How are VOYG 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 VOYG collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 76.60%), the computed maximum profit is $209.50 per contract and the computed maximum loss is -$190.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a VOYG collar?

The breakeven for the VOYG collar priced on this page is roughly $42.91 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 VOYG market-implied 1-standard-deviation expected move in the same options snapshot is approximately 21.96%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current VOYG implied volatility affect this collar?

VOYG ATM IV is at 76.60% with IV rank near 14.30%, 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.

VOYG Collar Strategy

VOYG (Voyager Technologies, Inc.), in the Industrials sector, (Aerospace & Defense industry), listed on NYSE.

Voyager Technologies, Inc. operates as a defense technology and space solutions company in the United States, Europe, the Middle East, and internationally. It operates through three segments: Defense & National Security, Space Solutions, and Starlab Space Stations. The Defense & National Security segment provides defense systems, including solid propulsion subsystems; signal intelligence systems; space-qualified radiation-hardened laser and radio frequency (RF) communications systems and advanced electro-optical and digital systems comprising transceivers, mission-data transmitters, and command and data handling systems; guidance, navigation, and control systems that include sun sensors, star trackers, and inertial measurement units; artificial intelligence-powered edge computing products; and space maneuver. Its Space Solutions segment offers advanced space technology systems, such as in-space propulsion systems with applications for orbital servicing, manufacturing, and deep space exploration; space infrastructure, including the Bishop Airlock, a module attached to the ISS that enables movement of equipment, supplies, and payloads between the ISS and open space; and space science and mission management services, such as the Space Acceleration Measurement System (SAMS) on the ISS. The Starlab Space Stations segment operates a commercial space station and provides continued permanent human presence in space. It serves defense, national security, and space industries.

VOYG (Voyager Technologies, Inc.) trades in the Industrials sector, specifically Aerospace & Defense, with a market capitalization of approximately $2.60B, a beta of 4.17 versus the broader market, a 52-week range of 17.41-52.4, average daily share volume of 2.1M, a public-listing history dating back to 2025, approximately 800 full-time employees. These structural characteristics shape how VOYG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 4.17 indicates VOYG 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 VOYG?

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.

VOYG snapshot

As of August 14, 2026, spot at $42.83, ATM IV 76.60%, IV rank 14.30%, expected move 21.96%. The collar on VOYG 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 VOYG specifically: IV regime affects collar pricing on both sides; compressed VOYG IV at 76.60% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 21.96% (roughly $9.41 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 VOYG expiries trade a higher absolute premium for lower per-day decay. Position sizing on VOYG should anchor to the underlying notional of $42.83 per share and to the trader's directional view on VOYG stock.

VOYG collar setup

The VOYG 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 VOYG at $42.83 on that close, the first option leg uses a $45.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed VOYG 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 VOYG shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$42.83	long
Sell 1	Call	$45.00	$2.95
Buy 1	Put	$41.00	$3.03

VOYG collar risk and reward

Net Premium / Debit: -$4,290.50
Max Profit (per contract): $209.50
Max Loss (per contract): -$190.50
Breakeven(s): $42.91
Risk / Reward Ratio: 1.100

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.

VOYG collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on VOYG. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$190.50
$9.48	-77.9%	-$190.50
$18.95	-55.8%	-$190.50
$28.42	-33.7%	-$190.50
$37.89	-11.5%	-$190.50
$47.35	+10.6%	+$209.50
$56.82	+32.7%	+$209.50
$66.29	+54.8%	+$209.50
$75.76	+76.9%	+$209.50
$85.23	+99.0%	+$209.50

When traders use collar on VOYG

Collars on VOYG hedge an existing long VOYG 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.

VOYG thesis for this collar

The market-implied 1-standard-deviation range for VOYG extends from approximately $33.42 on the downside to $52.24 on the upside. A VOYG collar hedges an existing long VOYG 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 VOYG IV rank near 14.30% 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 VOYG at 76.60%. As a Industrials name, VOYG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to VOYG-specific events.

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

Frequently asked questions

What is a collar on VOYG?: A collar on VOYG is the collar strategy applied to VOYG (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 VOYG stock at $42.83 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed VOYG chain strike and the premiums come straight from that session's bid/ask midpoint.
How are VOYG 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 VOYG collar priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 76.60%), the computed maximum profit is $209.50 per contract and the computed maximum loss is -$190.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a VOYG collar?: The breakeven for the VOYG collar priced on this page is roughly $42.91 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 VOYG market-implied 1-standard-deviation expected move in the same options snapshot is approximately 21.96%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on VOYG?: Collars on VOYG hedge an existing long VOYG 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 VOYG implied volatility affect this collar?: VOYG ATM IV is at 76.60% with IV rank near 14.30%, 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.