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. functions as the parent entity for John Marshall Bank, which offers a comprehensive array of banking products and financial services. The institution provides various deposit options, including checking, demand, NOW, savings, and money market accounts, as well as certificates of deposit. For its clientele, the bank extends diverse lending solutions, such as commercial loans, construction and development financing, commercial term loans, mortgage services, commercial real estate loans, and a range of industrial and other commercial lines of credit. Beyond core lending and deposit products, John Marshall Bank also furnishes essential financial tools like debit and credit cards, alongside specialized services such as treasury and cash management, investment offerings, business and personal insurance, remote deposit capture, deposit sweep, and convenient online and mobile banking platforms. The bank's customer base is broad, catering to small to medium-sized businesses, their owners and employees, professional corporations, non-profit organizations, and individual clients. Established in 2005, John Marshall Bancorp, Inc. has its headquarters in Reston, Virginia.
JMSB (John Marshall Bancorp, Inc.) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $327.5M, a trailing P/E of 13.41, a beta of 0.42 versus the broader market, a 52-week range of 18.5-24.26, average daily share volume of 44K, a public-listing history dating back to 2017, approximately 140 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 0.42 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.
JMSB snapshot
As of August 14, 2026, spot at $23.30, ATM IV 64.10%, IV rank 20.52%, expected move 18.38%. The bear put spread on JMSB 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 bear put spread structure on JMSB specifically: JMSB IV at 64.10% is on the cheap side of its 1-year range, which favors premium-buying structures like a JMSB bear put spread, with a market-implied 1-standard-deviation move of approximately 18.38% (roughly $4.28 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 JMSB expiries trade a higher absolute premium for lower per-day decay. Position sizing on JMSB should anchor to the underlying notional of $23.30 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 at $23.30 on that close, the first option leg uses a $23.30 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 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 JMSB shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $23.30 | N/A |
| Sell 1 | Put | $22.13 | 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 $19.02 on the downside to $27.58 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 20.52% 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 JMSB at 64.10%. 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 at $23.30 on the most recent close, the strikes shown on this page are snapped to the nearest listed JMSB chain strike and the premiums come straight from that session's 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 64.10%), 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 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 JMSB market-implied 1-standard-deviation expected move in the same options snapshot is approximately 18.38%; 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 64.10% with IV rank near 20.52%, 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.