Call Spread Calculator

Vertical call spreads pair long and short calls at different strikes: bull call (debit, bullish) or bear call (credit, bearish/neutral) with defined risk.

Spread Type

Direction

Stock Symbol

Current Stock Price ($)

Number of Contracts

Long Call (Buy)

Strike Price ($)

Premium per Share ($)

Short Call (Sell)

Strike Price ($)

Premium per Share ($)

Enter option details to see payoff diagram

Trade Summary

Spread Width

—

Breakeven

—

Commonly asked Call Spread questions

What is a bull call spread?

Buy a lower-strike call and sell a higher-strike call with the same expiration. You pay a net debit; profit is capped if the stock rises above the short strike by enough.

What is a bear call spread?

Sell a lower-strike call and buy a higher-strike call. You collect a net credit; max profit is often the credit if the stock stays below the short strike at expiry.

Is risk defined?

Yes for both verticals: max loss is typically limited to the net debit (bull) or strike width minus credit (bear), times contracts × 100, before fees.

How do I find breakeven?

For a bull call, often long strike plus net debit per share. For a bear call, often short strike plus net credit per share—use the calculator for your numbers.

When use bull vs bear call spread?

Bull call for moderate upside with less premium than a long call alone; bear call for premium when you expect the stock not to rally through the short strike.