ACLS Bull Call Spread Strategy
ACLS (Axcelis Technologies, Inc.), in the Technology sector, (Semiconductors industry), listed on NASDAQ.
Axcelis Technologies, Inc. is a company dedicated to the creation, production, and maintenance of specialized ion implantation and other essential processing machinery used in the fabrication of semiconductor chips. Operating internationally, its presence extends across North America, Europe, and Asia. The firm offers a wide array of implanter technologies, such as high-energy, high-current, and medium-current systems, designed to meet diverse application needs. Furthermore, Axcelis provides extensive post-sales support and lifecycle solutions, including the sale of pre-owned equipment, replacement parts, system upgrades, ongoing maintenance, and client instruction. It directly furnishes its advanced equipment and services to microchip manufacturers through its own dedicated sales personnel. Founded in 1978, Axcelis Technologies has its corporate headquarters situated in Beverly, Massachusetts.
ACLS (Axcelis Technologies, Inc.) trades in the Technology sector, specifically Semiconductors, with a market capitalization of approximately $3.22B, a trailing P/E of 30.84, a beta of 1.87 versus the broader market, a 52-week range of 73.6-193.78, average daily share volume of 378K, a public-listing history dating back to 2000, approximately 1K full-time employees. These structural characteristics shape how ACLS stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.87 indicates ACLS has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a bull call spread on ACLS?
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.
ACLS snapshot
As of November 13, 2026, spot at $103.88, ATM IV 66.80%, IV rank 35.52%, expected move 19.15%. The bull call spread on ACLS below is built from the November 13, 2026 end-of-day chain, with strikes snapped to listed contracts and premiums pulled from the bid/ask midpoint at a 35-day expiry.
Why this bull call spread structure on ACLS specifically: ACLS IV at 66.80% 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 19.15% (roughly $19.89 on the underlying). The 35-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ACLS expiries trade a higher absolute premium for lower per-day decay. Position sizing on ACLS should anchor to the underlying notional of $103.88 per share and to the trader's directional view on ACLS stock.
ACLS bull call spread setup
The ACLS bull call spread below is built from the November 13, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With ACLS at $103.88 on that close, the first option leg uses a $105.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ACLS chain at a 35-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 ACLS shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $105.00 | $8.25 |
| Sell 1 | Call | $110.00 | $6.05 |
ACLS bull call spread risk and reward
- Net Premium / Debit
- -$220.00
- Max Profit (per contract)
- $280.00
- Max Loss (per contract)
- -$220.00
- Breakeven(s)
- $107.20
- Risk / Reward Ratio
- 1.273
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.
ACLS bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on ACLS. 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% | -$220.00 |
| $22.98 | -77.9% | -$220.00 |
| $45.94 | -55.8% | -$220.00 |
| $68.91 | -33.7% | -$220.00 |
| $91.88 | -11.6% | -$220.00 |
| $114.85 | +10.6% | +$280.00 |
| $137.81 | +32.7% | +$280.00 |
| $160.78 | +54.8% | +$280.00 |
| $183.75 | +76.9% | +$280.00 |
| $206.72 | +99.0% | +$280.00 |
When traders use bull call spread on ACLS
Bull call spreads on ACLS reduce the cost of a bullish ACLS stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
ACLS thesis for this bull call spread
The market-implied 1-standard-deviation range for ACLS extends from approximately $83.99 on the downside to $123.77 on the upside. A ACLS bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on ACLS, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current ACLS IV rank near 35.52% is mid-range against its 1-year distribution, so the IV signal is neutral; the bull call spread thesis on ACLS should anchor more to the directional view and the expected-move geometry. As a Technology name, ACLS options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ACLS-specific events.
ACLS 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. ACLS positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ACLS alongside the broader basket even when ACLS-specific fundamentals are unchanged. Long-premium structures like a bull call spread on ACLS 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 ACLS chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on ACLS?
- A bull call spread on ACLS is the bull call spread strategy applied to ACLS (stock). 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 ACLS stock at $103.88 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed ACLS chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are ACLS 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 ACLS bull call spread priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 66.80%), the computed maximum profit is $280.00 per contract and the computed maximum loss is -$220.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ACLS bull call spread?
- The breakeven for the ACLS bull call spread priced on this page is roughly $107.20 at expiration, derived from the November 13, 2026 end-of-day chain's premiums. Breakeven is the underlying price at which the strategy's P&L crosses zero ignoring transaction costs and assignment risk. The ACLS market-implied 1-standard-deviation expected move in the same options snapshot is approximately 19.15%; 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 ACLS?
- Bull call spreads on ACLS reduce the cost of a bullish ACLS stock 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 ACLS implied volatility affect this bull call spread?
- ACLS ATM IV is at 66.80% with IV rank near 35.52%, 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.