A complete guide to using collars

Learn how to help mitigate your risk and exposure by executing a commonly overlooked options strategy, the collar.

Thursday, June 6, 2019
Noon – 1:00 p.m. ET

Options are one of the most useful and versatile risk management tools available to the everyday trader. For example, buying puts to help protect a stock or ETF you own can be a great way to help mitigate market risk — but it comes at a cost. Is there a way to reduce that cost? Yes, by creating a position called “a collar.” With a collar, investors can hedge against losses if the stock falls, while still allowing for some upward market participation. Join Dan Passarelli of Market Taker Mentoring and learn how to help protect your long-term stock and ETF investments with this cost-effective options strategy.


Dan PassarelliDan Passarelli is an author, trader and former member of the Chicago Board Options Exchange (CBOE) and CME Group. Dan has written two books on options trading — "Trading Option Greeks" and "The Market Taker's Edge." He is also the founder and CEO of Market Taker Mentoring, Inc., a leading options education firm that provides online options education, options newsletters and personalized, one-on-one coaching for options traders.

Dan began his trading career on the floor of the CBOE as an equity options market maker. He also traded agricultural options and futures on the floor of the Chicago Board of Trade (now part of the CME Group).

In 2005, Dan joined CBOE's Options Institute and began teaching both basic an advanced trading concepts to retail traders, brokers, institutional traders, financial planners and advisors, money managers and market makers. In addition to his work with the CBOE, he has taught options strategies at the Options Industry Council (OIC), the International Securities Exchange (ISE), CME Group, the Philadelphia Stock Exchange and many leading options-based brokerage firms. Dan also contributes to financial media such as TheStreet.com, FOX Business News, Bloomberg Television, BNN, Public Radio, and the CBOE blog. And he has a weekly featured video on CBOETV.

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