ATNM Bull Call Spread Strategy
ATNM (Actinium Pharmaceuticals, Inc.), in the Healthcare sector, (Biotechnology industry), listed on AMEX.
Actinium Pharmaceuticals, Inc., a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for bone marrow transplant (BMT) or a type of cellular therapy, and for other adoptive cell therapies. Its lead product candidate, I-131 apamistamab (Iomab-B) that is in a pivotal Phase III clinical trial for elderly relapsed or refractory acute myeloid leukemia trial for BMT conditioning; and a Phase I study with a CD19- targeted CAR T-cell therapy with memorial sloan kettering cancer center. The company also offers clinical and preclinical development programs that utilize multiple isotopes, including Actinium-225, Iodine-131, and Lutetium-177 directed at multiple validated cancer targets, including CD45, CD33, CD38, CD47, HER2, and HER3 for targeted conditioning prior to cell and gene therapies, such as bone marrow transplant and cancer therapeutics as single agents or in combination with other therapeutic modalities. It has collaboration with Astellas Pharma, Inc. to develop theranostics for solid tumor indications; EpicentRx, Inc that focuses on a novel CD47 immunotherapy targeted radiotherapy; and AVEO Oncology that focuses on developing a HER3 targeting ARC for solid tumors. The company was incorporated in 2000 and is based in New York, New York.
ATNM (Actinium Pharmaceuticals, Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $40.5M, a beta of -0.11 versus the broader market, a 52-week range of 0.952-1.945, average daily share volume of 182K, a public-listing history dating back to 2012, approximately 31 full-time employees. These structural characteristics shape how ATNM stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of -0.11 indicates ATNM 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 ATNM?
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 ATNM snapshot
As of May 15, 2026, spot at $1.25, ATM IV 33.50%, IV rank 2.75%, expected move 9.60%. The bull call spread on ATNM 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 ATNM specifically: ATNM IV at 33.50% is on the cheap side of its 1-year range, which favors premium-buying structures like a ATNM bull call spread, with a market-implied 1-standard-deviation move of approximately 9.60% (roughly $0.12 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 ATNM expiries trade a higher absolute premium for lower per-day decay. Position sizing on ATNM should anchor to the underlying notional of $1.25 per share and to the trader's directional view on ATNM stock.
ATNM bull call spread setup
The ATNM 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 ATNM near $1.25, the first option leg uses a $1.25 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ATNM 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 ATNM shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $1.25 | N/A |
| Sell 1 | Call | $1.31 | N/A |
ATNM bull call spread risk and reward
- Net Premium / Debit
- N/A
- Max Profit (per contract)
- Unbounded
- Max Loss (per contract)
- Unbounded
- 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.
ATNM bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on ATNM. 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.
When traders use bull call spread on ATNM
Bull call spreads on ATNM reduce the cost of a bullish ATNM stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
ATNM thesis for this bull call spread
The market-implied 1-standard-deviation range for ATNM extends from approximately $1.13 on the downside to $1.37 on the upside. A ATNM bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on ATNM, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current ATNM IV rank near 2.75% 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 ATNM at 33.50%. As a Healthcare name, ATNM options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ATNM-specific events.
ATNM 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. ATNM positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ATNM alongside the broader basket even when ATNM-specific fundamentals are unchanged. Long-premium structures like a bull call spread on ATNM 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 ATNM chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on ATNM?
- A bull call spread on ATNM is the bull call spread strategy applied to ATNM (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 ATNM stock trading near $1.25, the strikes shown on this page are snapped to the nearest listed ATNM chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ATNM 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 ATNM bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 33.50%), the computed maximum profit is unbounded per contract and the computed maximum loss is unbounded per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ATNM bull call spread?
- The breakeven for the ATNM 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 ATNM market-implied 1-standard-deviation expected move is approximately 9.60%; 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 ATNM?
- Bull call spreads on ATNM reduce the cost of a bullish ATNM 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 ATNM implied volatility affect this bull call spread?
- ATNM ATM IV is at 33.50% with IV rank near 2.75%, 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.