TTAN Collar Strategy
TTAN (ServiceTitan, Inc.), in the Technology sector, (Software - Application industry), listed on NASDAQ.
ServiceTitan, Inc. engages in the collection of field service activities required to install, maintain, and service the infrastructure and systems of residences and commercial buildings. The company was founded by Ara Mahdessian and Vahe Kuzoyan on June 8, 2008 and is headquartered in Glendale, CA.
TTAN (ServiceTitan, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $5.35B, a beta of -0.23 versus the broader market, a 52-week range of 54.17-131.33, average daily share volume of 1.2M, a public-listing history dating back to 2024, approximately 3K full-time employees. These structural characteristics shape how TTAN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.23 indicates TTAN 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 TTAN?
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 TTAN snapshot
As of May 15, 2026, spot at $58.70, ATM IV 73.80%, IV rank 51.34%, expected move 21.16%. The collar on TTAN 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 63-day expiry.
Why this collar structure on TTAN specifically: IV regime affects collar pricing on both sides; mid-range TTAN IV at 73.80% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 21.16% (roughly $12.42 on the underlying). The 63-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated TTAN expiries trade a higher absolute premium for lower per-day decay. Position sizing on TTAN should anchor to the underlying notional of $58.70 per share and to the trader's directional view on TTAN stock.
TTAN collar setup
The TTAN 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 TTAN near $58.70, 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 TTAN chain at a 63-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 TTAN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $58.70 | long |
| Sell 1 | Call | $60.00 | $6.40 |
| Buy 1 | Put | $55.00 | $4.90 |
TTAN collar risk and reward
- Net Premium / Debit
- -$5,720.00
- Max Profit (per contract)
- $280.00
- Max Loss (per contract)
- -$220.00
- Breakeven(s)
- $57.20
- Risk / Reward Ratio
- 1.273
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.
TTAN collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on TTAN. 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% | -$220.00 |
| $12.99 | -77.9% | -$220.00 |
| $25.97 | -55.8% | -$220.00 |
| $38.94 | -33.7% | -$220.00 |
| $51.92 | -11.5% | -$220.00 |
| $64.90 | +10.6% | +$280.00 |
| $77.88 | +32.7% | +$280.00 |
| $90.85 | +54.8% | +$280.00 |
| $103.83 | +76.9% | +$280.00 |
| $116.81 | +99.0% | +$280.00 |
When traders use collar on TTAN
Collars on TTAN hedge an existing long TTAN 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.
TTAN thesis for this collar
The market-implied 1-standard-deviation range for TTAN extends from approximately $46.28 on the downside to $71.12 on the upside. A TTAN collar hedges an existing long TTAN 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 TTAN IV rank near 51.34% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on TTAN should anchor more to the directional view and the expected-move geometry. As a Technology name, TTAN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TTAN-specific events.
TTAN 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. TTAN positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TTAN alongside the broader basket even when TTAN-specific fundamentals are unchanged. Always rebuild the position from current TTAN chain quotes before placing a trade.
Frequently asked questions
- What is a collar on TTAN?
- A collar on TTAN is the collar strategy applied to TTAN (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 TTAN stock trading near $58.70, the strikes shown on this page are snapped to the nearest listed TTAN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are TTAN 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 TTAN collar priced from the end-of-day chain at a 30-day expiry (ATM IV 73.80%), the computed maximum profit is $280.00 per contract and the computed maximum loss is -$220.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a TTAN collar?
- The breakeven for the TTAN collar priced on this page is roughly $57.20 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 TTAN market-implied 1-standard-deviation expected move is approximately 21.16%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on TTAN?
- Collars on TTAN hedge an existing long TTAN 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 TTAN implied volatility affect this collar?
- TTAN ATM IV is at 73.80% with IV rank near 51.34%, 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.