How are YETH 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 YETH bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 89.10%), the computed maximum profit is $0.00 per contract and the computed maximum loss is $0.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.

What is the breakeven for a YETH bull call spread?

The breakeven for the YETH 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 YETH market-implied 1-standard-deviation expected move is approximately 25.54%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

YETH ATM IV is at 89.10% with IV rank near 16.70%, 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.

YETH Bull Call Spread Strategy

YETH (Roundhill Investments - Ether Covered Call Strategy ETF), in the Financial Services sector, (Asset Management - Cryptocurrency industry), listed on CBOE.

The Roundhill Ether Covered Call Strategy ETF, identified by its ticker YETH, is structured to provide investors with a way to gain exposure to Ether, the native cryptocurrency of the Ethereum blockchain. However, this participation includes an inherent limit on potential gains. A core objective of the fund, in addition to offering access to the digital asset, is to generate potential income for its holders. YETH is an actively managed investment vehicle, meaning its strategy and portfolio are regularly adjusted by its managers.

YETH (Roundhill Investments - Ether Covered Call Strategy ETF) trades in the Financial Services sector, specifically Asset Management - Cryptocurrency, with a market capitalization of approximately $67.8M, a beta of 1.25 versus the broader market, a 52-week range of 7.63-31.78, average daily share volume of 96K, a public-listing history dating back to 2024. These structural characteristics shape how YETH etf options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 1.25 places YETH roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. YETH 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 YETH?

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 YETH snapshot

As of June 30, 2026, spot at $7.95, ATM IV 89.10%, IV rank 16.70%, expected move 25.54%. The bull call spread on YETH 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 YETH specifically: YETH IV at 89.10% is on the cheap side of its 1-year range, which favors premium-buying structures like a YETH bull call spread, with a market-implied 1-standard-deviation move of approximately 25.54% (roughly $2.03 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 YETH expiries trade a higher absolute premium for lower per-day decay. Position sizing on YETH should anchor to the underlying notional of $7.95 per share and to the trader's directional view on YETH etf.

YETH bull call spread setup

The YETH 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 YETH near $7.95, the first option leg uses a $8.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed YETH 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 YETH shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$8.00	$1.05
Sell 1	Call	$8.00	$1.05

YETH bull call spread risk and reward

Net Premium / Debit: $0.00
Max Profit (per contract): $0.00
Max Loss (per contract): $0.00
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.

YETH bull call spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bull call spread on YETH. 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%	$0.00
$1.77	-77.8%	$0.00
$3.52	-55.7%	$0.00
$5.28	-33.6%	$0.00
$7.04	-11.5%	$0.00
$8.79	+10.6%	$0.00
$10.55	+32.7%	$0.00
$12.31	+54.8%	$0.00
$14.06	+76.9%	$0.00
$15.82	+99.0%	$0.00

When traders use bull call spread on YETH

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

YETH thesis for this bull call spread

The market-implied 1-standard-deviation range for YETH extends from approximately $5.92 on the downside to $9.98 on the upside. A YETH bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on YETH, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current YETH IV rank near 16.70% 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 YETH at 89.10%. As a Financial Services name, YETH options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to YETH-specific events.

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

Frequently asked questions

What is a bull call spread on YETH?: A bull call spread on YETH is the bull call spread strategy applied to YETH (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 YETH etf trading near $7.95, the strikes shown on this page are snapped to the nearest listed YETH chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
How are YETH 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 YETH bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 89.10%), the computed maximum profit is $0.00 per contract and the computed maximum loss is $0.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
What is the breakeven for a YETH bull call spread?: The breakeven for the YETH 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 YETH market-implied 1-standard-deviation expected move is approximately 25.54%; 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 YETH?: Bull call spreads on YETH reduce the cost of a bullish YETH 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 YETH implied volatility affect this bull call spread?: YETH ATM IV is at 89.10% with IV rank near 16.70%, 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.