ITEQ Bull Call Spread Strategy
ITEQ (Amplify BlueStar Israel Technology ETF), in the Financial Services sector, (Asset Management - Global industry), listed on AMEX.
The Amplify BlueStar Israel Technology ETF (ITEQ) endeavors to mirror the overall returns of the BlueStar Israel Global Technology Index, prior to accounting for fees and expenses. This fund is comprised of a curated selection of innovative Israeli technology companies. These firms are at the forefront of developing groundbreaking solutions in some of the most revolutionary technological sectors, such as cybersecurity, advanced data processing and analytics, autonomous vehicle safety and assistance, renewable energy, and crucial areas like biotechnology and medical devices.
ITEQ (Amplify BlueStar Israel Technology ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $125.9M, a beta of 1.28 versus the broader market, a 52-week range of 52.16-71, average daily share volume of 5K, a public-listing history dating back to 2015. These structural characteristics shape how ITEQ etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.28 places ITEQ roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. ITEQ pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a bull call spread on ITEQ?
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.
ITEQ snapshot
As of August 14, 2026, spot at $66.03, ATM IV 24.30%, IV rank 12.04%, expected move 6.97%. The bull call spread on ITEQ below is built from the August 14, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this bull call spread structure on ITEQ specifically: ITEQ IV at 24.30% is on the cheap side of its 1-year range, which favors premium-buying structures like a ITEQ bull call spread, with a market-implied 1-standard-deviation move of approximately 6.97% (roughly $4.60 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ITEQ expiries trade a higher absolute premium for lower per-day decay. Position sizing on ITEQ should anchor to the underlying notional of $66.03 per share and to the trader's directional view on ITEQ etf.
ITEQ bull call spread setup
The ITEQ bull call spread below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ITEQ at $66.03 on that close, the first option leg uses a $66.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ITEQ chain at a 35-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 ITEQ shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $66.00 | $2.13 |
| Sell 1 | Call | $69.00 | $0.95 |
ITEQ bull call spread risk and reward
- Net Premium / Debit
- -$118.00
- Max Profit (per contract)
- $182.00
- Max Loss (per contract)
- -$118.00
- Breakeven(s)
- $67.18
- Risk / Reward Ratio
- 1.542
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.
ITEQ bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on ITEQ. 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% | -$118.00 |
| $14.61 | -77.9% | -$118.00 |
| $29.21 | -55.8% | -$118.00 |
| $43.81 | -33.7% | -$118.00 |
| $58.40 | -11.5% | -$118.00 |
| $73.00 | +10.6% | +$182.00 |
| $87.60 | +32.7% | +$182.00 |
| $102.20 | +54.8% | +$182.00 |
| $116.80 | +76.9% | +$182.00 |
| $131.40 | +99.0% | +$182.00 |
When traders use bull call spread on ITEQ
Bull call spreads on ITEQ reduce the cost of a bullish ITEQ etf position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
ITEQ thesis for this bull call spread
The market-implied 1-standard-deviation range for ITEQ extends from approximately $61.43 on the downside to $70.63 on the upside. A ITEQ bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on ITEQ, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current ITEQ IV rank near 12.04% 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 ITEQ at 24.30%. As a Financial Services name, ITEQ options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ITEQ-specific events.
ITEQ 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. ITEQ positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ITEQ alongside the broader basket even when ITEQ-specific fundamentals are unchanged. Long-premium structures like a bull call spread on ITEQ 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 ITEQ chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on ITEQ?
- A bull call spread on ITEQ is the bull call spread strategy applied to ITEQ (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 ITEQ etf at $66.03 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed ITEQ chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ITEQ 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 ITEQ bull call spread priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 24.30%), the computed maximum profit is $182.00 per contract and the computed maximum loss is -$118.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ITEQ bull call spread?
- The breakeven for the ITEQ bull call spread priced on this page is roughly $67.18 at expiration, derived from the August 14, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The ITEQ market-implied 1-standard-deviation expected move in the same options snapshot is approximately 6.97%; 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 ITEQ?
- Bull call spreads on ITEQ reduce the cost of a bullish ITEQ 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 ITEQ implied volatility affect this bull call spread?
- ITEQ ATM IV is at 24.30% with IV rank near 12.04%, 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.