VNRX Collar Strategy
VNRX (VolitionRx Limited), in the Healthcare sector, (Medical - Diagnostics & Research industry), listed on AMEX.
VolitionRx Limited, a multi-national epigenetics company, engages in the development of blood tests to help diagnose a range of cancers and other diseases worldwide. It sells Nu.Q that detect cancer; Nu.Q Nets, monitoring the immune system; Nu.Q Vet cancer screening test for veterinary applications; Nu.Q Capture capturing and concentrating samples for more accurate diagnosis; and Nu.Q Discover, a solution to profiling nucleosomes. The company operates Nucleosomics a technology platform for blood test. VolitionRx Limited is based in Austin, Texas.
VNRX (VolitionRx Limited) trades in the Healthcare sector, specifically Medical - Diagnostics & Research, with a market capitalization of approximately $12.6M, a beta of 1.03 versus the broader market, a 52-week range of 2.01-18.8, average daily share volume of 614K, a public-listing history dating back to 2012, approximately 85 full-time employees. These structural characteristics shape how VNRX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.03 places VNRX roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a collar on VNRX?
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 VNRX snapshot
As of May 15, 2026, spot at $2.06, ATM IV 28.50%, IV rank 2.28%, expected move 8.17%. The collar on VNRX 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 VNRX specifically: IV regime affects collar pricing on both sides; compressed VNRX IV at 28.50% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 8.17% (roughly $0.17 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 VNRX expiries trade a higher absolute premium for lower per-day decay. Position sizing on VNRX should anchor to the underlying notional of $2.06 per share and to the trader's directional view on VNRX stock.
VNRX collar setup
The VNRX 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 VNRX near $2.06, the first option leg uses a $2.16 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed VNRX 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 VNRX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $2.06 | long |
| Sell 1 | Call | $2.16 | N/A |
| Buy 1 | Put | $1.96 | N/A |
VNRX 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.
VNRX collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on VNRX. 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 VNRX
Collars on VNRX hedge an existing long VNRX 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.
VNRX thesis for this collar
The market-implied 1-standard-deviation range for VNRX extends from approximately $1.89 on the downside to $2.23 on the upside. A VNRX collar hedges an existing long VNRX 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 VNRX IV rank near 2.28% 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 VNRX at 28.50%. As a Healthcare name, VNRX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to VNRX-specific events.
VNRX 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. VNRX positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move VNRX alongside the broader basket even when VNRX-specific fundamentals are unchanged. Always rebuild the position from current VNRX chain quotes before placing a trade.
Frequently asked questions
- What is a collar on VNRX?
- A collar on VNRX is the collar strategy applied to VNRX (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 VNRX stock trading near $2.06, the strikes shown on this page are snapped to the nearest listed VNRX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are VNRX 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 VNRX collar priced from the end-of-day chain at a 30-day expiry (ATM IV 28.50%), 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 VNRX collar?
- The breakeven for the VNRX 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 VNRX market-implied 1-standard-deviation expected move is approximately 8.17%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on VNRX?
- Collars on VNRX hedge an existing long VNRX 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 VNRX implied volatility affect this collar?
- VNRX ATM IV is at 28.50% with IV rank near 2.28%, 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.