Wealth Manager writes:

The Options Industry Council (OIC) released a study, “Loosening Your Collar: Alternative Implementations of QQQ Collars,” citing the advantages of using options collars to boost performance and reduce risk in investment portfolios.

Options-based strategies to reduce risk and boost relative performance in a down market are not new. This study, though, covers a 10-year period from March 1999 to May 2009, including the current crisis and the technology boom [sic] and bust.

Take a look at the chart. During my time as a hedge fund analyst I saw such charts every second day. Stellar outperformance when looking at backtests (i.e. hypothetical performance after the fact) and flat since inception (in this case probably Feb. 2004). Yawn. And keep in mind that this study is 100% backtest. So with a different collar strategy you might have performed worse.

Get used to it. You can't invest in something with a risk premium, hedge the risk and expect... a risk premium! Due to transaction costs you will earn less then the risk free rate. Sorry, markets are more efficient than you might think.