Trading_skills ib-collar

Generate tactical collar strategy reports for protecting PMCC positions through earnings or high-risk events. Requires TWS or IB Gateway running locally.

install

source · Clone the upstream repo

git clone https://github.com/staskh/trading_skills

Claude Code · Install into ~/.claude/skills/

T=$(mktemp -d) && git clone --depth=1 https://github.com/staskh/trading_skills "$T" && mkdir -p ~/.claude/skills && cp -r "$T/.claude/skills/ib-collar" ~/.claude/skills/staskh-trading-skills-ib-collar && rm -rf "$T"

manifest: .claude/skills/ib-collar/SKILL.md

source content

IB Tactical Collar

Generate a tactical collar strategy report for protecting PMCC positions through earnings or high-risk events.

Prerequisites

User must have TWS or IB Gateway running locally with API enabled:

Paper trading: port 7497
Live trading: port 7496

Instructions

Step 1: Gather Data

uv run python scripts/collar.py SYMBOL [--port PORT] [--account ACCOUNT]

The script returns JSON to stdout with all position and scenario data.

Step 2: Format Report

Read

templates/markdown-template.md

for formatting instructions. Generate a markdown report from the JSON data and save to

sandbox/

Step 3: Report Results

Present key findings to the user: recommended put protection, cost/benefit, and the saved report path.

Arguments

```
SYMBOL
```
- Stock symbol to analyze (must be in portfolio)
```
--port
```
- IB port (default: 7496 for live trading)
```
--account
```
- Specific account ID (optional, searches all accounts)

JSON Output

The script returns JSON with these key fields:

```
symbol
```
,
```
current_price
```
- Basic info
```
long_strike
```
,
```
long_expiry
```
,
```
long_qty
```
,
```
long_cost
```
- LEAPS position
```
short_positions
```
- List of short calls
```
is_proper_pmcc
```
,
```
short_above_long
```
- PMCC health flags
```
earnings_date
```
,
```
days_to_earnings
```
- Earnings timing
```
put_analysis
```
- List of put scenarios with costs and P&L under gap up/flat/down

unprotected_loss_10

unprotected_loss_15

unprotected_gain_10

- LEAPS risk without collar

```
volatility
```
- Historical volatility data

Report Sections

Position Summary: Current PMCC structure (long calls, short calls)
PMCC Health Check: Is structure proper (short > long strike) or broken?
Earnings Risk: Next earnings date and days until event
Put Duration Analysis: Comparison of short vs medium vs long-dated puts
Collar Scenarios: Gap up, flat, gap down outcomes with each put duration
Cost/Benefit Analysis: Insurance cost vs protection value
Implementation Timeline: Step-by-step checklist with dates
Recommendation: Optimal put strike and expiration

Key Concepts

Proper PMCC Structure:

Long deep ITM LEAPS call
Short OTM calls ABOVE long strike
No additional margin required for collar

Broken PMCC Structure:

Long call is now OTM (after crash)
Short calls BELOW long strike require margin
Collar still works but margin implications exist

Tactical Collar:

Buy protective puts ONLY before high-risk events (earnings)
Sell puts after event passes
Balances income generation with crash protection

Put Duration Trade-offs:

Short-dated: Cheaper, more gamma, but zero salvage on gap up
Medium-dated (2-4 weeks): Best balance of cost, gamma, and salvage
Long-dated: Preserves value on gap up, but expensive and less gamma

Example Usage

# Analyze NVDA position (defaults to production port 7496)
uv run python scripts/collar.py NVDA

# Analyze specific account
uv run python scripts/collar.py AMZN --account U790497

# Use paper trading port instead
uv run python scripts/collar.py NVDA --port 7497