TTMI Collar Strategy
TTMI (TTM Technologies, Inc.), in the Technology sector, (Hardware, Equipment & Parts industry), listed on NASDAQ.
TTM Technologies, Inc., together with its subsidiaries, engages in the manufacture and sale of printed circuit boards (PCBs) worldwide. The company operates in two segments, PCB and RF&S Components. It offers PCB products, radio frequency (RF) components, conventional PCBs, RF and microwave circuits, high density interconnect PCBs, substrate-like PCBs, flexible PCBs, rigid-flex PCBs, custom assemblies and system integration products, IC substrates, passive RF components, advanced ceramic RF components, multi-chip modules, and beamforming and switching networks. The company also produces printed circuits with heavy copper cores, as well as embedded and press-fit coins; PCBs with electrically passive heat sinks; and PCBs with electrically active thermal cores. In addition, it offers value-added services, including RF design to specification capability, design for manufacturability, PCB layout design, simulation and testing, and quick turnaround services. The company serves original equipment manufacturers and electronic manufacturing services companies that primarily serve aerospace and defense, data center computing, automotive components, medical, industrial, and instrumentation related products sectors.
TTMI (TTM Technologies, Inc.) trades in the Technology sector, specifically Hardware, Equipment & Parts, with a market capitalization of approximately $17.53B, a trailing P/E of 89.77, a beta of 2.11 versus the broader market, a 52-week range of 28.12-180, average daily share volume of 2.0M, a public-listing history dating back to 2000, approximately 16K 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 2.11 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 89.77 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.
Current TTMI snapshot
As of May 15, 2026, spot at $167.77, ATM IV 85.80%, IV rank 73.40%, expected move 24.60%. The collar on TTMI 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 34-day expiry.
Why this collar structure on TTMI specifically: IV regime affects collar pricing on both sides; elevated TTMI IV at 85.80% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 24.60% (roughly $41.27 on the underlying). The 34-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 $167.77 per share and to the trader's directional view on TTMI stock.
TTMI collar setup
The TTMI 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 TTMI near $167.77, the first option leg uses a $175.00 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 34-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 | $167.77 | long |
| Sell 1 | Call | $175.00 | $14.60 |
| Buy 1 | Put | $160.00 | $13.20 |
TTMI collar risk and reward
- Net Premium / Debit
- -$16,637.00
- Max Profit (per contract)
- $863.00
- Max Loss (per contract)
- -$637.00
- Breakeven(s)
- $166.37
- Risk / Reward Ratio
- 1.355
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% | -$637.00 |
| $37.10 | -77.9% | -$637.00 |
| $74.20 | -55.8% | -$637.00 |
| $111.29 | -33.7% | -$637.00 |
| $148.39 | -11.6% | -$637.00 |
| $185.48 | +10.6% | +$863.00 |
| $222.57 | +32.7% | +$863.00 |
| $259.67 | +54.8% | +$863.00 |
| $296.76 | +76.9% | +$863.00 |
| $333.85 | +99.0% | +$863.00 |
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 $126.50 on the downside to $209.04 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 73.40% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on TTMI at 85.80%. 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 trading near $167.77, the strikes shown on this page are snapped to the nearest listed TTMI chain strike and the premiums come straight from the end-of-day 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 end-of-day chain at a 30-day expiry (ATM IV 85.80%), the computed maximum profit is $863.00 per contract and the computed maximum loss is -$637.00 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 $166.37 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 TTMI market-implied 1-standard-deviation expected move is approximately 24.60%; 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 85.80% with IV rank near 73.40%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.