YOU Collar Strategy
YOU (Clear Secure, Inc.), in the Technology sector, (Software - Application industry), listed on NYSE.
Clear Secure, Inc. provides a member-centric secure identity platform in the United States. The company's secure identity platform is a multi-layered infrastructure consisting of front-end, including enrollment, verification, and linking. It also offers CLEAR Plus, a consumer aviation subscription service, which enables access to predictable entry lanes in airport security checkpoints, as well as access to broader network; and CLEAR app, a consumer-facing digital product that facilitates new user enrollment and member engagement from their mobile device. In addition, the company provides Reserve powered by CLEAR, a virtual queuing technology that provides users with the choice of how they queue either at home or on the move; and Atlas Certified, an automated solution to verify professional licenses and certification data across industries by communicating with certifying organizations for on-demand, current, and trusted data. The company was founded in 2010 and is headquartered in New York, New York.
YOU (Clear Secure, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $5.59B, a trailing P/E of 32.63, a beta of 1.07 versus the broader market, a 52-week range of 23.88-61.68, average daily share volume of 1.9M, a public-listing history dating back to 2021, approximately 4K full-time employees. These structural characteristics shape how YOU stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.07 places YOU roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. YOU pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on YOU?
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 YOU snapshot
As of May 15, 2026, spot at $58.60, ATM IV 52.60%, IV rank 35.59%, expected move 15.08%. The collar on YOU 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 63-day expiry.
Why this collar structure on YOU specifically: IV regime affects collar pricing on both sides; mid-range YOU IV at 52.60% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 15.08% (roughly $8.84 on the underlying). The 63-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated YOU expiries trade a higher absolute premium for lower per-day decay. Position sizing on YOU should anchor to the underlying notional of $58.60 per share and to the trader's directional view on YOU stock.
YOU collar setup
The YOU 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 YOU near $58.60, the first option leg uses a $59.80 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed YOU chain at a 63-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 YOU shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $58.60 | long |
| Sell 1 | Call | $59.80 | $5.45 |
| Buy 1 | Put | $54.80 | $3.30 |
YOU collar risk and reward
- Net Premium / Debit
- -$5,645.00
- Max Profit (per contract)
- $335.00
- Max Loss (per contract)
- -$165.00
- Breakeven(s)
- $56.45
- Risk / Reward Ratio
- 2.030
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.
YOU collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on YOU. 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% | -$165.00 |
| $12.97 | -77.9% | -$165.00 |
| $25.92 | -55.8% | -$165.00 |
| $38.88 | -33.7% | -$165.00 |
| $51.83 | -11.5% | -$165.00 |
| $64.79 | +10.6% | +$335.00 |
| $77.74 | +32.7% | +$335.00 |
| $90.70 | +54.8% | +$335.00 |
| $103.66 | +76.9% | +$335.00 |
| $116.61 | +99.0% | +$335.00 |
When traders use collar on YOU
Collars on YOU hedge an existing long YOU 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.
YOU thesis for this collar
The market-implied 1-standard-deviation range for YOU extends from approximately $49.76 on the downside to $67.44 on the upside. A YOU collar hedges an existing long YOU 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 YOU IV rank near 35.59% is mid-range against its 1-year distribution, so the IV signal is neutral; the collar thesis on YOU should anchor more to the directional view and the expected-move geometry. As a Technology name, YOU options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to YOU-specific events.
YOU 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. YOU positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move YOU alongside the broader basket even when YOU-specific fundamentals are unchanged. Always rebuild the position from current YOU chain quotes before placing a trade.
Frequently asked questions
- What is a collar on YOU?
- A collar on YOU is the collar strategy applied to YOU (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 YOU stock trading near $58.60, the strikes shown on this page are snapped to the nearest listed YOU chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are YOU 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 YOU collar priced from the end-of-day chain at a 30-day expiry (ATM IV 52.60%), the computed maximum profit is $335.00 per contract and the computed maximum loss is -$165.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a YOU collar?
- The breakeven for the YOU collar priced on this page is roughly $56.45 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 YOU market-implied 1-standard-deviation expected move is approximately 15.08%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on YOU?
- Collars on YOU hedge an existing long YOU 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 YOU implied volatility affect this collar?
- YOU ATM IV is at 52.60% with IV rank near 35.59%, 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.