TTMI Collar Strategy
TTMI (TTM Technologies, Inc.), in the Technology sector, (Hardware, Equipment & Parts industry), listed on NASDAQ.
Operating globally, TTM Technologies, Inc. (TTMI) specializes in the production and distribution of printed circuit boards (PCBs). The company's operations are structured into two key segments: Printed Circuit Boards (PCBs) and RF&S Components. Their diverse product line encompasses a wide array of PCB solutions, from conventional and high-density interconnect (HDI) designs to substrate-like (SLP), flexible, and rigid-flex boards, as well as specialized RF and microwave circuits. Additionally, TTM offers integrated circuit (IC) substrates, custom assemblies, system integration products, multi-chip modules, and various RF components, including passive and advanced ceramic types, along with beamforming and switching networks. Furthermore, their capabilities extend to advanced printed circuits incorporating heavy copper cores, embedded or press-fit coins, and sophisticated thermal management features, such as electrically passive heat sinks and active thermal cores. To support clients, the firm provides an array of value-added services, including RF design-to-specification, design for manufacturability (DFM), PCB layout creation, simulation, testing, and expedited turnaround times.
TTMI (TTM Technologies, Inc.) trades in the Technology sector, specifically Hardware, Equipment & Parts, with a market capitalization of approximately $14.34B, a trailing P/E of 60.83, a beta of 2.16 versus the broader market, a 52-week range of 39.2-223.83, average daily share volume of 2.7M, a public-listing history dating back to 2000, approximately 18K full-time employees. These structural characteristics shape how TTMI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.16 indicates TTMI has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 60.83 is on the rich side, which tends to correlate with higher earnings-window IV expansion as the market debates whether forward growth supports the multiple.
What is a collar on TTMI?
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.
TTMI snapshot
As of August 14, 2026, spot at $139.74, ATM IV 84.30%, IV rank 41.80%, expected move 24.17%. The collar on TTMI below is built from the August 14, 2026 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 TTMI specifically: IV regime affects collar pricing on both sides; mid-range TTMI IV at 84.30% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 24.17% (roughly $33.77 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 TTMI expiries trade a higher absolute premium for lower per-day decay. Position sizing on TTMI should anchor to the underlying notional of $139.74 per share and to the trader's directional view on TTMI stock.
TTMI collar setup
The TTMI collar below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With TTMI at $139.74 on that close, the first option leg uses a $145.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed TTMI 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 TTMI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $139.74 | long |
| Sell 1 | Call | $145.00 | $12.20 |
| Buy 1 | Put | $135.00 | $12.05 |
TTMI collar risk and reward
- Net Premium / Debit
- -$13,959.00
- Max Profit (per contract)
- $541.00
- Max Loss (per contract)
- -$459.00
- Breakeven(s)
- $139.59
- Risk / Reward Ratio
- 1.179
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.
TTMI collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on TTMI. 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% | -$459.00 |
| $30.91 | -77.9% | -$459.00 |
| $61.80 | -55.8% | -$459.00 |
| $92.70 | -33.7% | -$459.00 |
| $123.59 | -11.6% | -$459.00 |
| $154.49 | +10.6% | +$541.00 |
| $185.39 | +32.7% | +$541.00 |
| $216.28 | +54.8% | +$541.00 |
| $247.18 | +76.9% | +$541.00 |
| $278.08 | +99.0% | +$541.00 |
When traders use collar on TTMI
Collars on TTMI hedge an existing long TTMI 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.
TTMI thesis for this collar
The market-implied 1-standard-deviation range for TTMI extends from approximately $105.97 on the downside to $173.51 on the upside. A TTMI collar hedges an existing long TTMI 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 TTMI IV rank near 41.80% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on TTMI should anchor more to the directional view and the expected-move geometry. As a Technology name, TTMI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to TTMI-specific events.
TTMI 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. TTMI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move TTMI alongside the broader basket even when TTMI-specific fundamentals are unchanged. Always rebuild the position from current TTMI chain quotes before placing a trade.
Frequently asked questions
- What is a collar on TTMI?
- A collar on TTMI is the collar strategy applied to TTMI (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 TTMI stock at $139.74 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed TTMI chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are TTMI 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 TTMI collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 84.30%), the computed maximum profit is $541.00 per contract and the computed maximum loss is -$459.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a TTMI collar?
- The breakeven for the TTMI collar priced on this page is roughly $139.59 at expiration, derived from the August 14, 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 TTMI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 24.17%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on TTMI?
- Collars on TTMI hedge an existing long TTMI 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 TTMI implied volatility affect this collar?
- TTMI ATM IV is at 84.30% with IV rank near 41.80%, 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.