Inaugural Week of COLL June 2026 Options Trading
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Nov 07 2025
0mins
Should l Buy COLL?
Source: NASDAQ.COM
Put Contract Overview: The $30.00 put contract for COLL has a bid of 30 cents, allowing investors to buy shares at a cost basis of $29.70, which is a 30% discount from the current price of $42.88. There is an 86% chance the contract may expire worthless, offering a potential 1.00% return on cash commitment.
Call Contract Overview: The $45.00 call contract has a bid of $3.60, and if shares are purchased at $42.88 and the call is sold, it could yield a total return of 13.34% if exercised by June 2026. There is a 50% chance this contract may also expire worthless, allowing the investor to keep both the shares and the premium.
YieldBoost Calculation: If the put contract expires worthless, it would provide a YieldBoost of 1.64% annualized, while the covered call could yield an 8.40% boost, or 13.74% annualized, if it also expires worthless.
Volatility Insights: The implied volatility for the put contract is 52%, while for the call contract it is 40%. The actual trailing twelve-month volatility is calculated at 39%, based on the last 250 trading days.
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Analyst Views on COLL
Wall Street analysts forecast COLL stock price to rise
4 Analyst Rating
4 Buy
0 Hold
0 Sell
Strong Buy
Current: 45.280
Low
55.00
Averages
56.75
High
60.00
Current: 45.280
Low
55.00
Averages
56.75
High
60.00
About COLL
Collegium Pharmaceutical, Inc. is a diversified biopharmaceutical company. The Company has developed, licensed, and acquired a portfolio of products for use in the treatment of attention deficit hyperactivity disorder (ADHD) and moderate to severe pain. Its commercial products include Jornay PM (Jornay), Belbuca, Xtampza ER (Xtampza), Nucynta ER and Nucynta IR (Nucynta Products), and Symproic in the United States. Its Jornay is a central nervous system (CNS) stimulant prescription medicine for the treatment of ADHD. The Belbuca is a buccal film that contains buprenorphine for severe and persistent pain. Xtampza ER is an abuse-deterrent, extended-release, oral formulation of oxycodone. The Xtampza ER is a pain treatment option designed with abuse deterrent properties. The Nucynta Products are ER and IR oral formulations of tapentadol. Nucynta ER is indicated for the management of severe and persistent pain that requires an extended treatment period with a daily opioid analgesic.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Collegium Pharmaceutical EVP Scott Dreyer Sells 17,600 Shares for ~$847,800
- Executive Transaction Overview: On December 8, 2025, Collegium Pharmaceutical's EVP Scott Dreyer exercised options and immediately sold 17,600 common shares for approximately $847,800, indicating a strategic liquidity management approach by the executive.
- Holding Change Analysis: Following the transaction, Dreyer's direct holdings remained at 103,613 shares, reflecting no net gain in ownership and demonstrating confidence in the company's long-term prospects.
- Trading Plan Context: The transaction was executed under a Rule 10b5-1 trading plan adopted on September 3, 2025, indicating that Dreyer's sale was prearranged rather than discretionary, which mitigates market speculation regarding his motivations.
- Company Financial Outlook: Collegium Pharmaceutical showed strong performance in 2025 and is expected to benefit from the success of its ADHD and pain medication portfolio in 2026, with adjusted EBITDA expectations raised from $455 million to $475 million, highlighting the company's growth potential.
See More
Collegium Pharmaceutical EVP Dreyer Sells 17,600 Shares for ~$847,800
- Insider Sale: Collegium Pharmaceutical's EVP Scott Dreyer sold 17,600 shares through options exercise for approximately $847,800, reducing his direct holdings to 103,613 shares, indicating a liquidity need despite the company's strong performance.
- Stock Surge: COLL shares surged nearly 60% in 2025, reaching an all-time high of $50.79 on December 29, reflecting strong market confidence in the company's ADHD and pain medication portfolio, which is expected to drive future growth.
- Upgraded Financial Outlook: Collegium raised its Q4 2025 adjusted EBITDA guidance from $455 million to $475 million, with Q1-Q3 EBITDA already at $401.18 million, showcasing the company's sustained financial strength.
- Compliance with Trading Plan: Dreyer's share sale was executed under a 10b5-1 trading plan, indicating compliance with regulations and alleviating concerns over insider trading, while also laying a foundation for the company's future growth.
See More
Collegium Projects 2026 Product Revenues Between $805 Million and $825 Million
- Financial Outlook: Collegium expects product net revenues for 2026 to range between $805 million and $825 million, reflecting sustained growth in ADHD and pain management, particularly driven by strong performance from Jornay PM.
- EBITDA Projections: Adjusted EBITDA is anticipated to be between $455 million and $475 million, which will support the company's future capital deployment and shareholder returns due to its robust profitability metrics.
- Successful Financing: Collegium successfully closed a $980 million credit facility, with $581 million used to repay previous loans, resulting in significant annual interest savings and enhancing the company's financial flexibility.
- Market Expansion: The agreement with Hikma Pharmaceuticals will allow Hikma to exclusively sell Collegium's authorized generic versions in the U.S., expected to launch in Q1 2026, further expanding the company's market share and revenue streams.
See More
Collegium Pharmaceutical Closes $980 Million Credit Facility, Enhancing Debt Structure
- Successful Credit Financing: Collegium Pharmaceutical has successfully closed its inaugural $980 million credit facility, which includes a $580 million initial term loan, significantly improving the company's debt terms and expected to yield substantial annual interest savings.
- Debt Repayment: The initial term loan was utilized to repay approximately $581 million of the remaining balance on the previous loan, ensuring financial stability and providing funding support for future business development.
- Flexible Capital Utilization: The undrawn $300 million delayed draw term loan and $100 million revolving credit facility will be used for general corporate purposes, enhancing the company's flexibility in future business expansion.
- Interest Rate Advantage: The new credit facility bears an interest rate of SOFR plus 2.75%, which, compared to previous financing conditions, will lower the financing costs and improve the overall financial health of the company.
See More
Collegium Pharmaceutical Closes $980 Million Credit Facility, Enhancing Debt Structure
- Successful Financing: Collegium Pharmaceutical has successfully closed its inaugural $980 million credit facility, which includes a $580 million initial term loan, significantly improving the company's debt terms and is expected to yield substantial annual interest savings.
- Debt Repayment: The new loan was utilized to repay approximately $581 million of the remaining balance on the previous loan, ensuring financial stability and enhancing future capital flexibility for the company.
- Use of Funds: The undrawn $300 million delayed draw term loan and $100 million revolving credit facility are earmarked for general corporate purposes, including partial funding for future business development opportunities, supporting the company's strategic expansion.
- Interest Rate Advantage: The new credit facility bears an interest rate of SOFR plus 2.75%, which is more competitive than previous financing terms, and is expected to provide long-term financial benefits to the company.
See More
Top Value Stocks to Consider Purchasing on December 18
Kimball Electronics: This electronics manufacturing company has a Zacks Rank #1 and a P/E ratio of 21.53, with a recent earnings estimate increase of 8.8% over the last 60 days, earning a Value Score of A.
Collegium Pharmaceutical: A specialty pharmaceutical company also holding a Zacks Rank #1, it has a P/E ratio of 6.45 and a 6.6% increase in earnings estimates over the past 60 days, achieving a Value Score of A.
James River Group Holdings: This specialty insurance company carries a Zacks Rank #1, with a P/E ratio of 6.30 and a 10.5% increase in earnings estimates in the last 60 days, earning a Value Score of B.
Investment Insights: Zacks Investment Research is set to release its top 10 stock picks for 2026 on January 5, following a historical performance that significantly outperformed the S&P 500.
See More
Collegium Pharmaceutical EVP Scott Dreyer Sells 17,600 Shares for ~$847,800
- Executive Transaction Overview: On December 8, 2025, Collegium Pharmaceutical's EVP Scott Dreyer exercised options and immediately sold 17,600 common shares for approximately $847,800, indicating a strategic liquidity management approach by the executive.
- Holding Change Analysis: Following the transaction, Dreyer's direct holdings remained at 103,613 shares, reflecting no net gain in ownership and demonstrating confidence in the company's long-term prospects.
- Trading Plan Context: The transaction was executed under a Rule 10b5-1 trading plan adopted on September 3, 2025, indicating that Dreyer's sale was prearranged rather than discretionary, which mitigates market speculation regarding his motivations.
- Company Financial Outlook: Collegium Pharmaceutical showed strong performance in 2025 and is expected to benefit from the success of its ADHD and pain medication portfolio in 2026, with adjusted EBITDA expectations raised from $455 million to $475 million, highlighting the company's growth potential.
See More
Collegium Pharmaceutical EVP Dreyer Sells 17,600 Shares for ~$847,800
- Insider Sale: Collegium Pharmaceutical's EVP Scott Dreyer sold 17,600 shares through options exercise for approximately $847,800, reducing his direct holdings to 103,613 shares, indicating a liquidity need despite the company's strong performance.
- Stock Surge: COLL shares surged nearly 60% in 2025, reaching an all-time high of $50.79 on December 29, reflecting strong market confidence in the company's ADHD and pain medication portfolio, which is expected to drive future growth.
- Upgraded Financial Outlook: Collegium raised its Q4 2025 adjusted EBITDA guidance from $455 million to $475 million, with Q1-Q3 EBITDA already at $401.18 million, showcasing the company's sustained financial strength.
- Compliance with Trading Plan: Dreyer's share sale was executed under a 10b5-1 trading plan, indicating compliance with regulations and alleviating concerns over insider trading, while also laying a foundation for the company's future growth.
See More
Collegium Projects 2026 Product Revenues Between $805 Million and $825 Million
- Financial Outlook: Collegium expects product net revenues for 2026 to range between $805 million and $825 million, reflecting sustained growth in ADHD and pain management, particularly driven by strong performance from Jornay PM.
- EBITDA Projections: Adjusted EBITDA is anticipated to be between $455 million and $475 million, which will support the company's future capital deployment and shareholder returns due to its robust profitability metrics.
- Successful Financing: Collegium successfully closed a $980 million credit facility, with $581 million used to repay previous loans, resulting in significant annual interest savings and enhancing the company's financial flexibility.
- Market Expansion: The agreement with Hikma Pharmaceuticals will allow Hikma to exclusively sell Collegium's authorized generic versions in the U.S., expected to launch in Q1 2026, further expanding the company's market share and revenue streams.
See More
Collegium Pharmaceutical Closes $980 Million Credit Facility, Enhancing Debt Structure
- Successful Credit Financing: Collegium Pharmaceutical has successfully closed its inaugural $980 million credit facility, which includes a $580 million initial term loan, significantly improving the company's debt terms and expected to yield substantial annual interest savings.
- Debt Repayment: The initial term loan was utilized to repay approximately $581 million of the remaining balance on the previous loan, ensuring financial stability and providing funding support for future business development.
- Flexible Capital Utilization: The undrawn $300 million delayed draw term loan and $100 million revolving credit facility will be used for general corporate purposes, enhancing the company's flexibility in future business expansion.
- Interest Rate Advantage: The new credit facility bears an interest rate of SOFR plus 2.75%, which, compared to previous financing conditions, will lower the financing costs and improve the overall financial health of the company.
See More
Collegium Pharmaceutical Closes $980 Million Credit Facility, Enhancing Debt Structure
- Successful Financing: Collegium Pharmaceutical has successfully closed its inaugural $980 million credit facility, which includes a $580 million initial term loan, significantly improving the company's debt terms and is expected to yield substantial annual interest savings.
- Debt Repayment: The new loan was utilized to repay approximately $581 million of the remaining balance on the previous loan, ensuring financial stability and enhancing future capital flexibility for the company.
- Use of Funds: The undrawn $300 million delayed draw term loan and $100 million revolving credit facility are earmarked for general corporate purposes, including partial funding for future business development opportunities, supporting the company's strategic expansion.
- Interest Rate Advantage: The new credit facility bears an interest rate of SOFR plus 2.75%, which is more competitive than previous financing terms, and is expected to provide long-term financial benefits to the company.
See More
Top Value Stocks to Consider Purchasing on December 18
Kimball Electronics: This electronics manufacturing company has a Zacks Rank #1 and a P/E ratio of 21.53, with a recent earnings estimate increase of 8.8% over the last 60 days, earning a Value Score of A.
Collegium Pharmaceutical: A specialty pharmaceutical company also holding a Zacks Rank #1, it has a P/E ratio of 6.45 and a 6.6% increase in earnings estimates over the past 60 days, achieving a Value Score of A.
James River Group Holdings: This specialty insurance company carries a Zacks Rank #1, with a P/E ratio of 6.30 and a 10.5% increase in earnings estimates in the last 60 days, earning a Value Score of B.
Investment Insights: Zacks Investment Research is set to release its top 10 stock picks for 2026 on January 5, following a historical performance that significantly outperformed the S&P 500.
See More
