How are MDYV 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 MDYV bull call spread priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 17.70%), the computed maximum profit is $336.00 per contract and the computed maximum loss is -$164.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a MDYV bull call spread?

The breakeven for the MDYV bull call spread priced on this page is roughly $96.64 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 MDYV market-implied 1-standard-deviation expected move in the same options snapshot is approximately 5.07%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

How does current MDYV implied volatility affect this bull call spread?

MDYV ATM IV is at 17.70% with IV rank near 0.66%, 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.

MDYV Bull Call Spread Strategy

MDYV (State Street SPDR S&P 400 Mid Cap Value ETF), in the Financial Services sector, (Asset Management - Global industry), listed on AMEX.

The State Street SPDR S&P 400 Mid Cap Value ETF aims to replicate the overall financial performance of the S&P MidCap 400 Value Index, prior to the deduction of any charges or operating costs. This benchmark index is composed of stocks that display the most robust "value" characteristics, which are identified through an assessment of their book value relative to their market price, their earnings in comparison to their market price, and their sales figures against their market price.

MDYV (State Street SPDR S&P 400 Mid Cap Value ETF) trades in the Financial Services sector, specifically Asset Management - Global, with a market capitalization of approximately $2.73B, a beta of 0.94 versus the broader market, a 52-week range of 79.64-97.58, average daily share volume of 81K, a public-listing history dating back to 2005. These structural characteristics shape how MDYV etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.94 places MDYV roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. MDYV 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 MDYV?

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.

MDYV snapshot

As of August 14, 2026, spot at $97.36, ATM IV 17.70%, IV rank 0.66%, expected move 5.07%. The bull call spread on MDYV 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 7-day expiry.

Why this bull call spread structure on MDYV specifically: MDYV IV at 17.70% is on the cheap side of its 1-year range, which favors premium-buying structures like a MDYV bull call spread, with a market-implied 1-standard-deviation move of approximately 5.07% (roughly $4.94 on the underlying). The 7-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated MDYV expiries trade a higher absolute premium for lower per-day decay. Position sizing on MDYV should anchor to the underlying notional of $97.36 per share and to the trader's directional view on MDYV etf.

MDYV bull call spread setup

The MDYV 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 MDYV at $97.36 on that close, the first option leg uses a $95.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed MDYV chain at a 7-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 MDYV shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$95.00	$2.45
Sell 1	Call	$100.00	$0.81

MDYV bull call spread risk and reward

Net Premium / Debit: -$164.00
Max Profit (per contract): $336.00
Max Loss (per contract): -$164.00
Breakeven(s): $96.64
Risk / Reward Ratio: 2.049

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.

MDYV bull call spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bull call spread on MDYV. 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.

P&L at expiration across the modeled underlying-price range. Green shading marks profitable regions, red shading marks loss regions. Dotted purple verticals mark breakevens; the solid dark vertical marks current spot.

Underlying Price	% From Spot	P&L at Expiration
$0.01	-100.0%	-$164.00
$21.54	-77.9%	-$164.00
$43.06	-55.8%	-$164.00
$64.59	-33.7%	-$164.00
$86.11	-11.6%	-$164.00
$107.64	+10.6%	+$336.00
$129.16	+32.7%	+$336.00
$150.69	+54.8%	+$336.00
$172.22	+76.9%	+$336.00
$193.74	+99.0%	+$336.00

When traders use bull call spread on MDYV

Bull call spreads on MDYV reduce the cost of a bullish MDYV etf position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.

MDYV thesis for this bull call spread

The market-implied 1-standard-deviation range for MDYV extends from approximately $92.42 on the downside to $102.30 on the upside. A MDYV bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on MDYV, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current MDYV IV rank near 0.66% 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 MDYV at 17.70%. As a Financial Services name, MDYV options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to MDYV-specific events.

MDYV 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. MDYV positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move MDYV alongside the broader basket even when MDYV-specific fundamentals are unchanged. Long-premium structures like a bull call spread on MDYV 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 MDYV chain quotes before placing a trade.

Frequently asked questions

What is a bull call spread on MDYV?: A bull call spread on MDYV is the bull call spread strategy applied to MDYV (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 MDYV etf at $97.36 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed MDYV chain strike and the premiums come straight from that session's bid/ask midpoint.
How are MDYV 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 MDYV bull call spread priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 17.70%), the computed maximum profit is $336.00 per contract and the computed maximum loss is -$164.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a MDYV bull call spread?: The breakeven for the MDYV bull call spread priced on this page is roughly $96.64 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 MDYV market-implied 1-standard-deviation expected move in the same options snapshot is approximately 5.07%; 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 MDYV?: Bull call spreads on MDYV reduce the cost of a bullish MDYV 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 MDYV implied volatility affect this bull call spread?: MDYV ATM IV is at 17.70% with IV rank near 0.66%, 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.