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MULTI-LEG OPTIONS STRATEGY

Bull Call Spread Calculator

Choose live Schwab-backed contracts or enter values manually.

Option legs

Shared live selection with manual fallback.

Long leg · long 1×
Short leg · short 1×

Payoff summary

Defined-risk expiration values.

Net debit
$400.00
Maximum profit
$600.00
Maximum loss
$400.00
Break-even
$104.00
Risk / reward
$1.50

OPTIONS TRADE

MANUAL long call 100 6 / short call 110 2
Expiration
StrategyBULL CALL SPREAD
Contracts1 CONTRACT
Net debit400
MAX PROFIT600
MAX LOSS400

Methodology and risk

Debit spreads pay a net debit; credit spreads receive a net credit. Strike order must form a defined-risk vertical spread. Values exclude commissions, assignment, and early-exercise risk.

How this calculator works

A bull call spread buys a lower-strike call and sells a higher-strike call with the same expiration for a defined debit.

Formula or payoff

Maximum profit is strike width minus net debit; maximum loss is the net debit; break-even is long strike plus debit.

Practical example

Buying the 100 call for $6 and selling the 110 call for $2 creates a $4 debit and $6 maximum value per share.

Risk and limitations

Profit is capped above the short strike and the full debit is at risk. Results exclude fees and assignment effects.