AIS Bull Call Spread Strategy
AIS (VistaShares Artificial Intelligence Supercycle ETF), in the Financial Services sector, (Asset Management industry), listed on AMEX.
The fund is an actively managed exchange-traded fund (“ETF”) that seeks to achieve its investment objective by investing in a portfolio of global AI companies. The Sub-Adviser seeks to invest the fund’s assets to achieve returns similar to those of the BITA VistaShares Artificial Intelligence Supercycle Index. Under normal circumstances, the fund will invest at least 80% of the fund’s net assets (plus borrowings for investment purposes) in AI companies.
AIS (VistaShares Artificial Intelligence Supercycle ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $221.3M, a beta of 2.87 versus the broader market, a 52-week range of 23.83-71.595, average daily share volume of 255K, a public-listing history dating back to 2024. These structural characteristics shape how AIS etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.87 indicates AIS has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a bull call spread on AIS?
A bull call spread buys an at-the-money call and sells an out-of-the-money call at a higher strike for defined risk and defined reward bounded by the strike width.
Current AIS snapshot
As of May 15, 2026, spot at $68.42, ATM IV 55.50%, IV rank 12.43%, expected move 15.91%. The bull call spread on AIS below is built from the same end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 34-day expiry.
Why this bull call spread structure on AIS specifically: AIS IV at 55.50% is on the cheap side of its 1-year range, which favors premium-buying structures like a AIS bull call spread, with a market-implied 1-standard-deviation move of approximately 15.91% (roughly $10.89 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AIS expiries trade a higher absolute premium for lower per-day decay. Position sizing on AIS should anchor to the underlying notional of $68.42 per share and to the trader's directional view on AIS etf.
AIS bull call spread setup
The AIS bull call spread below is built from the end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With AIS near $68.42, the first option leg uses a $70.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AIS chain at a 34-day expiry; the cross-strike IV skew is reflected directly in the per-leg values rather than approximated. Quantity sizing assumes one contract per option leg (or 100 AIS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $70.00 | $4.35 |
| Sell 1 | Call | $70.00 | $4.35 |
AIS bull call spread risk and reward
- Net Premium / Debit
- $0.00
- Max Profit (per contract)
- $0.00
- Max Loss (per contract)
- $0.00
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
Max profit equals strike width minus net debit times 100; max loss equals net debit times 100. Breakeven is long-call strike plus net debit.
AIS bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on AIS. Each row is one sampled price point from the computed payoff curve; the full curve uses 200 price points internally before being summarized into 10 rows here.
| Underlying Price | % From Spot | P&L at Expiration |
|---|---|---|
| $0.01 | -100.0% | $0.00 |
| $15.14 | -77.9% | $0.00 |
| $30.26 | -55.8% | $0.00 |
| $45.39 | -33.7% | $0.00 |
| $60.52 | -11.5% | $0.00 |
| $75.64 | +10.6% | $0.00 |
| $90.77 | +32.7% | $0.00 |
| $105.90 | +54.8% | $0.00 |
| $121.03 | +76.9% | $0.00 |
| $136.15 | +99.0% | $0.00 |
When traders use bull call spread on AIS
Bull call spreads on AIS reduce the cost of a bullish AIS etf position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
AIS thesis for this bull call spread
The market-implied 1-standard-deviation range for AIS extends from approximately $57.53 on the downside to $79.31 on the upside. A AIS bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on AIS, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current AIS IV rank near 12.43% sits in the lower third of its 1-year distribution, where IV often re-expands toward the mean; this favors premium-buying structures and disadvantages premium-selling structures on AIS at 55.50%. As a Financial Services name, AIS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AIS-specific events.
AIS bull call spread positions are structurally moderately bullish; the modeled P&L assumes European-style exercise at expiration and ignores early assignment, transaction costs, dividends paid before expiry on the stock leg (when present), and the bid-ask spread on the listed chain. AIS positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AIS alongside the broader basket even when AIS-specific fundamentals are unchanged. Long-premium structures like a bull call spread on AIS are particularly exposed to IV-crush risk through scheduled events (earnings, FDA decisions, central-bank meetings) where IV typically contracts post-event regardless of the directional outcome. Always rebuild the position from current AIS chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on AIS?
- A bull call spread on AIS is the bull call spread strategy applied to AIS (etf). The strategy is structurally moderately bullish: A bull call spread buys an at-the-money call and sells an out-of-the-money call at a higher strike for defined risk and defined reward bounded by the strike width. With AIS etf trading near $68.42, the strikes shown on this page are snapped to the nearest listed AIS chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AIS bull call spread max profit and max loss calculated?
- Max profit equals strike width minus net debit times 100; max loss equals net debit times 100. Breakeven is long-call strike plus net debit. For the AIS bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 55.50%), the computed maximum profit is $0.00 per contract and the computed maximum loss is $0.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a AIS bull call spread?
- The breakeven for the AIS bull call spread priced on this page is no defined breakeven on the modeled curve at expiration, derived from end-of-day chain premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The current AIS market-implied 1-standard-deviation expected move is approximately 15.91%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a bull call spread on AIS?
- Bull call spreads on AIS reduce the cost of a bullish AIS etf position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
- How does current AIS implied volatility affect this bull call spread?
- AIS ATM IV is at 55.50% with IV rank near 12.43%, which is on the low end of its 1-year range. Premium-buying structures (long call, long put, debit spreads) are relatively cheap in this regime; premium-selling structures collect less credit per unit risk.