How are NXTG 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 NXTG bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 19.30%), the computed maximum profit is $487.50 per contract and the computed maximum loss is -$212.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a NXTG bull call spread?

The breakeven for the NXTG bull call spread priced on this page is roughly $154.13 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 NXTG market-implied 1-standard-deviation expected move is approximately 5.53%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

NXTG ATM IV is at 19.30% with IV rank near 1.91%, 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.

NXTG Bull Call Spread Strategy

NXTG (First Trust Indxx NextG ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.

The First Trust Indxx NextG ETF, which was previously known as the First Trust Nasdaq Smartphone Index Fund, is designed to closely replicate the investment outcomes—specifically the price appreciation and income generation (before any fund-specific fees and operational costs are applied)—of an equity benchmark called the Indxx 5G & NextG Thematic Index SM. To accomplish this objective, the fund typically allocates at least 90% of its net assets (including any capital obtained through borrowing) to invest in the common equities and depositary receipts that constitute the underlying index.

NXTG (First Trust Indxx NextG ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $452.1M, a beta of 1.28 versus the broader market, a 52-week range of 95.47-167.58, average daily share volume of 12K, a public-listing history dating back to 2011. These structural characteristics shape how NXTG etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.28 places NXTG roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. NXTG 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 NXTG?

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 NXTG snapshot

As of June 29, 2026, spot at $151.75, ATM IV 19.30%, IV rank 1.91%, expected move 5.53%. The bull call spread on NXTG 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 18-day expiry.

Why this bull call spread structure on NXTG specifically: NXTG IV at 19.30% is on the cheap side of its 1-year range, which favors premium-buying structures like a NXTG bull call spread, with a market-implied 1-standard-deviation move of approximately 5.53% (roughly $8.40 on the underlying). The 18-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated NXTG expiries trade a higher absolute premium for lower per-day decay. Position sizing on NXTG should anchor to the underlying notional of $151.75 per share and to the trader's directional view on NXTG etf.

NXTG bull call spread setup

The NXTG 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 NXTG near $151.75, the first option leg uses a $152.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed NXTG chain at a 18-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 NXTG shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$152.00	$2.48
Sell 1	Call	$159.00	$0.35

NXTG bull call spread risk and reward

Net Premium / Debit: -$212.50
Max Profit (per contract): $487.50
Max Loss (per contract): -$212.50
Breakeven(s): $154.13
Risk / Reward Ratio: 2.294

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.

NXTG bull call spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bull call spread on NXTG. 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%	-$212.50
$33.56	-77.9%	-$212.50
$67.11	-55.8%	-$212.50
$100.66	-33.7%	-$212.50
$134.22	-11.6%	-$212.50
$167.77	+10.6%	+$487.50
$201.32	+32.7%	+$487.50
$234.87	+54.8%	+$487.50
$268.42	+76.9%	+$487.50
$301.97	+99.0%	+$487.50

When traders use bull call spread on NXTG

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

NXTG thesis for this bull call spread

The market-implied 1-standard-deviation range for NXTG extends from approximately $143.35 on the downside to $160.15 on the upside. A NXTG bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on NXTG, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current NXTG IV rank near 1.91% 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 NXTG at 19.30%. As a Financial Services name, NXTG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to NXTG-specific events.

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

Frequently asked questions

What is a bull call spread on NXTG?: A bull call spread on NXTG is the bull call spread strategy applied to NXTG (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 NXTG etf trading near $151.75, the strikes shown on this page are snapped to the nearest listed NXTG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are NXTG 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 NXTG bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 19.30%), the computed maximum profit is $487.50 per contract and the computed maximum loss is -$212.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a NXTG bull call spread?: The breakeven for the NXTG bull call spread priced on this page is roughly $154.13 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 NXTG market-implied 1-standard-deviation expected move is approximately 5.53%; 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 NXTG?: Bull call spreads on NXTG reduce the cost of a bullish NXTG 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 NXTG implied volatility affect this bull call spread?: NXTG ATM IV is at 19.30% with IV rank near 1.91%, 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.