CELC Bull Call Spread Strategy
CELC (Celcuity Inc.), in the Healthcare sector, (Biotechnology industry), listed on NASDAQ.
Celcuity Inc., a clinical stage biotechnology company, focuses on the development of molecularly targeted therapies for cancer patients in the United States. The company's CELsignia diagnostic platform uses a patient's living tumor cells to identify the specific abnormal cellular process driving a patient's cancer and the related targeted therapy for the treatment. Its drug candidate includes Gedatolisib, which selectively targets various class I isoforms of PI3K and mammalian target of rapamycin and focus on the treatment of patients with hormone receptor positive, HER2-negative, and advanced or metastatic breast cancer. The company is also developing CELsignia MP test, a qualitative laboratory developed test that measures HER2, c-Met, and PI3K signaling activity in breast and ovarian tumor cells. It had a license agreement with Pfizer, Inc. for the development and commercialization rights to Gedatolisib. Celcuity Inc. was founded in 2011 and is headquartered in Minneapolis, Minnesota.
CELC (Celcuity Inc.) trades in the Healthcare sector, specifically Biotechnology, with a market capitalization of approximately $6.02B, a beta of 0.09 versus the broader market, a 52-week range of 9.51-151.02, average daily share volume of 840K, a public-listing history dating back to 2017, approximately 87 full-time employees. These structural characteristics shape how CELC stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.09 indicates CELC 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 CELC?
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 CELC snapshot
As of May 15, 2026, spot at $137.57, ATM IV 80.20%, IV rank 10.42%, expected move 22.99%. The bull call spread on CELC 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 CELC specifically: CELC IV at 80.20% is on the cheap side of its 1-year range, which favors premium-buying structures like a CELC bull call spread, with a market-implied 1-standard-deviation move of approximately 22.99% (roughly $31.63 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 CELC expiries trade a higher absolute premium for lower per-day decay. Position sizing on CELC should anchor to the underlying notional of $137.57 per share and to the trader's directional view on CELC stock.
CELC bull call spread setup
The CELC 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 CELC near $137.57, the first option leg uses a $140.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CELC 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 CELC shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $140.00 | $12.10 |
| Sell 1 | Call | $145.00 | $10.00 |
CELC bull call spread risk and reward
- Net Premium / Debit
- -$210.00
- Max Profit (per contract)
- $290.00
- Max Loss (per contract)
- -$210.00
- Breakeven(s)
- $142.10
- Risk / Reward Ratio
- 1.381
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.
CELC bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on CELC. 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% | -$210.00 |
| $30.43 | -77.9% | -$210.00 |
| $60.84 | -55.8% | -$210.00 |
| $91.26 | -33.7% | -$210.00 |
| $121.68 | -11.6% | -$210.00 |
| $152.09 | +10.6% | +$290.00 |
| $182.51 | +32.7% | +$290.00 |
| $212.92 | +54.8% | +$290.00 |
| $243.34 | +76.9% | +$290.00 |
| $273.76 | +99.0% | +$290.00 |
When traders use bull call spread on CELC
Bull call spreads on CELC reduce the cost of a bullish CELC stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
CELC thesis for this bull call spread
The market-implied 1-standard-deviation range for CELC extends from approximately $105.94 on the downside to $169.20 on the upside. A CELC bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on CELC, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current CELC IV rank near 10.42% 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 CELC at 80.20%. As a Healthcare name, CELC options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CELC-specific events.
CELC 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. CELC positions also carry Healthcare sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CELC alongside the broader basket even when CELC-specific fundamentals are unchanged. Long-premium structures like a bull call spread on CELC 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 CELC chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on CELC?
- A bull call spread on CELC is the bull call spread strategy applied to CELC (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 CELC stock trading near $137.57, the strikes shown on this page are snapped to the nearest listed CELC chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CELC 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 CELC bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 80.20%), the computed maximum profit is $290.00 per contract and the computed maximum loss is -$210.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CELC bull call spread?
- The breakeven for the CELC bull call spread priced on this page is roughly $142.10 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 CELC market-implied 1-standard-deviation expected move is approximately 22.99%; 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 CELC?
- Bull call spreads on CELC reduce the cost of a bullish CELC 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 CELC implied volatility affect this bull call spread?
- CELC ATM IV is at 80.20% with IV rank near 10.42%, 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.