What's my max profit, max loss, and breakeven on a protective collar?

How this is calculated

• A collar is stock you already own (or are buying), plus a short call sold above the price and a long put bought below the price. It caps your upside and floors your downside at the same time.
• Your effective cost basis is the stock price plus the put premium you paid, minus the call premium you received.
• Max profit per share is the call strike minus your effective cost basis. Price above the call strike still only pays out to the strike, because your shares get called away.
• Max loss per share is your effective cost basis minus the put strike. Price below the put strike is fully protected, because you can exercise the put.
• Breakeven is your effective cost basis. Below it, the position shows an unrealized loss until the put's protection floors it at the max loss.
• This calculator does not account for early assignment on the short call, dividends, or commissions, and assumes the position is held through expiration.