OMEX Cash-Secured Put Strategy

OMEX (Odyssey Marine Exploration, Inc.), in the Industrials sector, (Specialty Business Services industry), listed on NASDAQ.

Odyssey Marine Exploration, Inc., together with its subsidiaries, discovers, validates, and develops seafloor resources worldwide. The company provides specialized mineral exploration, project development, and marine services to clients. It also offers resource assessment, project planning, research, and project management services. The company was founded in 1986 and is headquartered in Tampa, Florida.

OMEX (Odyssey Marine Exploration, Inc.) trades in the Industrials sector, specifically Specialty Business Services, with a market capitalization of approximately $35.5M, a trailing P/E of 0.21, a beta of -0.24 versus the broader market, a 52-week range of 0.72-4.43, average daily share volume of 5.9M, 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 -0.24 indicates OMEX has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. The trailing P/E of 0.21 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price.

What is a cash-secured put on OMEX?

A cash-secured put sells an out-of-the-money put while holding cash equal to the strike-times-100 obligation, keeping the premium when the underlying stays above the strike.

Current OMEX snapshot

As of May 15, 2026, spot at $1.08, ATM IV 392.60%, IV rank 95.69%, expected move 112.56%. The cash-secured put 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 34-day expiry.

Why this cash-secured put structure on OMEX specifically: OMEX IV at 392.60% is rich versus its 1-year range, which favors premium-selling structures like a OMEX cash-secured put, with a market-implied 1-standard-deviation move of approximately 112.56% (roughly $1.22 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 OMEX expiries trade a higher absolute premium for lower per-day decay. Position sizing on OMEX should anchor to the underlying notional of $1.08 per share and to the trader's directional view on OMEX stock.

OMEX cash-secured put setup

The OMEX cash-secured put 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 $1.08, the first option leg uses a $1.03 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 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 OMEX shares for the stock leg in covered calls and collars).

ActionTypeStrike / BasisPremium (est)
Sell 1Put$1.03N/A

OMEX cash-secured put 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 premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium.

OMEX cash-secured put payoff curve

Modeled P&L at expiration across a range of underlying prices for the cash-secured put 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 cash-secured put on OMEX

Cash-secured puts on OMEX earn premium while a trader waits to acquire OMEX stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning OMEX.

OMEX thesis for this cash-secured put

The market-implied 1-standard-deviation range for OMEX extends from approximately $-0.14 on the downside to $2.30 on the upside. A OMEX cash-secured put lets a trader earn premium while waiting to acquire OMEX at the strike price; the strategy is most attractive when the trader is comfortable holding the underlying at that level and IV is rich enough to compensate for the assignment risk. Current OMEX IV rank near 95.69% sits in the upper third of its 1-year distribution, which historically reverts; this raises the bar for premium-buying structures and lowers it for premium-selling structures on OMEX at 392.60%. 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 cash-secured put positions are structurally neutral to slightly 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. Short-premium structures like a cash-secured put on OMEX carry tail risk when realized volatility exceeds the implied move; review historical OMEX earnings reactions and macro stress periods before sizing. Always rebuild the position from current OMEX chain quotes before placing a trade.

Frequently asked questions

What is a cash-secured put on OMEX?
A cash-secured put on OMEX is the cash-secured put strategy applied to OMEX (stock). The strategy is structurally neutral to slightly bullish: A cash-secured put sells an out-of-the-money put while holding cash equal to the strike-times-100 obligation, keeping the premium when the underlying stays above the strike. With OMEX stock trading near $1.08, 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 cash-secured put max profit and max loss calculated?
Max profit equals premium times 100; max loss equals strike minus premium times 100 (at zero, assuming assignment). Breakeven is strike minus premium. For the OMEX cash-secured put priced from the end-of-day chain at a 30-day expiry (ATM IV 392.60%), 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 OMEX cash-secured put?
The breakeven for the OMEX cash-secured put 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 112.56%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
When should you consider a cash-secured put on OMEX?
Cash-secured puts on OMEX earn premium while a trader waits to acquire OMEX stock at a target strike below the current quote; most attractive when IV is rich and the trader is comfortable owning OMEX.
How does current OMEX implied volatility affect this cash-secured put?
OMEX ATM IV is at 392.60% with IV rank near 95.69%, which is elevated relative to its 1-year range. Premium-selling structures (covered call, cash-secured put, iron condor) generally look more attractive when IV rank is high; premium-buying structures (long call, long put, debit spreads) are more expensive in that regime.

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