Incyte (INCY) Protective Put Calculator
Calculator · free · no signup · INCYPrice a protective put, zero-cost collar, or put spread on Incyte. Annual cost, max loss, upside cap, tax treatment, auto-filled from current INCY option chain.
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About Incyte
Incyte (INCY) is a public Pharma/Biotech company, incorporated in Delaware and headquartered in Wilmington, DE.
Last close: $115.3 per share (as of 2026-10-03).
Equity grants at Incyte typically include restricted stock units (RSUs).
Incyte Corporation is an American multinational pharmaceutical company with headquarters in Wilmington, Delaware. The company currently operates manufacturing and R&D locations in North America, Europe, and Asia.
Source: Wikipedia (CC BY-SA 4.0)
The company built itself around Jakafi, a JAK inhibitor approved in 2011 for myelofibrosis and later for other conditions, which supplies most of its revenue. That concentration is the central fact of the investment case: the compound's patent life sets a deadline the pipeline has to beat. Research has extended into dermatology and additional oncology indications, some through partnerships that share development cost. Unlike larger peers, the company has neither the scale nor the cash to acquire its way out of a gap. Headquarters are in Wilmington, Delaware.
Sources: sec.gov · en.wikipedia.org
Equity comp at Incyte
- For most employees, unvested RSUs and options continue on their normal schedule through a merger or acquisition if the new owner assumes or replaces the awards, and only accelerate (vest early) if the holder is also let go without cause afterward, the standard double-trigger structure. But if an acquirer does not assume or replace the awards, they vest in full immediately at the deal close, a single-trigger fallback common in biotech merger agreements. Executive Vice Presidents and above have added severance terms: if terminated without cause, or if they resign for a qualifying reason, within 24 months after a change in control, they receive 2x salary plus target bonus and full acceleration of unvested equity. Named executives also receive Performance Shares that cliff vest (all at once, not gradually) on the third anniversary of grant, paying out 0 to 200 percent of target based on Incyte's total shareholder return relative to the Nasdaq Biotechnology Index peer group.
- RSUs use double-trigger vesting. Two things must both happen before the shares are yours: (1) the normal time-based vesting completes, and (2) the company has a liquidity event (an IPO or an acquisition). Until both happen, you do not yet own the shares and you do not owe tax on them.
Sources: sec.gov · sec.gov · sec.gov
Researched 2026-08-23.
OptionsAhoy is an independent tool and is not affiliated with, endorsed by, or sponsored by Incyte.
A protective put caps your downside on the INCY position at a chosen floor; a zero-cost collar pays for that floor by capping the upside. This calculator prices both structures off the current INCY option chain, with annual cost, max loss, and tax-treatment notes.
Example: a 5,000-share INCY position at $115.3 is worth $576,500. A 1-year 30%-OTM put on that position typically runs 2-4% of position value per year (about $11,530 to $23,060) before any premium offset from a short call. The calculator prices both structures off INCY's current option chain so you see the actual cost for your chosen floor, tenor, and cap.
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Incyte equity questions
- How much does it cost to hedge INCY stock?
- The cost of a protective put depends on how far below the current price you set the floor, how long the protection lasts, and INCY's option-implied volatility. A zero-cost collar lowers that cost by selling away some upside. The calculator above prices both structures off the current INCY option chain and shows the annual cost, maximum loss, and tax treatment.
- Does Incyte grant ISOs, NSOs, or RSUs?
- Equity compensation at Incyte typically takes the form of restricted stock units (RSUs). Restricted stock units are taxed as ordinary income when they vest.
- Do Incyte RSUs use double-trigger vesting?
- Yes. Incyte restricted stock units (RSUs) vest only when two things both happen: the time-based schedule completes, and the company has a liquidity event such as an initial public offering (IPO) or an acquisition. Until both occur you do not own the shares and owe no tax on them.
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