Buying the put gives you the right to sell the stock at strike price A. Because you’ve also sold the call, you’ll be obligated to sell the stock at strike price B if the option is assigned.
You can think of a collar as simultaneously running a protective put and a covered call. Some investors think this is a sexy trade because the covered call helps to pay for the protective put. So you’ve limited the downside on the stock for less than it would cost to buy a put alone, but there’s a tradeoff.
Many investors will run a collar when they’ve seen a nice run-up on the stock price, and they want to protect their unrealized profits against a downturn.
Some investors will try to sell the call with enough premium to pay for the put entirely. If established for net-zero cost, it is often referred to as a “zero-cost collar.” It may even be established for a net credit, if the call with strike price B is worth more than the put with strike price A.
Some investors will establish this strategy in a single trade. For every 100 shares they buy, they’ll sell one out-of-the-money call contract and buy one out-of-the-money put contract. This limits your downside risk instantly, but of course, it also limits your upside.
• VERSATILITY -How does a Biden presidency impact your portfolio?
• DYNAMISM -Is cryptocurrency part of your 2021 portfolio?
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We collect two basic types of information from you in conjunction with your use of the Website, personal information and non-personal information. Personal information is information that you may supply to us, as described more fully below, i.e., when you obtain a subscription, complete a survey, register on the Website, upload content, participate in a community, or provide your email address. Personal information is any information that can individually identify you and includes, among other things, your name, e-mail address, telephone number, postal address, credit card, billing and contact information. Non-personal information includes information that does not personally identify you, but it may include tracking and usage information about your location, demographics, use of the Website and the Internet.
As a general matter, you can browse the Website without submitting your personal information to us. However, there are a number of circumstances in which you may supply us or our agents with your personal information. The following lists the most common ways in which we may collect your personal information.
• Registration for an event sponsored by VersaQuant
• Downloading collaterals from the Website
• Submitting an application to work at VersaQuant
• Sign up to receive alerts or other information via email, text or instant message from VersaQuant
• Request for sales calls, customer service, support requests or other assistance
• Website related communications, e.g. account verification; technical notification
• Participation in communities, commenting to blog entries and participation in other forums
• Any other place on the Website where you knowingly volunteer personal information
• In addition, when you interact with the Website, we may collect certain information that does not identify you individually and our servers may automatically keep an activity log of your use of our Website (“Non-Personal Information”). Generally, we collect and store the following categories of Non-Personal Information:
• Non-identifiable demographic data such as age, gender, and five-digit zip code as part of collecting personal information
• Device information about your computer, browser, mobile device, or other device that you use to access the Website. This information may include IP address, geolocation information, unique device identifiers, browser type, browser language, and other transactional information.
• Analytics and usage information about your use of the Website.
• Additional “traffic data” and log files such as time of access, date of access, software crash reports, session identification number, access times, and referring website addresses.
• Other information regarding your use of the Website.
• We may also gather and use information about you from publicly available third-party sources.
Collection of Your Source IP Address/Location Information
We may collect and store location information about you on the Website and associated with your account that you volunteer on the Website or enable through the Website or your device. We will not collect any location information that you do not volunteer or enable. We will delete any location information that you request is deleted. We do collect and store your device’s source IP address which may disclose the location of your device at the time you access the Website.
Tracking and Targeting
The Website will respect your browser’s Do Not Track signals (or other well-established, commercially available mechanisms that provide you with the ability to exercise choice regarding the collection of Personal Information). If we receive a Do Not Track notice, we will stop using any Personal Information for online behavioral advertising purposes. To find out more about “Do Not Track,” please visit http://www.allaboutdnt.com.
In some of our communications, we track clicks on links in the communications to content on the Website and in the Services to help us measure the effectiveness of our communications.
How Do We Use Your Information?
We use your personal information and other non-personal information, such as your location information, we learn from you to help us personalize and continually improve your experience on the Website. We may use your Personal and Non-Personal Information in the following ways:
To provide the Services
We use your personal information to provide, support, understand and improve the Services. As part of providing the Services we may send you service announcements, technical notices, updates, security alerts and support-related messages related to your account or transactions with us, through the Services or by email. We may also communicate with you in response to your support requests, questions, feedback or comments to a blog post, or to provide you with information about our policies.
To personalize the Services
We use the information we collect to personalize content and experiences on our Website, to better understand your interests, make personalized recommendations based on your interests or information and otherwise personalize your experience with the Services.
To send you marketing communications
If you use the Services, request information from us, or participate in our surveys, promotions or events, we may send you John Elliott-related marketing communications. You can always opt-out of these communications by following the opt-out instructions in the message or by contacting us.
To create anonymous data
We may create aggregated and other anonymous data from our users’ personal information. We make personal information into anonymous data by removing information that makes the data personally identifiable to you. We may use this anonymous data and share it with third parties to operate, understand and improve our Services, to develop new services, and for other lawful business purposes.
For security, compliance, fraud prevention and safety
We may use your personal information as we believe appropriate to investigate or prevent violation of the law or our Terms of Service; to secure the Services; to protect our, your or others’ rights, privacy, safety or property; and to protect, investigate and deter against fraudulent, harmful, unauthorized, unethical or illegal activity. For example, we may use tools to scan your videos and other content in the Services for content that violates our Terms of Service or the law. We may also use the information we collect about your device to detect users violating our Terms of Service and prevent further violations.
For compliance with law; legal claims
We may use your personal information as we believe appropriate (a) to comply with applicable laws, lawful requests and legal process, such as to respond to subpoenas or requests from government authorities; (b) where permitted by law in connection with any legal investigation; and (c) to prosecute or defend legal claims.
With your consent
In some cases we may ask for your consent to collect, use or share your personal information with your consent. We use the information from one portion of the Website on other portions of the Website or elsewhere in our network of websites, apps, and other interactive features, or in reports and analysis, all of which are owned and operated by VersaQuant, and we may combine information gathered from multiple portions of the Website into a single customer record or analysis or report. We also use and/or combine information that we collect off-line or we collect or receive from third party sources to enhance, expand, and check the accuracy of your customer records.
How We Share Your Personal Information?
We do not disclose information about your Personal Information collected online to any companies not part of VersaQuant or its parent, subsidiaries or related entities. In no event will we sell or rent your Personal Information as part of a customer list or similar transaction.
Business Partners and Third Parties
We may share your Personal Information with our business partners from time to time. You may withdraw your consent to our sharing of your Personal Information with business partners and third parties at any time by following the opt-out process described below.
We have third party agents, subsidiaries and partners that perform functions on our behalf, such as hosting, billing, push notifications, storage, bandwidth, content management tools, analytics, customer service, fraud protection, etc. These entities have access to the Personal Information needed to perform their functions and are contractually obligated to maintain the confidentiality and security of that Personal Information. They are restricted from using, selling, distributing or altering this data in any way other than to provide the requested services to the Website.
For compliance with law; legal claims; security, compliance, fraud prevention and safety
We may also use or disclose Personal Information if required to do so by law or in the good-faith belief that such action is necessary to (a) conform to applicable law or comply with legal process served on us or the Website; (b) protect and defend our rights or property, the Website or our users, and (c) act under emergency circumstances to protect the personal safety of us, our affiliates, agents, or the users of the Website or the public. This includes exchanging information with other companies and organizations for fraud protection.
We may sell, transfer or otherwise share some or all of our business or assets, including your personal information, in connection with a business deal (or potential business deal) such as a merger, consolidation, acquisition, reorganization, sale of assets or in the event of bankruptcy.
What Steps Are Taken To Keep Personal Information Secure?
We are concerned about ensuring the security of your Personal Information. We exercise great care in providing secure transmission of your information from your device to our servers. Personal Information collected by our Website are stored in secure operating environments that are not available to the public. Our security procedures mean that we may occasionally request proof of identity before we disclose your Personal Information to you. Please understand, however, that while we try our best to safeguard your Personal Information once we receive it, no transmission of data over the Internet or any other public network can be guaranteed to be 100% secure.
How Can We Transfer Your Personal Information?
Cross-Border Data Transfer
If we transfer your personal information out of the European Economic Area or Switzerland and are required to apply additional safeguards to your personal information under European data protection legislation, we will do so. Such safeguards may include applying the European Commission Model contracts for the transfer of personal data to third countries described here (https://ec.europa.eu/info/law/law-topic/data-protection/data-transfers-outside-eu/model-contracts-transfer-personal-data-third-countries_en#international-data-transfers-using-model-contracts), or for transfers to third parties in the United States, ensuring they participate in the EU-U.S. Privacy Shield Framework or Swiss-U.S. Privacy Shield Framework. Please contact us for further information about any such transfers or the specific safeguards applied.
How Long Do We Keep Your Information?
Following termination or deactivation of your account, VersaQuant, its Clients, Affiliates, or its service providers may retain information (including your profile information) and user Content for a commercially reasonable time for backup, archival, and/or audit purposes. If you have any questions about termination or deactivation of your account, please contact us directly at support@VersaQuant.com.
Social Media Widgets
What Happens When I Link To or From Another Website?
We may make available on the Website or in the Services, or link to, features that allow you to share information online (e.g., on message boards, in chat areas, in file uploads, through events, etc.). Please be aware that whenever you voluntarily disclose personal information online, that information becomes public and can be collected and used by others. We have no control over, and take no responsibility for, the use, storage or dissemination of such publicly-disclosed personal information. By posting personal information online in public forums, you may receive unsolicited messages from other parties.
The Services are not directed to anyone under the age of 16. A parent or guardian who becomes aware that his or her child under the age of 16 has used the Services may contact us at support@VersaQuant.com and we will attempt to delete the child’s personal information as soon as possible.
How Do I Opt-Out or Correct Information About Me
You may always opt-out of receiving future e-mail messages and newsletters from VersaQuant. We provide you with the opportunity to opt-out of receiving communications from us by going into your profile settings and choosing the appropriate options. To opt-out, you can also send us a message at support@VersaQuant.com. Please note, however, that you generally cannot opt-out of service related announcements, e.g. if the Website is temporarily suspended or if delivery of a product or service is delayed.
Cookies and Similar Technologies Notice
Last Updated: November 12, 2018
Cookies are small data files stored in your browser by a website. They transmit information about your use of the site to its operator or to third parties that placed the cookie. Some cookies are “session cookies” that expire when you close your browser, and others are “persistent cookies” that stay on your computer or mobile device until you delete them.
Our sites and applications use both session and persistent cookies to enable you to sign in and use our sites and applications, store your preferences and settings within them; analyze how they perform, personalize your experience with them, provide interest-based advertising, facilitate social media interaction and for other lawful purposes. We may also use other similar technologies for these purposes, such as web pixels that track browsing activity, social media widgets that facilitate interaction with social media platforms and unique device identifiers. In some cases, these cookies and similar technologies are used by third parties.
The cookies and similar technologies used in our sites are as follows:
Type Description Third Party
Essential Essential to provide you with services available through our sites and to enable you to use some of their features. We cannot provide the services our users request without them. None
Functionality Allow our sites to remember the choices you make when you use our sites. Intended to provide you with a more personal experience and to avoid you having to re-select your preferences every time you visit our sites. Marketo, Hubspot – personalization and forms
Google Tag Manager
Authentication Allow you to log into our sites by using your Google or Facebook account credentials. None
Analytics Collect information about traffic to our sites, and how our users use them, such as the number of visitors, the websites that referred them, the pages they visited, what time of day they visited, whether they have visited before, what features they used and other similar information. We use this information to help operate and improve our sites. Google Analytics. Learn more information about Google Analytics cookies here and about how Google protects your data here. You can prevent the use of Google Analytics relating to your use of our sites by downloading and installing the browser plugin available here.
VWO for A/B testing and behavior
Hotjar for behavior analytics
Segment for traffic analytics
Albacross for traffic analytic
Tealium for traffic analytics
Advertising Used by advertising companies to collect information about how you use our sites and other sites and applications over time. These companies use this information to show you ads they believe will be relevant to you within our sites and elsewhere, and to measure how the ads perform. Facebook Tracking Pixel
LinkedIn Tracking Pixel
Social Media Used by social media widgets that enable “like” buttons and allow you to share content within our sites and applications on social media. Your social media platform may be able to link information or actions about your interactions with our sites and applications to your account with them. LinkedIn
Please see your social media platform’s privacy policies for more details.
Disabling cookies. Most browsers let you remove or reject cookies. To do this, follow the instructions in your browser settings. Many browsers accept cookies by default until you change your settings. For more information about cookies, including how to see what cookies have been set on your computer or mobile device and how to manage and delete them, visit www.allaboutcookies.org. If you do not accept our cookies, you may experience some inconvenience on our sites. For example, you may not be able to store preferences in our sites. If you disable cookies, certain features of our website may not work.
California Civil Code Section 1798.83 permits customers of VersaQuant who are California residents to request certain information regarding its disclosure of their personal information to third parties for their direct marketing purposes. To make such a request, please send an e-mail to support@VersaQuant.com.
For more information about targeting and advertising cookies and how you can opt out, you can visit the Network Advertising Initiative’s opt-out page, the Digital Advertising Alliance’s opt-out page, or http://youronlinechoices.eu.