For "Costless" Collar we have a term and definition in Derivatives.

"Costless" Collar (Derivatives)

Definition: A Collar (q.v.) in which the proceeds of the sale of the short Call option exactly finance the purchase of the long Put option.
Application: This strategy helps a trader get close to "flat". This can be particularly useful for a money manager who is close to having a good measurement period and doesn't want to screw it up in the last moment. Also, it may be a good tax play for an investor who really wants to sell out, but doesn't want to pay capital gains taxes.
Comment: The term may mislead beginners in Derivatives markets, who might take it at face value. However, of course, the dealer or market maker wouldn't do the trade at no cost. In fact, the cost is roughly the bid-ask spread of one of the Collar's component options. Particularly in OTC option markets, the name, "Costly Collar", would be more appropriate, because bid-ask spreads require the buyer to give up much upside participation for little downside protection.

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