CACI Bull Call Spread Strategy
CACI (CACI International Inc), in the Technology sector, (Information Technology Services industry), listed on NYSE.
CACI International Inc, alongside its subsidiaries, is a provider of specialized expertise and advanced technology. The company primarily serves enterprise and mission-critical customers by supporting vital national security objectives and facilitating government modernization and transformation efforts across the intelligence, defense, and federal civilian sectors. The company operates through two main divisions: Domestic Operations and International Operations. The Domestic Operations segment focuses on delivering information solutions and services to U.S. federal government agencies and commercial entities. This includes areas such as digital transformation, Command, Control, Communications, Computers, Intelligence, Surveillance, and Reconnaissance (C4ISR), cybersecurity and space technologies, engineering services, enterprise IT management, and mission support. Internationally, CACI offers a suite of IT services, proprietary data, and software products to both commercial and government clients throughout the United Kingdom, mainland Europe, and other global locations.
CACI (CACI International Inc) trades in the Technology sector, specifically Information Technology Services, with a market capitalization of approximately $15.02B, a trailing P/E of 28.05, a beta of 0.54 versus the broader market, a 52-week range of 434.7-683.5, average daily share volume of 300K, a public-listing history dating back to 1980, approximately 27K full-time employees. These structural characteristics shape how CACI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.54 indicates CACI 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 CACI?
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.
CACI snapshot
As of August 14, 2026, spot at $666.61, ATM IV 32.60%, IV rank 21.50%, expected move 9.35%. The bull call spread on CACI below is built from the August 14, 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 CACI specifically: CACI IV at 32.60% is on the cheap side of its 1-year range, which favors premium-buying structures like a CACI bull call spread, with a market-implied 1-standard-deviation move of approximately 9.35% (roughly $62.30 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 CACI expiries trade a higher absolute premium for lower per-day decay. Position sizing on CACI should anchor to the underlying notional of $666.61 per share and to the trader's directional view on CACI stock.
CACI bull call spread setup
The CACI bull call spread below is built from the August 14, 2026 end-of-day chain, with each option leg priced at the bid/ask midpoint of its listed strike. With CACI at $666.61 on that close, the first option leg uses a $670.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CACI 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 CACI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $670.00 | $26.75 |
| Sell 1 | Call | $700.00 | $14.35 |
CACI bull call spread risk and reward
- Net Premium / Debit
- -$1,240.00
- Max Profit (per contract)
- $1,760.00
- Max Loss (per contract)
- -$1,240.00
- Breakeven(s)
- $682.40
- Risk / Reward Ratio
- 1.419
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.
CACI bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on CACI. 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% | -$1,240.00 |
| $147.40 | -77.9% | -$1,240.00 |
| $294.79 | -55.8% | -$1,240.00 |
| $442.18 | -33.7% | -$1,240.00 |
| $589.57 | -11.6% | -$1,240.00 |
| $736.96 | +10.6% | +$1,760.00 |
| $884.35 | +32.7% | +$1,760.00 |
| $1,031.74 | +54.8% | +$1,760.00 |
| $1,179.13 | +76.9% | +$1,760.00 |
| $1,326.52 | +99.0% | +$1,760.00 |
When traders use bull call spread on CACI
Bull call spreads on CACI reduce the cost of a bullish CACI stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
CACI thesis for this bull call spread
The market-implied 1-standard-deviation range for CACI extends from approximately $604.31 on the downside to $728.91 on the upside. A CACI bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on CACI, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current CACI IV rank near 21.50% 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 CACI at 32.60%. As a Technology name, CACI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CACI-specific events.
CACI 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. CACI positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CACI alongside the broader basket even when CACI-specific fundamentals are unchanged. Long-premium structures like a bull call spread on CACI 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 CACI chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on CACI?
- A bull call spread on CACI is the bull call spread strategy applied to CACI (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 CACI stock at $666.61 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed CACI chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are CACI 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 CACI bull call spread priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 32.60%), the computed maximum profit is $1,760.00 per contract and the computed maximum loss is -$1,240.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CACI bull call spread?
- The breakeven for the CACI bull call spread priced on this page is roughly $682.40 at expiration, derived from the August 14, 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 CACI market-implied 1-standard-deviation expected move in the same options snapshot is approximately 9.35%; 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 CACI?
- Bull call spreads on CACI reduce the cost of a bullish CACI 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 CACI implied volatility affect this bull call spread?
- CACI ATM IV is at 32.60% with IV rank near 21.50%, 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.