Phillips 66 (PSX) Protective Put Calculator

Calculator · free · no signup · PSX

Price a protective put, zero-cost collar, or put spread on Phillips 66. Annual cost, max loss, upside cap, tax treatment, auto-filled from current PSX option chain.

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About Phillips 66

Phillips 66 (PSX) is a public Energy company, incorporated in Delaware and headquartered in Houston, TX.

Last close: $243.49 per share (as of 2026-08-19).

Equity grants at Phillips 66 typically include restricted stock units (RSUs).

The Phillips 66 Company is an American multinational energy company headquartered in Westchase, Houston, Texas. Its name, dating back to 1927 as a trademark of the Phillips Petroleum Company, assisted in establishing the newly reconfigured Phillips 66. The company today was formed ten years after Phillips merged with Conoco to form ConocoPhillips. The merged company spun off its refining, chemical, and retail assets – known in the oil industry as downstream operations – into a new company bearing the Phillips 66 name. It began trading on the New York Stock Exchange on May 1, 2012, under the ticker PSX.

Source: Wikipedia (CC BY-SA 4.0)

ConocoPhillips separated its refining, marketing, and midstream businesses in 2012 to create the company, which refines crude and markets fuel under the Phillips 66, Conoco, and 76 brands. Refining margins are volatile, so the chemicals joint venture with Chevron and the midstream segment are held partly to dampen that swing. Renewable fuel conversion at existing refineries responds to policy incentives. Activist pressure has centered on whether the midstream assets should be separated. Headquarters are in Houston.

Sources: sec.gov · en.wikipedia.org

OptionsAhoy is an independent tool and is not affiliated with, endorsed by, or sponsored by Phillips 66.

A protective put caps your downside on the PSX 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 PSX option chain, with annual cost, max loss, and tax-treatment notes.

Example: a 5,000-share PSX position at $243.49 is worth $1,217,450. A 1-year 30%-OTM put on that position typically runs 2-4% of position value per year (about $24,349 to $48,698) before any premium offset from a short call. The calculator prices both structures off PSX's current option chain so you see the actual cost for your chosen floor, tenor, and cap.

All Phillips 66 tools → · Use the generic Protect Your Stock Calculator for any company.

Phillips 66 equity questions

How much does it cost to hedge PSX 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 PSX'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 PSX option chain and shows the annual cost, maximum loss, and tax treatment.
Does Phillips 66 grant ISOs, NSOs, or RSUs?
Equity compensation at Phillips 66 typically takes the form of restricted stock units (RSUs). Restricted stock units are taxed as ordinary income when they vest.
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