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A collar is an options strategy that combines three positions. The options trader can establish a collar strategy by buying shares of a stock then buying a put option and selling (writing) a call option on that stock. The trader should purchase one put and write one call for every 100 shares held in the underlying stock. The collar strategy also needs that the purchased put and the written call expire on the same day and are both out-of-money.
The Options Collar strategy is mainly used by traders, whose opinion regarding the market is neutral, and who have already some unrealized profits and want to reduce their downside risk. Using this strategy limits the downside risk, but also the upside potential.
This item downloads collar option combinations, for U.S. options, that are found by the Collar Screener available at avasaram.com.
The data can be downloaded on a daily-basis. The downloader inserts the data into a custom database "options_collar".
This Collar Option database contains 18 fields:
Date: The date the combinations were found
Stock_Price: The underlying stock current price
Spread: The option collar spread (put call spread)
Ret: The option collar maximum return
Option_Long: The name of long put option
Type_Long: The type of the long option (put)
Strike_Long: The strike price of the long put option
Expiry_Long: The expiration date of the long put option
Ask_Long: The ask price of the long put option
Volume_Long: The volume of long put option
OpenInterest_Long: The open interest of the long put option
Option_Short: The name of the short call option
Type_Short: The type of the short option (call)
Strike_Short: The strike price of the short call option
Expiry_Short: The expiration date of the short call option
Bid_Short: The bid price of the short call option
Volume_Short: The volume of the short call option
OpenInterest_Short: The open interest of the short call option
For a particular date, one optionable stock can have several collar option combinations.
The put options are stored in the "Long" columns and the call options are stored in the "Short" column.
The strike price of the options is saved in the "Strike_Long" and "Strike_Short" columns, although they can be easily extracted from the option names.
Trading financial instruments, including foreign exchange on margin, carries a high level of risk and is not suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in financial instruments or foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with trading and seek advice from an independent financial advisor if you have any doubts.
