSSI-specific fundamentals are unchanged. Always rebuild the position from current TSSI chain quotes before placing a trade.
Frequently asked questions
- What is a collar on TSSI?
- A collar on TSSI is the collar strategy applied to TSSI (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 TSSI stock trading near $12.17, the strikes shown on this page are snapped to the nearest listed TSSI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are TSSI 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 TSSI collar priced from the end-of-day chain at a 30-day expiry (ATM IV 95.20%), 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 TSSI collar?
- The breakeven for the TSSI 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 TSSI market-implied 1-standard-deviation expected move is approximately 27.29%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on TSSI?
- Collars on TSSI hedge an existing long TSSI 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 TSSI implied volatility affect this collar?
- TSSI ATM IV is at 95.20% with IV rank near 15.01%, 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.