What is the max profit of a bull call spread?

Limited: there is a ceiling on what it can make. The calculator gives the figure for your strikes and expiration.

What is the max loss of a bull call spread?

Limited: there is a floor under what it can lose. The calculator gives the figure for your strikes and expiration.

How do I calculate a bull call spread's profit and loss?

Open the bull call spread in the strategy calculator. It places the legs on a real expiration, and you can drag the strikes, change the date, and read profit and loss by price and date, with max profit, max loss, and the breakevens.

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Bull call spread calculator

Bullish debit. Buy a call and sell a higher call to cheapen the long.

Open in the calculator All strategies

OutlookBullish

Max profitLimited

Max lossLimited

LevelIntermediate

What is a bull call spread?

A bull call spread participates in a rally up to the short strike. Max loss is the debit. Max profit is the width minus that debit if the stock finishes above the short call.

Legs

Buy a call at strike A
Sell a call at strike B

Payoff at expiration, sketched. The live example below has the real prices.

Live example on SPY

Net debit$127.00

Max loss$127.00

Max profit$73.00

Chance of profitLocked: ProUpgrade

BreakevenAbove $757.27 (+0.2%)At expiration

756C+112/18 · $19.20
758C−112/18 · $17.93

SPY · Oct 30, 2026, 3:59 PM ET

With SPY at 755.53, on the Dec 18 expiration (49 days out): buy 1 756 call and sell 1 758 call. Net debit $127. Max profit $73; max loss $127. Breakeven at expiration: Above $757.27 (+0.2%).

Open this bull call spread in the calculator to move the strikes, change the date and implied volatility, and read profit and loss by price and date.

Questions

What is a bull call spread?: A bull call spread participates in a rally up to the short strike. Max loss is the debit. Max profit is the width minus that debit if the stock finishes above the short call.
When does a bull call spread make money?: Bullish debit. Buy a call and sell a higher call to cheapen the long.
What is the max profit of a bull call spread?: Limited: there is a ceiling on what it can make. The calculator gives the figure for your strikes and expiration.
What is the max loss of a bull call spread?: Limited: there is a floor under what it can lose. The calculator gives the figure for your strikes and expiration.
How do I calculate a bull call spread's profit and loss?: Open the bull call spread in the strategy calculator. It places the legs on a real expiration, and you can drag the strikes, change the date, and read profit and loss by price and date, with max profit, max loss, and the breakevens.