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 August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 56.90%), the computed maximum profit is $168.00 per contract and the computed maximum loss is -$132.00 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 $29.32 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 ZETA market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.31%; 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 56.90% with IV rank near 7.33%, 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. provides a sophisticated, data-driven cloud platform globally, empowering enterprises with advanced consumer intelligence and automated marketing software. Its core offering, the Zeta Marketing Platform (ZMP), processes billions of diverse data points—both structured and unstructured—to predict consumer intent through advanced machine learning algorithms and an extensive, opted-in industry dataset for seamless omnichannel marketing. Complementing this, the Consumer Data Platform (CDP) integrates, analyzes, and distills disparate data to form a unified view of individual consumers, detailing their identity, profile characteristics, behaviors, and purchase inclinations. The company also offers specialized product suites, such as "Opportunity Explorer" and "CDP+," designed to consolidate multiple internal and external data feeds and organize information to meet specific needs and performance targets. Zeta Global Holdings Corp. was founded 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 $7.14B, a beta of 1.39 versus the broader market, a 52-week range of 14.365-29.89, average daily share volume of 9.0M, a public-listing history dating back to 2021, approximately 3K 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 1.39 indicates ZETA 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 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.

ZETA snapshot

As of August 14, 2026, spot at $29.23, ATM IV 56.90%, IV rank 7.33%, expected move 16.31%. The collar on ZETA 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 28-day expiry.

Why this collar structure on ZETA specifically: IV regime affects collar pricing on both sides; compressed ZETA IV at 56.90% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 16.31% (roughly $4.77 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 $29.23 per share and to the trader's directional view on ZETA stock.

ZETA collar setup

The ZETA 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 ZETA at $29.23 on that close, the first option leg uses a $31.00 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	$29.23	long
Sell 1	Call	$31.00	$1.16
Buy 1	Put	$28.00	$1.25

ZETA collar risk and reward

Net Premium / Debit: -$2,932.00
Max Profit (per contract): $168.00
Max Loss (per contract): -$132.00
Breakeven(s): $29.32
Risk / Reward Ratio: 1.273

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.

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%	-$132.00
$6.47	-77.9%	-$132.00
$12.93	-55.8%	-$132.00
$19.40	-33.6%	-$132.00
$25.86	-11.5%	-$132.00
$32.32	+10.6%	+$168.00
$38.78	+32.7%	+$168.00
$45.24	+54.8%	+$168.00
$51.70	+76.9%	+$168.00
$58.17	+99.0%	+$168.00

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 $24.46 on the downside to $34.00 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 7.33% 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 56.90%. 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 at $29.23 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed ZETA chain strike and the premiums come straight from that session's 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 August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 56.90%), the computed maximum profit is $168.00 per contract and the computed maximum loss is -$132.00 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 $29.32 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 ZETA market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.31%; 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 56.90% with IV rank near 7.33%, 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.