Put Options on CADE on 5/8/2023

Cadence Bank (CADE) provides commercial banking and financial services. 

Its products and services include consumer banking, consumer loans, mortgages, home equity lines and loans, credit cards, commercial and business banking, treasury management, specialized and asset-based lending, commercial real estate, equipment financing, and correspondent banking services.

The company's products and services also comprise small business administration lending, foreign exchange, wealth management, investment and trust, financial planning, retirement plan management, and personal and business insurance services.

It operates in Alabama, Arkansas, Florida, Georgia, Louisiana, Mississippi, Missouri, Tennessee, Texas, Illinois, and Oklahoma, the United States. Shares have fallen through the $18 support level as Regional Banks continue to sell off follwoing the collapse of Silicon Valley Bank. 

Risk/reward ratio of this put option makes it attractive.

Last Trade: $19.11

Trading Range: $16.95 to $29.41

Trade Buy 1 May $20.00 Put at $1.50 For a net debit of $1.50 Profit/Loss Analysis Breakeven at $18.50 Maximum profit is unbounded Maximum loss is ($150.00) at strike of $20.00 Closing Summary Sold 1 May $20.00 Put at $1.80

Position closed on 5/19/2023 at price of $1.80 with a 20.00% gain in 11 days.

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