OMEX Bull Call Spread Strategy
OMEX (Odyssey Marine Exploration, Inc.), in the Industrials sector, (Specialty Business Services industry), listed on NASDAQ.
Odyssey Marine Exploration, Inc., operating through its various subsidiaries, specializes in the worldwide identification, validation, and development of subsea resources. The company offers expert services to its clients, including specialized oceanic mineral prospecting, comprehensive project execution, and general marine support. Furthermore, they provide a range of consulting services such as resource evaluation, meticulous project planning, scientific research, and overall project management. The firm was established in 1986 and its principal corporate offices are situated in Tampa, Florida.
OMEX (Odyssey Marine Exploration, Inc.) trades in the Industrials sector, specifically Specialty Business Services, with a market capitalization of approximately $28.7M, a beta of -0.23 versus the broader market, a 52-week range of 0.737-4.43, average daily share volume of 5.7M, a public-listing history dating back to 1999, approximately 11 full-time employees. These structural characteristics shape how OMEX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.23 indicates OMEX has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a bull call spread on OMEX?
A bull call spread buys an at-the-money call and sells an out-of-the-money call at a higher strike for defined risk and defined reward bounded by the strike width.
Current OMEX snapshot
As of June 30, 2026, spot at $0.86, ATM IV 156.70%, IV rank 30.63%, expected move 44.92%. The bull call spread on OMEX 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 17-day expiry.
Why this bull call spread structure on OMEX specifically: OMEX IV at 156.70% 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 44.92% (roughly $0.39 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated OMEX expiries trade a higher absolute premium for lower per-day decay. Position sizing on OMEX should anchor to the underlying notional of $0.86 per share and to the trader's directional view on OMEX stock.
OMEX bull call spread setup
The OMEX bull call 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 OMEX near $0.86, the first option leg uses a $0.86 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed OMEX chain at a 17-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 OMEX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $0.86 | N/A |
| Sell 1 | Call | $0.90 | N/A |
OMEX bull call 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-call strike plus net debit.
OMEX bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on OMEX. 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 bull call spread on OMEX
Bull call spreads on OMEX reduce the cost of a bullish OMEX stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
OMEX thesis for this bull call spread
The market-implied 1-standard-deviation range for OMEX extends from approximately $0.47 on the downside to $1.25 on the upside. A OMEX bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on OMEX, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current OMEX IV rank near 30.63% is mid-range against its 1-year distribution, so the IV signal is neutral; the bull call spread thesis on OMEX should anchor more to the directional view and the expected-move geometry. As a Industrials name, OMEX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to OMEX-specific events.
OMEX bull call spread positions are structurally moderately bullish; 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. OMEX positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move OMEX alongside the broader basket even when OMEX-specific fundamentals are unchanged. Long-premium structures like a bull call spread on OMEX 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 OMEX chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on OMEX?
- A bull call spread on OMEX is the bull call spread strategy applied to OMEX (stock). The strategy is structurally moderately bullish: A bull call spread buys an at-the-money call and sells an out-of-the-money call at a higher strike for defined risk and defined reward bounded by the strike width. With OMEX stock trading near $0.86, the strikes shown on this page are snapped to the nearest listed OMEX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are OMEX bull call 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-call strike plus net debit. For the OMEX bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 156.70%), 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 OMEX bull call spread?
- The breakeven for the OMEX bull call 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 OMEX market-implied 1-standard-deviation expected move is approximately 44.92%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a bull call spread on OMEX?
- Bull call spreads on OMEX reduce the cost of a bullish OMEX stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
- How does current OMEX implied volatility affect this bull call spread?
- OMEX ATM IV is at 156.70% with IV rank near 30.63%, 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.