How are RGTX 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 RGTX bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 189.70%), the computed maximum profit is $62.50 per contract and the computed maximum loss is -$37.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a RGTX bull call spread?

The breakeven for the RGTX bull call spread priced on this page is roughly $19.38 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 RGTX market-implied 1-standard-deviation expected move is approximately 54.39%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

RGTX ATM IV is at 189.70% with IV rank near 29.98%, 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.

RGTX Bull Call Spread Strategy

RGTX (Daily Target 2X Long RGTI ETF), in the Financial Services sector, (Asset Management - Leveraged industry), listed on NASDAQ.

The Defiance Daily Target 2X Long RGTI ETF is engineered to yield investment results that are double (200%) the daily percentage change in the stock price of Rigetti Computing, Inc. (NASDAQ: RGTI). Due to its daily leveraged design, this Fund significantly differs from most other exchange-traded funds, and there is no assurance it will consistently achieve its stated goal. It is important to note that the Fund is not intended to provide a cumulative return of two times RGTI's performance for any duration exceeding a single trading day.

RGTX (Daily Target 2X Long RGTI ETF) trades in the Financial Services sector, specifically Asset Management - Leveraged, with a market capitalization of approximately $11.7M, a beta of 8.97 versus the broader market, a 52-week range of 11.8-501.8, average daily share volume of 1.8M, a public-listing history dating back to 2025. These structural characteristics shape how RGTX etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 8.97 indicates RGTX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. RGTX 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 RGTX?

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 RGTX snapshot

As of June 30, 2026, spot at $18.70, ATM IV 189.70%, IV rank 29.98%, expected move 54.39%. The bull call spread on RGTX 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 17-day expiry.

Why this bull call spread structure on RGTX specifically: RGTX IV at 189.70% is on the cheap side of its 1-year range, which favors premium-buying structures like a RGTX bull call spread, with a market-implied 1-standard-deviation move of approximately 54.39% (roughly $10.17 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated RGTX expiries trade a higher absolute premium for lower per-day decay. Position sizing on RGTX should anchor to the underlying notional of $18.70 per share and to the trader's directional view on RGTX etf.

RGTX bull call spread setup

The RGTX 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 RGTX near $18.70, the first option leg uses a $19.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed RGTX chain at a 17-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 RGTX shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$19.00	$2.73
Sell 1	Call	$20.00	$2.35

RGTX bull call spread risk and reward

Net Premium / Debit: -$37.50
Max Profit (per contract): $62.50
Max Loss (per contract): -$37.50
Breakeven(s): $19.38
Risk / Reward Ratio: 1.667

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.

RGTX bull call spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bull call spread on RGTX. 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	-99.9%	-$37.50
$4.14	-77.8%	-$37.50
$8.28	-55.7%	-$37.50
$12.41	-33.6%	-$37.50
$16.54	-11.5%	-$37.50
$20.68	+10.6%	+$62.50
$24.81	+32.7%	+$62.50
$28.94	+54.8%	+$62.50
$33.08	+76.9%	+$62.50
$37.21	+99.0%	+$62.50

When traders use bull call spread on RGTX

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

RGTX thesis for this bull call spread

The market-implied 1-standard-deviation range for RGTX extends from approximately $8.53 on the downside to $28.87 on the upside. A RGTX bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on RGTX, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current RGTX IV rank near 29.98% 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 RGTX at 189.70%. As a Financial Services name, RGTX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to RGTX-specific events.

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

Frequently asked questions

What is a bull call spread on RGTX?: A bull call spread on RGTX is the bull call spread strategy applied to RGTX (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 RGTX etf trading near $18.70, the strikes shown on this page are snapped to the nearest listed RGTX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are RGTX 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 RGTX bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 189.70%), the computed maximum profit is $62.50 per contract and the computed maximum loss is -$37.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a RGTX bull call spread?: The breakeven for the RGTX bull call spread priced on this page is roughly $19.38 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 RGTX market-implied 1-standard-deviation expected move is approximately 54.39%; 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 RGTX?: Bull call spreads on RGTX reduce the cost of a bullish RGTX 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 RGTX implied volatility affect this bull call spread?: RGTX ATM IV is at 189.70% with IV rank near 29.98%, 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.