CCBG Collar Strategy
CCBG (Capital City Bank Group, Inc.), in the Financial Services sector, (Banks - Regional industry), listed on NASDAQ.
Capital City Bank Group, Inc. functions as the financial holding company for Capital City Bank, delivering a comprehensive array of financial services to both individual consumers and businesses. Its commercial offerings encompass financing for business properties, equipment, inventories, and accounts receivable, in addition to commercial leasing, letters of credit, treasury management solutions, and merchant credit card transaction processing. The institution also offers commercial and residential real estate loans, including both fixed and adjustable-rate mortgages for homes, along with personal loans for vehicles, recreational vehicles, and home equity, as well as various credit card options. Furthermore, it delivers specialized institutional banking services to a diverse clientele, including state and local governments, public educational institutions, charities, membership organizations, and non-profit associations. These services feature tailored checking and savings accounts, sophisticated cash management systems, tax-exempt loans, lines of credit, and term financing. For its consumer base, the bank provides a full spectrum of services such as checking and savings accounts, access to interactive and automated teller machines (ATMs/ITMs), debit and credit cards, night deposit boxes, safe deposit facilities, and modern online and mobile banking capabilities.
CCBG (Capital City Bank Group, Inc.) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $895.5M, a trailing P/E of 14.49, a beta of 0.34 versus the broader market, a 52-week range of 38.27-53.6, average daily share volume of 94K, a public-listing history dating back to 1994, approximately 902 full-time employees. These structural characteristics shape how CCBG stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.34 indicates CCBG has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. CCBG pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a collar on CCBG?
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.
CCBG snapshot
As of August 14, 2026, spot at $52.20, ATM IV 26.40%, IV rank 6.42%, expected move 7.57%. The collar on CCBG below is built from the end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this collar structure on CCBG specifically: IV regime affects collar pricing on both sides; compressed CCBG IV at 26.40% typically pushes the short call premium to roughly offset the long put cost, with a market-implied 1-standard-deviation move of approximately 7.57% (roughly $3.95 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CCBG expiries trade a higher absolute premium for lower per-day decay. Position sizing on CCBG should anchor to the underlying notional of $52.20 per share and to the trader's directional view on CCBG stock.
CCBG collar setup
The CCBG 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 CCBG at $52.20 on that close, the first option leg uses a $54.81 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CCBG chain at a 35-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 CCBG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 100 shares | Stock | $52.20 | long |
| Sell 1 | Call | $54.81 | N/A |
| Buy 1 | Put | $49.59 | N/A |
CCBG collar 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 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.
CCBG collar payoff curve
Modeled P&L at expiration across a range of underlying prices for the collar on CCBG. 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 collar on CCBG
Collars on CCBG hedge an existing long CCBG 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.
CCBG thesis for this collar
The market-implied 1-standard-deviation range for CCBG extends from approximately $48.25 on the downside to $56.15 on the upside. A CCBG collar hedges an existing long CCBG 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 CCBG IV rank near 6.42% 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 CCBG at 26.40%. As a Financial Services name, CCBG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CCBG-specific events.
CCBG 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. CCBG positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CCBG alongside the broader basket even when CCBG-specific fundamentals are unchanged. Always rebuild the position from current CCBG chain quotes before placing a trade.
Frequently asked questions
- What is a collar on CCBG?
- A collar on CCBG is the collar strategy applied to CCBG (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 CCBG stock at $52.20 on the most recent close, the strikes shown on this page are snapped to the nearest listed CCBG chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are CCBG 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 CCBG collar priced from the end-of-day chain at a 30-day expiry (ATM IV 26.40%), 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 CCBG collar?
- The breakeven for the CCBG collar priced on this page is no defined breakeven on the modeled curve at expiration, derived from the end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The CCBG market-implied 1-standard-deviation expected move in the same options snapshot is approximately 7.57%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a collar on CCBG?
- Collars on CCBG hedge an existing long CCBG 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 CCBG implied volatility affect this collar?
- CCBG ATM IV is at 26.40% with IV rank near 6.42%, 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.