How are ZETA 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 ZETA collar priced from the end-of-day chain at a 30-day expiry (ATM IV 59.56%), the computed maximum profit is $86.50 per contract and the computed maximum loss is -$63.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a ZETA collar?

The breakeven for the ZETA collar priced on this page is roughly $17.13 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 ZETA market-implied 1-standard-deviation expected move is approximately 17.08%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current ZETA implied volatility affect this collar?

ZETA ATM IV is at 59.56% with IV rank near 14.33%, 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.

ZETA Collar Strategy

ZETA (Zeta Global Holdings Corp.), in the Technology sector, (Software - Application industry), listed on NYSE.

Zeta Global Holdings Corp. operates an omnichannel data-driven cloud platform that provides enterprises with consumer intelligence and marketing automation software in the United States and internationally. Its Zeta Marketing Platform analyzes billions of structured and unstructured data points to predict consumer intent by leveraging sophisticated machine learning algorithms and the industry's opted-in data set for omnichannel marketing; and Consumer Data platform ingests, analyzes, and distills disparate data points to generate a single view of a consumer, encompassing identity, profile characteristics, behaviors, and purchase intent. It also offers various types of product suites, such as opportunity explorer, and CDP+, which helps in consolidating multiple databases and internal and external data feeds and organize data based on needs and performance metrics. The company was incorporated in 2007 and is headquartered in New York, New York.

ZETA (Zeta Global Holdings Corp.) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $4.01B, a beta of 1.29 versus the broader market, a 52-week range of 12.1-24.9, average daily share volume of 8.0M, a public-listing history dating back to 2021, approximately 2K full-time employees. These structural characteristics shape how ZETA stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.29 places ZETA roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.

What is a collar on ZETA?

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 ZETA snapshot

As of May 15, 2026, spot at $17.30, ATM IV 59.56%, IV rank 14.33%, expected move 17.08%. The collar on ZETA 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 ZETA specifically: IV regime affects collar pricing on both sides; compressed ZETA IV at 59.56% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 17.08% (roughly $2.95 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 ZETA expiries trade a higher absolute premium for lower per-day decay. Position sizing on ZETA should anchor to the underlying notional of $17.30 per share and to the trader's directional view on ZETA stock.

ZETA collar setup

The ZETA 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 ZETA near $17.30, the first option leg uses a $18.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ZETA 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 ZETA shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 100 shares	Stock	$17.30	long
Sell 1	Call	$18.00	$0.89
Buy 1	Put	$16.50	$0.73

ZETA collar risk and reward

Net Premium / Debit: -$1,713.50
Max Profit (per contract): $86.50
Max Loss (per contract): -$63.50
Breakeven(s): $17.13
Risk / Reward Ratio: 1.362

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.

ZETA collar payoff curve

Modeled P&L at expiration across a range of underlying prices for the collar on ZETA. 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%	-$63.50
$3.83	-77.8%	-$63.50
$7.66	-55.7%	-$63.50
$11.48	-33.6%	-$63.50
$15.31	-11.5%	-$63.50
$19.13	+10.6%	+$86.50
$22.95	+32.7%	+$86.50
$26.78	+54.8%	+$86.50
$30.60	+76.9%	+$86.50
$34.43	+99.0%	+$86.50

When traders use collar on ZETA

Collars on ZETA hedge an existing long ZETA 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.

ZETA thesis for this collar

The market-implied 1-standard-deviation range for ZETA extends from approximately $14.35 on the downside to $20.25 on the upside. A ZETA collar hedges an existing long ZETA 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 ZETA IV rank near 14.33% 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 ZETA at 59.56%. As a Technology name, ZETA options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ZETA-specific events.

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

Frequently asked questions

What is a collar on ZETA?: A collar on ZETA is the collar strategy applied to ZETA (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 ZETA stock trading near $17.30, the strikes shown on this page are snapped to the nearest listed ZETA chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are ZETA 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 ZETA collar priced from the end-of-day chain at a 30-day expiry (ATM IV 59.56%), the computed maximum profit is $86.50 per contract and the computed maximum loss is -$63.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a ZETA collar?: The breakeven for the ZETA collar priced on this page is roughly $17.13 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 ZETA market-implied 1-standard-deviation expected move is approximately 17.08%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a collar on ZETA?: Collars on ZETA hedge an existing long ZETA 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 ZETA implied volatility affect this collar?: ZETA ATM IV is at 59.56% with IV rank near 14.33%, 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.