CCB Collar Strategy
CCB (Coastal Financial Corporation), in the Financial Services sector, (Banks - Regional industry), listed on NASDAQ.
Coastal Financial Corporation operates as the bank holding company for Coastal Community Bank that provides various banking products and services to small to medium-sized businesses, professionals, and individuals in the Puget Sound region in Washington. It accepts a range of deposit products, including demand and savings accounts, time deposits, and money market accounts. The company offers commercial and industrial loans, including term loans, small business administration loans, commercial lines of credit, working capital loans, equipment financing, borrowing base loans, and other loan products; owner-occupied and non-owner-occupied real estate loans, and multi-family residential loans; construction and land development loans; residential real estate loans; and consumer and other loans, including automobile, boat and recreational vehicle, and secured term loans, as well as overdraft protection. It also provides remote deposit capture, online and mobile banking, and direct and reciprocal deposit services, as well as debit cards. In addition, the company offers business accounts and cash management services, including business checking and savings accounts, and treasury services, as well as banking as a service (BaaS), a platform that allows broker dealers and digital financial service providers to offer their clients banking services. It operates 14 full-service banking locations.
CCB (Coastal Financial Corporation) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $1.04B, a trailing P/E of 20.93, a beta of 0.76 versus the broader market, a 52-week range of 66.5-120.05, average daily share volume of 168K, a public-listing history dating back to 2018, approximately 488 full-time employees. These structural characteristics shape how CCB stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.76 places CCB roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline.
What is a collar on CCB?
A collar pairs long stock with a protective out-of-the-money put financed by a short out-of-the-money call, capping both tails of the position around the current spot.
Current CCB snapshot
As of May 15, 2026, spot at $68.88, ATM IV 45.20%, IV rank 4.49%, expected move 12.96%. The collar on CCB 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 63-day expiry.
Why this collar structure on CCB specifically: IV regime affects collar pricing on both sides; compressed CCB IV at 45.20% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 12.96% (roughly $8.93 on the underlying). The 63-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CCB expiries trade a higher absolute premium for lower per-day decay. Position sizing on CCB should anchor to the underlying notional of $68.88 per share and to the trader's directional view on CCB stock.
CCB collar setup
The CCB collar below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With CCB near $68.88, the first option leg uses a $70.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CCB chain at a 63-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 CCB shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $68.88 | long |
| Sell 1 | Call | $70.00 | $5.30 |
| Buy 1 | Put | $65.00 | $3.53 |
CCB collar risk and reward
- Net Premium / Debit
- -$6,710.50
- Max Profit (per contract)
- $289.50
- Max Loss (per contract)
- -$210.50
- Breakeven(s)
- $67.11
- Risk / Reward Ratio
- 1.375
Max profit roughly equals short-call strike minus cost basis plus net premium; max loss roughly equals cost basis minus long-put strike minus net premium. Breakeven shifts by the net premium.
CCB collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on CCB. 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.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | -$210.50 |
| $15.24 | -77.9% | -$210.50 |
| $30.47 | -55.8% | -$210.50 |
| $45.70 | -33.7% | -$210.50 |
| $60.92 | -11.5% | -$210.50 |
| $76.15 | +10.6% | +$289.50 |
| $91.38 | +32.7% | +$289.50 |
| $106.61 | +54.8% | +$289.50 |
| $121.84 | +76.9% | +$289.50 |
| $137.07 | +99.0% | +$289.50 |
When traders use collar on CCB
Collars on CCB hedge an existing long CCB stock position; the long put sets a floor while the short call finances it, often run as a near-zero-cost hedge during expected volatility windows.
CCB thesis for this collar
The market-implied 1-standard-deviation range for CCB extends from approximately $59.95 on the downside to $77.81 on the upside. A CCB collar hedges an existing long CCB position with a protective put while financing the put cost via a short call; when the premiums roughly offset, the collar acts as a near-zero-cost insurance band around the current spot. Current CCB IV rank near 4.49% 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 CCB at 45.20%. As a Financial Services name, CCB options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CCB-specific events.
CCB collar positions are structurally neutral (protective); 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. CCB positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CCB alongside the broader basket even when CCB-specific fundamentals are unchanged. Always rebuild the position from current CCB chain quotes before placing a trade.
Frequently asked questions
- What is a collar on CCB?
- A collar on CCB is the collar strategy applied to CCB (stock). The strategy is structurally neutral (protective): A collar pairs long stock with a protective out-of-the-money put financed by a short out-of-the-money call, capping both tails of the position around the current spot. With CCB stock trading near $68.88, the strikes shown on this page are snapped to the nearest listed CCB chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CCB collar max profit and max loss calculated?
- Max profit roughly equals short-call strike minus cost basis plus net premium; max loss roughly equals cost basis minus long-put strike minus net premium. Breakeven shifts by the net premium. For the CCB collar priced from the end-of-day chain at a 30-day expiry (ATM IV 45.20%), the computed maximum profit is $289.50 per contract and the computed maximum loss is -$210.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CCB collar?
- The breakeven for the CCB collar priced on this page is roughly $67.11 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 CCB market-implied 1-standard-deviation expected move is approximately 12.96%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on CCB?
- Collars on CCB hedge an existing long CCB stock position; the long put sets a floor while the short call finances it, often run as a near-zero-cost hedge during expected volatility windows.
- How does current CCB implied volatility affect this collar?
- CCB ATM IV is at 45.20% with IV rank near 4.49%, 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.