SKRE Bull Call Spread Strategy
SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF), in the Financial Services sector, (Asset Management industry), listed on NASDAQ.
The fund, under normal circumstances, invests in swap agreements that provide 200% inverse (opposite) daily exposure to TSLA equal to at least 80% of the fund’s net assets (plus any borrowings for investment purposes ). The fund advisor seeks daily leveraged inverse investment results and the fund is very different from most other exchange-traded funds and presents different and greater risks. The fund is non-diversified.
SKRE (Tuttle Capital Daily 2X Inverse Regional Banks ETF) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $2.8M, a beta of -1.80 versus the broader market, a 52-week range of 6.87-13.98, average daily share volume of 133K, a public-listing history dating back to 2024. These structural characteristics shape how SKRE etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -1.80 indicates SKRE has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. SKRE 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 SKRE?
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 SKRE snapshot
As of May 15, 2026, spot at $8.05, ATM IV 107.20%, IV rank 65.53%, expected move 30.73%. The bull call spread on SKRE 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 SKRE specifically: SKRE IV at 107.20% is mid-range versus its 1-year history, so strategy selection should anchor more to the directional thesis than to the IV regime, with a market-implied 1-standard-deviation move of approximately 30.73% (roughly $2.47 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 SKRE expiries trade a higher absolute premium for lower per-day decay. Position sizing on SKRE should anchor to the underlying notional of $8.05 per share and to the trader's directional view on SKRE etf.
SKRE bull call spread setup
The SKRE 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 SKRE near $8.05, the first option leg uses a $8.05 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed SKRE 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 SKRE shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $8.05 | N/A |
| Sell 1 | Call | $8.45 | N/A |
SKRE bull call spread risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- Breakeven(s)
- None on modeled curve
- Risk / Reward Ratio
- N/A
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.
SKRE bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on SKRE. 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.
When traders use bull call spread on SKRE
Bull call spreads on SKRE reduce the cost of a bullish SKRE etf position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
SKRE thesis for this bull call spread
The market-implied 1-standard-deviation range for SKRE extends from approximately $5.58 on the downside to $10.52 on the upside. A SKRE bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on SKRE, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current SKRE IV rank near 65.53% is mid-range against its 1-year distribution, so the IV signal is neutral; the bull call spread thesis on SKRE should anchor more to the directional view and the expected-move geometry. As a Financial Services name, SKRE options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to SKRE-specific events.
SKRE 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. SKRE positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move SKRE alongside the broader basket even when SKRE-specific fundamentals are unchanged. Long-premium structures like a bull call spread on SKRE 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 SKRE chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on SKRE?
- A bull call spread on SKRE is the bull call spread strategy applied to SKRE (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 SKRE etf trading near $8.05, the strikes shown on this page are snapped to the nearest listed SKRE chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are SKRE 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 SKRE bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 107.20%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a SKRE bull call spread?
- The breakeven for the SKRE bull call spread priced on this page is no defined breakeven on the modeled curve 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 SKRE market-implied 1-standard-deviation expected move is approximately 30.73%; 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 SKRE?
- Bull call spreads on SKRE reduce the cost of a bullish SKRE 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 SKRE implied volatility affect this bull call spread?
- SKRE ATM IV is at 107.20% with IV rank near 65.53%, which is mid-range against its 1-year history. Strategy selection depends more on directional thesis and expected move than on a strong IV signal.