AMLX Bull Call Spread Strategy
AMLX (Amylyx Pharmaceuticals, Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Amylyx Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, engages in developing various therapeutics for amyotrophic lateral sclerosis (ALS) and other neurodegenerative diseases. The company's product pipeline includes AMX0035, a dual UPR-Bax apoptosis inhibitor composed of sodium phenylbutyrate and taurursodiol for the treatment of amyotrophic lateral sclerosis. It is also developing AMX0035 for other neurodegenerative diseases. The company was founded in 2013 and is headquartered in Cambridge, Massachusetts.
AMLX (Amylyx Pharmaceuticals, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $1.21B, a beta of -0.10 versus the broader market, a 52-week range of 4.265-18.605, average daily share volume of 1.1M, a public-listing history dating back to 2022, approximately 123 full-time employees. These structural characteristics shape how AMLX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.10 indicates AMLX 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 AMLX?
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 AMLX snapshot
As of May 15, 2026, spot at $13.29, ATM IV 69.20%, IV rank 9.60%, expected move 19.84%. The bull call spread on AMLX 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 AMLX specifically: AMLX IV at 69.20% is on the cheap side of its 1-year range, which favors premium-buying structures like a AMLX bull call spread, with a market-implied 1-standard-deviation move of approximately 19.84% (roughly $2.64 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 AMLX expiries trade a higher absolute premium for lower per-day decay. Position sizing on AMLX should anchor to the underlying notional of $13.29 per share and to the trader's directional view on AMLX stock.
AMLX bull call spread setup
The AMLX 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 AMLX near $13.29, the first option leg uses a $13.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AMLX 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 AMLX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $13.00 | $1.28 |
| Sell 1 | Call | $14.00 | $0.83 |
AMLX bull call spread risk and reward
- Net Premium / Debit
- -$45.00
- Max Profit (per contract)
- $55.00
- Max Loss (per contract)
- -$45.00
- Breakeven(s)
- $13.45
- Risk / Reward Ratio
- 1.222
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.
AMLX bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on AMLX. 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 | -99.9% | -$45.00 |
| $2.95 | -77.8% | -$45.00 |
| $5.88 | -55.7% | -$45.00 |
| $8.82 | -33.6% | -$45.00 |
| $11.76 | -11.5% | -$45.00 |
| $14.70 | +10.6% | +$55.00 |
| $17.63 | +32.7% | +$55.00 |
| $20.57 | +54.8% | +$55.00 |
| $23.51 | +76.9% | +$55.00 |
| $26.45 | +99.0% | +$55.00 |
When traders use bull call spread on AMLX
Bull call spreads on AMLX reduce the cost of a bullish AMLX stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
AMLX thesis for this bull call spread
The market-implied 1-standard-deviation range for AMLX extends from approximately $10.65 on the downside to $15.93 on the upside. A AMLX bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on AMLX, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current AMLX IV rank near 9.60% 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 AMLX at 69.20%. As a Healthcare name, AMLX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AMLX-specific events.
AMLX 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. AMLX positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move AMLX alongside the broader basket even when AMLX-specific fundamentals are unchanged. Long-premium structures like a bull call spread on AMLX 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 AMLX chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on AMLX?
- A bull call spread on AMLX is the bull call spread strategy applied to AMLX (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 AMLX stock trading near $13.29, the strikes shown on this page are snapped to the nearest listed AMLX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are AMLX 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 AMLX bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 69.20%), the computed maximum profit is $55.00 per contract and the computed maximum loss is -$45.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a AMLX bull call spread?
- The breakeven for the AMLX bull call spread priced on this page is roughly $13.45 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 AMLX market-implied 1-standard-deviation expected move is approximately 19.84%; 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 AMLX?
- Bull call spreads on AMLX reduce the cost of a bullish AMLX 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 AMLX implied volatility affect this bull call spread?
- AMLX ATM IV is at 69.20% with IV rank near 9.60%, 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.