Collar Options Profit Calculator

Own shares + buy protective put + sell covered call. Cap gains and losses.

Switch strategy

Symbol

Override price (optional — scenario testing)

Position Legs

Expiration Date

Enter a symbol above and select expiry to load live options data

Leg 1 — Long Put

manual

Strike

Premium / share

Contracts

Implied Volatility (%)

Leg 2 — Short Call

manual

Strike

Premium / share

Contracts

Implied Volatility (%)

Settings

IV Scenario

Commission ($ per contract)

Use bid/ask spread (worst-case fill)

Strategy Results

Select an expiry and strike to analyze your Collar

P&L Chart

Enter strike and premium to see P&L chart

P&L Heatmap

price × DTE

Enter position details to see P&L heatmap

Position Greeks

Greeks appear once strikes are entered

What is a Collar Options Calculator?

Own 100 shares, buy a protective put (downside floor), and sell a covered call (upside cap). Net cost is often near zero (zero-cost collar). Protects existing gains while giving up further upside.

Max risk

limited

Max reward

limited

Legs

3 legs