Collar Trade
Definition:

Long Stock; Sell At-the-Money or Out-of-the-Money Call; Buy At-the-Money or Out-of-the-Money Put.

Strategy Type:Bullish
Risk:Limited
Gain:Limited
Time Decay Effect:Positive with Upward Price Movement, Negative Otherwise.
Increasing IV Effect:Limited
Profit/Loss by Change in Underlying Common Price

collar