STHH Bull Call Spread Strategy
STHH (STMicroelectronics NV ADRhedged), in the Financial Services sector, (Asset Management industry), listed on AMEX.
Under typical circumstances, this investment series primarily commits a minimum of 95% of its total assets to American Depositary Receipts (ADRs) issued by STMicroelectronics NV. To manage potential currency risk, the fund also implements a specific currency swap strategy aimed at hedging against volatility in the exchange rate between the U.S. dollar and the Euro. It's important to note that this fund is not diversified.
STHH (STMicroelectronics NV ADRhedged) trades in the Financial Services sector, specifically Asset Management, with a market capitalization of approximately $1.4M, a beta of 2.86 versus the broader market, a 52-week range of 43.299-162.57, average daily share volume of 3K, a public-listing history dating back to 2025. These structural characteristics shape how STHH etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 2.86 indicates STHH has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. STHH 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 STHH?
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 STHH snapshot
As of June 29, 2026, spot at $149.89, ATM IV 77.30%, expected move 22.16%. The bull call spread on STHH 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 STHH specifically: IV rank is unavailable in the current snapshot, so regime-based timing for STHH is inferred from ATM IV at 77.30% alone, with a market-implied 1-standard-deviation move of approximately 22.16% (roughly $33.22 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 STHH expiries trade a higher absolute premium for lower per-day decay. Position sizing on STHH should anchor to the underlying notional of $149.89 per share and to the trader's directional view on STHH etf.
STHH bull call spread setup
The STHH 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 STHH near $149.89, the first option leg uses a $150.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed STHH 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 STHH shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $150.00 | $10.55 |
| Sell 1 | Call | $155.00 | $7.55 |
STHH bull call spread risk and reward
- Net Premium / Debit
- -$300.00
- Max Profit (per contract)
- $200.00
- Max Loss (per contract)
- -$300.00
- Breakeven(s)
- $153.00
- Risk / Reward Ratio
- 0.667
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.
STHH bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on STHH. 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% | -$300.00 |
| $33.15 | -77.9% | -$300.00 |
| $66.29 | -55.8% | -$300.00 |
| $99.43 | -33.7% | -$300.00 |
| $132.57 | -11.6% | -$300.00 |
| $165.71 | +10.6% | +$200.00 |
| $198.85 | +32.7% | +$200.00 |
| $231.99 | +54.8% | +$200.00 |
| $265.13 | +76.9% | +$200.00 |
| $298.27 | +99.0% | +$200.00 |
When traders use bull call spread on STHH
Bull call spreads on STHH reduce the cost of a bullish STHH etf position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
STHH thesis for this bull call spread
The market-implied 1-standard-deviation range for STHH extends from approximately $116.67 on the downside to $183.11 on the upside. A STHH bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on STHH, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. As a Financial Services name, STHH options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to STHH-specific events.
STHH 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. STHH positions also carry Financial Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move STHH alongside the broader basket even when STHH-specific fundamentals are unchanged. Long-premium structures like a bull call spread on STHH 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 STHH chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on STHH?
- A bull call spread on STHH is the bull call spread strategy applied to STHH (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 STHH etf trading near $149.89, the strikes shown on this page are snapped to the nearest listed STHH chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are STHH 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 STHH bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 77.30%), the computed maximum profit is $200.00 per contract and the computed maximum loss is -$300.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a STHH bull call spread?
- The breakeven for the STHH bull call spread priced on this page is roughly $153.00 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 STHH market-implied 1-standard-deviation expected move is approximately 22.16%; 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 STHH?
- Bull call spreads on STHH reduce the cost of a bullish STHH 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 STHH implied volatility affect this bull call spread?
- Current STHH ATM IV is 77.30%; IV rank context is unavailable in the current snapshot.