Bull Call Spread (1 Aug 11)

Bull Call Spread (ETFs)

A Bull Call spread is a debit spread created by purchasing a Call with a lower strike price and selling a Call with a higher strike price.  Both options expire in the same month.  This is a bullish strategy and should be implemented when you expect the market to close above the strike price of the short Call option—the point of maximum reward (at expiration).   

GLD  $158.28

Buy to Open (1) Aug 11 155 C @ $4.80

Sell to Open (1) Aug 11 160 C @ $2.00 

Net Debit: $2.80 ($280.00)

Breakeven: $157.80

Max. Profit: $220.00

Pct Return: 78.6% (20 days)

OIH  $157.96

Buy to Open (1) Aug 11 153 C @ $7.85

Sell to Open (1) Aug 11 158 C @ $4.70 

Net Debit: $3.15 ($315.00)

Breakeven: $156.15

Max. Profit: $185.00

Pct Return: 58.7% (20 days)

XOP  $62.20

Buy to Open (1) Aug 11 59 C @ $4.45

Sell to Open (1) Aug 11 64 C @ $1.45 

Net Debit: $3.00 ($300.00)

Breakeven: $62.00

Max. Profit: $200.00

Pct Return: 66.7% (20 days)

SLV  $38.85

Buy to Open (1) Aug 11 35 C @ $4.25

Sell to Open (1) Aug 11 40 C @ $1.05 

Net Debit: $3.20 ($320.00)

Breakeven: $38.20

Max. Profit: $180.00

Pct Return: 56.3% (20 days)

All positions displayed are for educational purposes only and are not intended to be recommendations.