QQQ portfolio with collar hedging

This document analyzes various collar strategies applied to the QQQ ETF, drawing from multiple research papers. These papers investigate both passive and active collar approaches, exploring different strike prices for options, time horizons, and methodologies for dynamically adjusting collar parameters based on market signals. The research highlights the potential for collar strategies to reduce portfolio volatility and maximum drawdown, but at the cost of reduced upside participation. Active strategies, which adjust the collar parameters based on market momentum, volatility and macroeconomic indicators, demonstrate potential for enhanced risk-adjusted returns relative to passive implementations.