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 August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 47.40%), the computed maximum profit is $247.50 per contract and the computed maximum loss is -$252.50 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 $45.32 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 YOU market-implied 1-standard-deviation expected move in the same options snapshot is approximately 13.59%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current YOU implied volatility affect this collar?

YOU ATM IV is at 47.40% with IV rank near 7.39%, 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.

YOU Collar Strategy

YOU (Clear Secure, Inc.), in the Technology sector, (Software - Application industry), listed on NYSE.

Clear Secure, Inc. (YOU) operates within the United States, specializing in a secure, identity-verification platform primarily for its members. This sophisticated, multi-layered system handles identity enrollment, verification, and linking processes. Among its offerings is CLEAR Plus, a subscription service for air travelers designed to streamline airport security checks, providing members with more predictable and expedited access to security lanes and a wider network of services. Complementing this is the CLEAR app, a mobile application enabling new users to enroll and existing members to engage with the service conveniently from their personal devices. Furthermore, the company developed Reserve powered by CLEAR, an innovative virtual queuing solution that empowers individuals to manage their waiting times flexibly, whether they're at home or on the go. Its portfolio also includes Atlas Certified, an automated service designed to validate professional licenses and certifications across various sectors by directly interfacing with certifying bodies to provide reliable, up-to-date data on demand.

YOU (Clear Secure, Inc.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $4.64B, a trailing P/E of 31.43, a beta of 1.05 versus the broader market, a 52-week range of 29.435-69.07, average daily share volume of 1.5M, a public-listing history dating back to 2021, approximately 3K 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 1.05 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.

YOU snapshot

As of August 14, 2026, spot at $45.45, ATM IV 47.40%, IV rank 7.39%, expected move 13.59%. The collar on YOU 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 7-day expiry.

Why this collar structure on YOU specifically: IV regime affects collar pricing on both sides; compressed YOU IV at 47.40% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 13.59% (roughly $6.18 on the underlying). The 7-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 $45.45 per share and to the trader's directional view on YOU stock.

YOU collar setup

The YOU 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 YOU at $45.45 on that close, the first option leg uses a $47.80 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 7-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	$45.45	long
Sell 1	Call	$47.80	$0.43
Buy 1	Put	$42.80	$0.30

YOU collar risk and reward

Net Premium / Debit: -$4,532.50
Max Profit (per contract): $247.50
Max Loss (per contract): -$252.50
Breakeven(s): $45.32
Risk / Reward Ratio: 0.980

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.

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%	-$252.50
$10.06	-77.9%	-$252.50
$20.11	-55.8%	-$252.50
$30.15	-33.7%	-$252.50
$40.20	-11.5%	-$252.50
$50.25	+10.6%	+$247.50
$60.30	+32.7%	+$247.50
$70.35	+54.8%	+$247.50
$80.40	+76.9%	+$247.50
$90.44	+99.0%	+$247.50

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 $39.27 on the downside to $51.63 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 7.39% 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 YOU at 47.40%. 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 at $45.45 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed YOU chain strike and the premiums come straight from that session's 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 August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 47.40%), the computed maximum profit is $247.50 per contract and the computed maximum loss is -$252.50 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 $45.32 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 YOU market-implied 1-standard-deviation expected move in the same options snapshot is approximately 13.59%; 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 47.40% with IV rank near 7.39%, 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.