How are UUUU 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 UUUU collar priced from the end-of-day chain at a 30-day expiry (ATM IV 87.74%), the computed maximum profit is $128.50 per contract and the computed maximum loss is -$71.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a UUUU collar?

The breakeven for the UUUU collar priced on this page is roughly $18.22 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 UUUU market-implied 1-standard-deviation expected move is approximately 25.15%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current UUUU implied volatility affect this collar?

UUUU ATM IV is at 87.74% with IV rank near 20.91%, 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.

UUUU Collar Strategy

UUUU (Energy Fuels Inc.), in the Energy sector, (Uranium industry), listed on AMEX.

Energy Fuels Inc., together with its subsidiaries, engages in the extraction, recovery, exploration, and sale of conventional and in situ uranium recovery in the United States. The company owns and operates the Nichols Ranch project, the Jane Dough property, and the Hank project located in Wyoming; and the Alta Mesa project located in Texas, as well as White Mesa Mill in Utah. It also holds interests in uranium and uranium/vanadium properties and projects in various stages of exploration, permitting, and evaluation located in Utah, Wyoming, Arizona, New Mexico, and Colorado. The company was formerly known as Volcanic Metals Exploration Inc. and changed its name to Energy Fuels Inc. in May 2006. Energy Fuels Inc. was incorporated in 1987 and is headquartered in Lakewood, Colorado.

UUUU (Energy Fuels Inc.) trades in the Energy sector, specifically Uranium, with a market capitalization of approximately $5.04B, a beta of 1.61 versus the broader market, a 52-week range of 4.2-27.9, average daily share volume of 11.7M, a public-listing history dating back to 2007, approximately 1K full-time employees. These structural characteristics shape how UUUU stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.61 indicates UUUU 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 UUUU?

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 UUUU snapshot

As of May 15, 2026, spot at $18.42, ATM IV 87.74%, IV rank 20.91%, expected move 25.15%. The collar on UUUU 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 28-day expiry.

Why this collar structure on UUUU specifically: IV regime affects collar pricing on both sides; compressed UUUU IV at 87.74% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 25.15% (roughly $4.63 on the underlying). The 28-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated UUUU expiries trade a higher absolute premium for lower per-day decay. Position sizing on UUUU should anchor to the underlying notional of $18.42 per share and to the trader's directional view on UUUU stock.

UUUU collar setup

The UUUU 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 UUUU near $18.42, the first option leg uses a $19.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed UUUU chain at a 28-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 UUUU shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$18.42	long
Sell 1	Call	$19.50	$1.47
Buy 1	Put	$17.50	$1.27

UUUU collar risk and reward

Net Premium / Debit: -$1,821.50
Max Profit (per contract): $128.50
Max Loss (per contract): -$71.50
Breakeven(s): $18.22
Risk / Reward Ratio: 1.797

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.

UUUU collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on UUUU. 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	-99.9%	-$71.50
$4.08	-77.8%	-$71.50
$8.15	-55.7%	-$71.50
$12.22	-33.6%	-$71.50
$16.30	-11.5%	-$71.50
$20.37	+10.6%	+$128.50
$24.44	+32.7%	+$128.50
$28.51	+54.8%	+$128.50
$32.58	+76.9%	+$128.50
$36.65	+99.0%	+$128.50

When traders use collar on UUUU

Collars on UUUU hedge an existing long UUUU 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.

UUUU thesis for this collar

The market-implied 1-standard-deviation range for UUUU extends from approximately $13.79 on the downside to $23.05 on the upside. A UUUU collar hedges an existing long UUUU 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 UUUU IV rank near 20.91% 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 UUUU at 87.74%. As a Energy name, UUUU options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to UUUU-specific events.

UUUU 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. UUUU positions also carry Energy sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move UUUU alongside the broader basket even when UUUU-specific fundamentals are unchanged. Always rebuild the position from current UUUU chain quotes before placing a trade.

Frequently asked questions

What is a collar on UUUU?: A collar on UUUU is the collar strategy applied to UUUU (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 UUUU stock trading near $18.42, the strikes shown on this page are snapped to the nearest listed UUUU chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are UUUU 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 UUUU collar priced from the end-of-day chain at a 30-day expiry (ATM IV 87.74%), the computed maximum profit is $128.50 per contract and the computed maximum loss is -$71.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a UUUU collar?: The breakeven for the UUUU collar priced on this page is roughly $18.22 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 UUUU market-implied 1-standard-deviation expected move is approximately 25.15%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on UUUU?: Collars on UUUU hedge an existing long UUUU 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 UUUU implied volatility affect this collar?: UUUU ATM IV is at 87.74% with IV rank near 20.91%, 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.