How are AMTM 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 AMTM bull call spread priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 57.40%), 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 AMTM bull call spread?

The breakeven for the AMTM bull call spread priced on this page is no defined breakeven on the modeled curve 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 AMTM market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.46%; if the move sits well outside the breakeven distance, the structure's risk-reward becomes correspondingly tighter.

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

AMTM ATM IV is at 57.40% with IV rank near 31.06%, 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.

AMTM Bull Call Spread Strategy

AMTM (Amentum Holdings, Inc.), in the Industrials sector, (Aerospace & Defense industry), listed on NYSE.

Amentum Holdings, Inc. is a provider of critical, technology-driven services, serving both governmental and commercial sectors. Its operations are structured around two distinct segments: Critical Mission Solutions and Cyber & Intelligence. The Critical Mission Solutions (CMS) segment delivers comprehensive support across various domains. This includes testing, training, and operational oversight for advanced missile defense systems. It also furnishes IT and engineering expertise to both defense organizations and the burgeoning space sector. Moreover, CMS offers technological solutions to energy clients, encompassing installation, decommissioning, and vital environmental remediation efforts, in addition to specialized technical consulting services.

AMTM (Amentum Holdings, Inc.) trades in the Industrials sector, specifically Aerospace & Defense, with a market capitalization of approximately $5.37B, a trailing P/E of 26.25, a beta of 0.31 versus the broader market, a 52-week range of 17.72-38.11, average daily share volume of 2.0M, a public-listing history dating back to 2024, approximately 50K full-time employees. These structural characteristics shape how AMTM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.

A beta of 0.31 indicates AMTM 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 AMTM?

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.

AMTM snapshot

As of November 13, 2026, spot at $21.92, ATM IV 57.40%, IV rank 31.06%, expected move 16.46%. The bull call spread on AMTM 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 399-day expiry.

Why this bull call spread structure on AMTM specifically: AMTM IV at 57.40% 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 16.46% (roughly $3.61 on the underlying). The 399-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated AMTM expiries trade a higher absolute premium for lower per-day decay. Position sizing on AMTM should anchor to the underlying notional of $21.92 per share and to the trader's directional view on AMTM stock.

AMTM bull call spread setup

The AMTM 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 AMTM at $21.92 on that close, the first option leg uses a $22.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed AMTM chain at a 399-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 AMTM shares for the stock leg in covered calls and collars).

Action	Type	Strike / Basis	Premium (est)
Buy 1	Call	$22.50	$4.65
Sell 1	Call	$22.50	$4.65

AMTM 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.

AMTM bull call spread payoff curve

Modeled P&L at expiration across a range of underlying prices for the bull call spread on AMTM. 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	-100.0%	$0.00
$4.86	-77.8%	$0.00
$9.70	-55.7%	$0.00
$14.55	-33.6%	$0.00
$19.39	-11.5%	$0.00
$24.24	+10.6%	$0.00
$29.08	+32.7%	$0.00
$33.93	+54.8%	$0.00
$38.77	+76.9%	$0.00
$43.62	+99.0%	$0.00

When traders use bull call spread on AMTM

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

AMTM thesis for this bull call spread

The market-implied 1-standard-deviation range for AMTM extends from approximately $18.31 on the downside to $25.53 on the upside. A AMTM bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on AMTM, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current AMTM IV rank near 31.06% is mid-range against its 1-year distribution, so the IV signal is neutral; the bull call spread thesis on AMTM should anchor more to the directional view and the expected-move geometry. As a Industrials name, AMTM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to AMTM-specific events.

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

Frequently asked questions

What is a bull call spread on AMTM?: A bull call spread on AMTM is the bull call spread strategy applied to AMTM (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 AMTM stock at $21.92 on the November 13, 2026 close, the strikes shown on this page are snapped to the nearest listed AMTM chain strike and the premiums come straight from that session's bid/ask midpoint.
How are AMTM 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 AMTM bull call spread priced from the November 13, 2026 end-of-day chain at a 30-day expiry (ATM IV 57.40%), 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 AMTM bull call spread?: The breakeven for the AMTM bull call spread priced on this page is no defined breakeven on the modeled curve 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 AMTM market-implied 1-standard-deviation expected move in the same options snapshot is approximately 16.46%; 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 AMTM?: Bull call spreads on AMTM reduce the cost of a bullish AMTM 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 AMTM implied volatility affect this bull call spread?: AMTM ATM IV is at 57.40% with IV rank near 31.06%, 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.