JMSB Bear Put Spread Strategy
JMSB (John Marshall Bancorp, Inc.), in the Financial Services sector, (Banks - Regional industry), listed on NASDAQ.
John Marshall Bancorp, Inc. operates as the bank holding company for John Marshall Bank that provides banking products and financial services. The company accepts checking, demand, NOW, savings, and money market accounts, as well as certificates of deposit. It offers commercial, construction and development, commercial term, mortgage, commercial real estate, industrial other commercial lines of credit; debit and credit cards; and treasury and cash management, investment, business and personal insurance, remote deposit capture, deposit sweep and online and mobile banking services. The company serves small to medium-sized businesses, their owners and employees, professional corporations, non-profits, and individuals. It operates eight full-service branches in Alexandria, Reston, Arlington, Washington, Loudoun, Prince William, Rockville, and Tysons, as well as a loan production office in Arlington, Virginia. The company was founded in 2005 and is headquartered in Reston, Virginia.
JMSB (John Marshall Bancorp, Inc.) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $290.7M, a trailing P/E of 12.92, a beta of 0.43 versus the broader market, a 52-week range of 16.27-22.1, average daily share volume of 35K, a public-listing history dating back to 2017, approximately 136 full-time employees. These structural characteristics shape how JMSB stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.43 indicates JMSB has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. JMSB pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a bear put spread on JMSB?
A bear put spread buys an at-the-money put and sells an out-of-the-money put at a lower strike for defined risk and defined reward bounded by the strike width.
Current JMSB snapshot
As of May 15, 2026, spot at $20.76, ATM IV 71.50%, IV rank 34.02%, expected move 20.50%. The bear put spread on JMSB 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 bear put spread structure on JMSB specifically: JMSB IV at 71.50% is mid-range versus its 1-year history, so strategy selection should anchor more to the directional thesis than to the IV regime, with a market-implied 1-standard-deviation move of approximately 20.50% (roughly $4.26 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 JMSB expiries trade a higher absolute premium for lower per-day decay. Position sizing on JMSB should anchor to the underlying notional of $20.76 per share and to the trader's directional view on JMSB stock.
JMSB bear put spread setup
The JMSB bear put spread below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With JMSB near $20.76, the first option leg uses a $20.76 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed JMSB 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 JMSB shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $20.76 | N/A |
| Sell 1 | Put | $19.72 | N/A |
JMSB bear put spread 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 strike width minus net debit times 100; max loss equals net debit times 100. Breakeven is long-put strike minus net debit.
JMSB bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on JMSB. 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 bear put spread on JMSB
Bear put spreads on JMSB reduce the cost of a bearish JMSB stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
JMSB thesis for this bear put spread
The market-implied 1-standard-deviation range for JMSB extends from approximately $16.50 on the downside to $25.02 on the upside. A JMSB bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on JMSB, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current JMSB IV rank near 34.02% is mid-range against its 1-year distribution, so the IV signal is neutral; the bear put spread thesis on JMSB should anchor more to the directional view and the expected-move geometry. As a Financial Services name, JMSB options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to JMSB-specific events.
JMSB bear put spread positions are structurally moderately bearish; 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. JMSB positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move JMSB alongside the broader basket even when JMSB-specific fundamentals are unchanged. Long-premium structures like a bear put spread on JMSB are particularly exposed to IV-crush risk through scheduled events (earnings, FDA decisions, central-bank meetings) where IV typically contracts post-event regardless of the directional outcome. Always rebuild the position from current JMSB chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on JMSB?
- A bear put spread on JMSB is the bear put spread strategy applied to JMSB (stock). The strategy is structurally moderately bearish: A bear put spread buys an at-the-money put and sells an out-of-the-money put at a lower strike for defined risk and defined reward bounded by the strike width. With JMSB stock trading near $20.76, the strikes shown on this page are snapped to the nearest listed JMSB chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are JMSB bear put spread max profit and max loss calculated?
- Max profit equals strike width minus net debit times 100; max loss equals net debit times 100. Breakeven is long-put strike minus net debit. For the JMSB bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 71.50%), 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 JMSB bear put spread?
- The breakeven for the JMSB bear put spread 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 JMSB market-implied 1-standard-deviation expected move is approximately 20.50%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a bear put spread on JMSB?
- Bear put spreads on JMSB reduce the cost of a bearish JMSB stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
- How does current JMSB implied volatility affect this bear put spread?
- JMSB ATM IV is at 71.50% with IV rank near 34.02%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.