LRNZ Long Call Strategy
LRNZ (TrueShares Technology, AI and Deep Learning ETF), in the Financial Services sector, (Asset Management industry), listed on CBOE.
This ETF typically dedicates at least 80% of its net assets—including any funds borrowed for investment purposes—to the common stock of companies operating in the technology, artificial intelligence, and deep learning sectors. The fund also retains the flexibility to invest in small and mid-capitalization companies, a strategy the Adviser believes may lead to enhanced capital appreciation and dividend yield from these comparatively smaller firms. It is important to note that this fund is structured as non-diversified.
LRNZ (TrueShares Technology, AI and Deep Learning ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $31.5M, a beta of 1.79 versus the broader market, a 52-week range of 37.89-65, average daily share volume of 4K, a public-listing history dating back to 2020. These structural characteristics shape how LRNZ etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.79 indicates LRNZ has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. LRNZ pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a long call on LRNZ?
A long call buys upside exposure with a fixed maximum loss equal to the premium paid; profit accrues if the underlying closes above the strike plus premium at expiration.
LRNZ snapshot
As of August 14, 2026, spot at $64.92, ATM IV 34.00%, IV rank 4.45%, expected move 9.75%. The long call on LRNZ 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 long call structure on LRNZ specifically: LRNZ IV at 34.00% is on the cheap side of its 1-year range, which favors premium-buying structures like a LRNZ long call, with a market-implied 1-standard-deviation move of approximately 9.75% (roughly $6.33 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 LRNZ expiries trade a higher absolute premium for lower per-day decay. Position sizing on LRNZ should anchor to the underlying notional of $64.92 per share and to the trader's directional view on LRNZ etf.
LRNZ long call setup
The LRNZ long call 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 LRNZ at $64.92 on that close, the first option leg uses a $65.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed LRNZ 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 LRNZ shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $65.00 | $2.55 |
LRNZ long call risk and reward
- Net Premium / Debit
- -$255.00
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- -$255.00
- Breakeven(s)
- $67.55
- Risk / Reward Ratio
- Unbounded
Max profit is unbounded; max loss equals the premium paid times 100. Breakeven is strike plus premium.
LRNZ long call payoff curve
Modeled P&L at expiration across a range of underlying prices for the long call on LRNZ. 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% | -$255.00 |
| $14.36 | -77.9% | -$255.00 |
| $28.72 | -55.8% | -$255.00 |
| $43.07 | -33.7% | -$255.00 |
| $57.42 | -11.5% | -$255.00 |
| $71.78 | +10.6% | +$422.53 |
| $86.13 | +32.7% | +$1,857.84 |
| $100.48 | +54.8% | +$3,293.15 |
| $114.83 | +76.9% | +$4,728.45 |
| $129.19 | +99.0% | +$6,163.76 |
When traders use long call on LRNZ
Long calls on LRNZ express a bullish thesis with defined risk; traders use them ahead of LRNZ catalysts (earnings, product launches, macro events) when the expected upside justifies the premium and theta decay.
LRNZ thesis for this long call
The market-implied 1-standard-deviation range for LRNZ extends from approximately $58.59 on the downside to $71.25 on the upside. A LRNZ long call expresses a directional view that the underlying closes above the strike plus premium at expiration, ideally with implied volatility holding or expanding to preserve extrinsic value through the hold period. Current LRNZ IV rank near 4.45% 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 LRNZ at 34.00%. As a Financial Services name, LRNZ options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to LRNZ-specific events.
LRNZ long call positions are structurally 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. LRNZ positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move LRNZ alongside the broader basket even when LRNZ-specific fundamentals are unchanged. Long-premium structures like a long call on LRNZ 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 LRNZ chain quotes before placing a trade.
Frequently asked questions
- What is a long call on LRNZ?
- A long call on LRNZ is the long call strategy applied to LRNZ (etf). The strategy is structurally bullish: A long call buys upside exposure with a fixed maximum loss equal to the premium paid; profit accrues if the underlying closes above the strike plus premium at expiration. With LRNZ etf at $64.92 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed LRNZ chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are LRNZ long call max profit and max loss calculated?
- Max profit is unbounded; max loss equals the premium paid times 100. Breakeven is strike plus premium. For the LRNZ long call priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 34.00%), the computed maximum profit is unbounded per contract and the computed maximum loss is -$255.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a LRNZ long call?
- The breakeven for the LRNZ long call priced on this page is roughly $67.55 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 LRNZ market-implied 1-standard-deviation expected move in the same options snapshot is approximately 9.75%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.
- When should you consider a long call on LRNZ?
- Long calls on LRNZ express a bullish thesis with defined risk; traders use them ahead of LRNZ catalysts (earnings, product launches, macro events) when the expected upside justifies the premium and theta decay.
- How does current LRNZ implied volatility affect this long call?
- LRNZ ATM IV is at 34.00% with IV rank near 4.45%, 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.