SATG Bull Call Spread Strategy
SATG (Leverage Shares 2x Long SATS Daily ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.
The Leverage Shares 2x Long SATS Daily ETF (SATG) is a 2x Daily Leveraged (Bull) ETF designed for active traders seeking to magnify short-term results. The SATG ETF aims to achieve two times (200%) the daily performance of SATS stock, minus fees and expenses.
SATG (Leverage Shares 2x Long SATS Daily ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $7.5M, a beta of 0.46 versus the broader market, a 52-week range of 13.475-23.55, average daily share volume of 100K, a public-listing history dating back to 2025. These structural characteristics shape how SATG etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.46 indicates SATG has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure.
What is a bull call spread on SATG?
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 SATG snapshot
As of May 15, 2026, spot at $21.94, ATM IV 143.20%, expected move 41.05%. The bull call spread on SATG 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 34-day expiry.
Why this bull call spread structure on SATG specifically: IV rank is unavailable in the current snapshot, so regime-based timing for SATG is inferred from ATM IV at 143.20% alone, with a market-implied 1-standard-deviation move of approximately 41.05% (roughly $9.01 on the underlying). The 34-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated SATG expiries trade a higher absolute premium for lower per-day decay. Position sizing on SATG should anchor to the underlying notional of $21.94 per share and to the trader's directional view on SATG etf.
SATG bull call spread setup
The SATG 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 SATG near $21.94, the first option leg uses a $22.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SATG chain at a 34-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 SATG shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $22.00 | $3.75 |
| Sell 1 | Call | $23.00 | $3.08 |
SATG bull call spread risk and reward
- Net Premium / Debit
- -$67.50
- Max Profit (per contract)
- $32.50
- Max Loss (per contract)
- -$67.50
- Breakeven(s)
- $22.68
- Risk / Reward Ratio
- 0.481
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.
SATG bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on SATG. 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% | -$67.50 |
| $4.86 | -77.8% | -$67.50 |
| $9.71 | -55.7% | -$67.50 |
| $14.56 | -33.6% | -$67.50 |
| $19.41 | -11.5% | -$67.50 |
| $24.26 | +10.6% | +$32.50 |
| $29.11 | +32.7% | +$32.50 |
| $33.96 | +54.8% | +$32.50 |
| $38.81 | +76.9% | +$32.50 |
| $43.66 | +99.0% | +$32.50 |
When traders use bull call spread on SATG
Bull call spreads on SATG reduce the cost of a bullish SATG etf position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
SATG thesis for this bull call spread
The market-implied 1-standard-deviation range for SATG extends from approximately $12.93 on the downside to $30.95 on the upside. A SATG bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on SATG, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. As a Financial Services name, SATG options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SATG-specific events.
SATG 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. SATG positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SATG alongside the broader basket even when SATG-specific fundamentals are unchanged. Long-premium structures like a bull call spread on SATG 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 SATG chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on SATG?
- A bull call spread on SATG is the bull call spread strategy applied to SATG (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 SATG etf trading near $21.94, the strikes shown on this page are snapped to the nearest listed SATG chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SATG 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 SATG bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 143.20%), the computed maximum profit is $32.50 per contract and the computed maximum loss is -$67.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a SATG bull call spread?
- The breakeven for the SATG bull call spread priced on this page is roughly $22.68 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 SATG market-implied 1-standard-deviation expected move is approximately 41.05%; 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 SATG?
- Bull call spreads on SATG reduce the cost of a bullish SATG 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 SATG implied volatility affect this bull call spread?
- Current SATG ATM IV is 143.20%; IV rank context is unavailable in the current snapshot.