OBK Bear Put Spread Strategy
OBK (Origin Bancorp, Inc.), in the Financial Services sector, (Banks - Regional industry), listed on NYSE.
Origin Bancorp, Inc. operates as a bank holding company for Origin Bank that provides banking and financial services to small and medium-sized businesses, municipalities, and retail clients in Texas, Louisiana, and Mississippi. It offers noninterest and interest-bearing checking accounts, savings deposits, money market accounts, and time deposits; and offers commercial real estate, construction and land development, consumer, residential real estate, commercial and industrial, mortgage warehouse, residential mortgage, and paycheck protection program loans. The company also offers personal and commercial property, and casualty insurance products; and Internet banking and voice response information, mobile applications, cash management, overdraft protection, direct deposit, safe deposit box, U.S. savings bonds, and automatic account transfer services; and treasury management, mortgage origination and servicing facilities, peer-to-peer electronic pay solutions, and personal financial management solutions. The company was founded in 1912 and is headquartered in Ruston, Louisiana.
OBK (Origin Bancorp, Inc.) trades in the Financial Services sector, specifically Banks - Regional, with a market capitalization of approximately $1.41B, a trailing P/E of 17.58, a beta of 0.73 versus the broader market, a 52-week range of 32.125-48.12, average daily share volume of 185K, a public-listing history dating back to 2018, approximately 1K full-time employees. These structural characteristics shape how OBK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.73 places OBK roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. OBK 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 OBK?
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 OBK snapshot
As of May 15, 2026, spot at $45.27, ATM IV 34.60%, IV rank 12.93%, expected move 9.92%. The bear put spread on OBK 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 OBK specifically: OBK IV at 34.60% is on the cheap side of its 1-year range, which favors premium-buying structures like a OBK bear put spread, with a market-implied 1-standard-deviation move of approximately 9.92% (roughly $4.49 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 OBK expiries trade a higher absolute premium for lower per-day decay. Position sizing on OBK should anchor to the underlying notional of $45.27 per share and to the trader's directional view on OBK stock.
OBK bear put spread setup
The OBK 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 OBK near $45.27, the first option leg uses a $45.27 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed OBK 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 OBK shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Put | $45.27 | N/A |
| Sell 1 | Put | $43.01 | N/A |
OBK 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.
OBK bear put spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bear put spread on OBK. 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 OBK
Bear put spreads on OBK reduce the cost of a bearish OBK stock position by selling a lower-strike put; suited to moderate-decline theses where price reaches but does not vastly exceed the short strike.
OBK thesis for this bear put spread
The market-implied 1-standard-deviation range for OBK extends from approximately $40.78 on the downside to $49.76 on the upside. A OBK bear put spread caps both the risk and the reward of a bearish position; relative to an outright long put on OBK, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current OBK IV rank near 12.93% 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 OBK at 34.60%. As a Financial Services name, OBK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to OBK-specific events.
OBK 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. OBK positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move OBK alongside the broader basket even when OBK-specific fundamentals are unchanged. Long-premium structures like a bear put spread on OBK 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 OBK chain quotes before placing a trade.
Frequently asked questions
- What is a bear put spread on OBK?
- A bear put spread on OBK is the bear put spread strategy applied to OBK (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 OBK stock trading near $45.27, the strikes shown on this page are snapped to the nearest listed OBK chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are OBK 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 OBK bear put spread priced from the end-of-day chain at a 30-day expiry (ATM IV 34.60%), 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 OBK bear put spread?
- The breakeven for the OBK 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 OBK market-implied 1-standard-deviation expected move is approximately 9.92%; 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 OBK?
- Bear put spreads on OBK reduce the cost of a bearish OBK 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 OBK implied volatility affect this bear put spread?
- OBK ATM IV is at 34.60% with IV rank near 12.93%, 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.