BCML Cash-Secured Put Strategy

BCML (BayCom Corp), in the Financial Services sector, (Banks - Regional industry), listed on NASDAQ.

BayCom Corp operates as the bank holding company for United Business Bank that provides various financial services to small and mid-sized businesses, service professionals, and individuals. The company offers demand, savings, money market, and time deposit accounts. It also provides commercial and multifamily real estate loans, including owner-occupied and investor real estate loans; commercial and industrial loans, such as equipment loans and working capital lines of credit; small business administration loans; construction and land loans; agriculture-related loans; and consumer loans comprising installment loans, unsecured and secured personal lines of credit, and overdraft protection. In addition, the company offers online and mobile banking, automated teller machine, remote deposit capture, night depository, courier, direct deposit, treasury management, wire transfer, automated clearing house services, debit cards, cashier's and travelers checks, letters of credit, lockbox, positive pay, reverse positive pay, and account reconciliation services, as well as zero balance accounts and sweep accounts, including loan sweep. As of December 31, 2021, it operated through a network of 33 full-service banking branches in Northern and Southern California; Denver, Colorado; Custer, Delta, and Grand counties, Colorado; and Seattle, Washington and Central New Mexico. The company was formerly known as Bay Commercial Bank and changed its name to BayCom Corp in January 2017.

BCML (BayCom Corp) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $331.2M, a trailing P/E of 12.54, a beta of 0.28 versus the broader market, a 52-week range of 25.84-33.15, average daily share volume of 36K, a public-listing history dating back to 2005, approximately 320 full-time employees. These structural characteristics shape how BCML stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.28 indicates BCML has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. BCML pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.

What is a cash-secured put on BCML?

A cash-secured put sells an out-of-the-money put while holding cash equal to the strike-times-100 obligation, keeping the premium when the underlying stays above the strike.

Current BCML snapshot

As of May 15, 2026, spot at $29.88, ATM IV 48.70%, IV rank 15.70%, expected move 13.96%. The cash-secured put on BCML below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 34-day expiry.

Why this cash-secured put structure on BCML specifically: BCML IV at 48.70% is on the cheap side of its 1-year range, which means a premium-selling BCML cash-secured put collects less credit per unit of strike-width risk, with a market-implied 1-standard-deviation move of approximately 13.96% (roughly $4.17 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated BCML expiries trade a higher absolute premium for lower per-day decay. Position sizing on BCML should anchor to the underlying notional of $29.88 per share and to the trader's directional view on BCML stock.

BCML cash-secured put setup

The BCML cash-secured put below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With BCML near $29.88, the first option leg uses a $28.39 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed BCML chain at a 34-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 BCML shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$28.39N/A

BCML cash-secured put risk and reward

Net Premium / Debit
N/A
Max Profit (per contract)
Unbounded
Max Loss (per contract)
Unbounded
Breakeven(s)
None on modeled curve
Risk / Reward Ratio
N/A

Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.

BCML cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put on BCML. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.

When traders use cash-secured put on BCML

Cash-secured puts on BCML earn premium while a trader waits to acquire BCML stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning BCML.

BCML thesis for this cash-secured put

The market-implied 1-standard-deviation range for BCML extends from approximately $25.71 on the downside to $34.05 on the upside. A BCML cash-secured put lets a trader earn premium while waiting to acquire BCML at the strike price; the strategy is most attractive when the trader is comfortable holding the underlying at that level and IV is rich enough to compensate for the assignment risk. Current BCML IV rank near 15.70% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on BCML at 48.70%. As a Financial Services name, BCML options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to BCML-specific events.

BCML cash-secured put positions are structurally neutral to slightly bullish; the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. BCML positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move BCML alongside the broader basket even when BCML-specific fundamentals are unchanged. Short-premium structures like a cash-secured put on BCML carry tail risk when realized volatility exceeds the implied move; review historical BCML earnings reactions and macro stress periods before sizing. Always rebuild the position from current BCML chain quotes before placing a trade.

Frequently asked questions

What is a cash-secured put on BCML?
A cash-secured put on BCML is the cash-secured put strategy applied to BCML (stock). The strategy is structurally neutral to slightly bullish: A cash-secured put sells an out-of-the-money put while holding cash equal to the strike-times-100 obligation, keeping the premium when the underlying stays above the strike. With BCML stock trading near $29.88, the strikes shown on this page are snapped to the nearest listed BCML chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are BCML cash-secured put max profit and max loss calculated?
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium. For the BCML cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 48.70%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a BCML cash-secured put?
The breakeven for the BCML cash-secured put priced on this page is no defined breakeven on the modeled curve at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current BCML market-implied 1-standard-deviation expected move is approximately 13.96%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a cash-secured put on BCML?
Cash-secured puts on BCML earn premium while a trader waits to acquire BCML stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning BCML.
How does current BCML implied volatility affect this cash-secured put?
BCML ATM IV is at 48.70% with IV rank near 15.70%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.

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