Calculate the cost and coverage of hedging ALK.
Compare the contracts, shares covered, dollars spent, and outcomes at expiry.
Quotes as of Oct 20, 2026, 7:59 PM UTC (Polygon options snapshot (delayed)) · underlying $33.98 as of Oct 20, 2026
Inspect a completed hedge comparison.
Underlying price: $33.98 · Protection expiry: Dec 18, 2026
For 100 shares, a 30 put expiring Dec 18, 2026 costs $105.65 at the $1.05 ask; selling the 37.5 call at its $1.75 bid makes the collar cost −$68.70.
| Reduce position 50% | Protective put | Collar | |
|---|---|---|---|
| Premium and included fees | $0.85 | $105.65 | −$68.70 |
| Shares retained | 50 | 100 | 100 |
| Shares covered by options | — | 100 | 100 |
| Outcome at $27.18 | −$341 | −$504 | −$329 |
| Outcome at $33.98 | −$1 | −$106 | $69 |
| Outcome at $40.78 | $339 | $574 | $421 |
| Upside cap | Half of gains | None | $37.50 |
O:ALK261218P00030000 · O:ALK261218C00037500 · standard 100-share deliverable · quoted Oct 20, 2026, 7:59 PM UTC
Calculate protection for your shares.
Compare the outcome at different prices.
Position result: −$680 · Protection result after premium and included fees: −$329
Move the price control to compare the same structures at expiry. Values before expiry also depend on time value and volatility; an estimated before-expiry value is calculated in the paid hedge workspace.
Save the hedge with its costs, coverage, and dates.
Keep the selected contracts and quote snapshot attached to your position. Record the decision, follow the protection period, and reopen the comparison when your coverage or underlying case changes.
Still deciding whether protection is worthwhile? Compare hedging with reducing the position.