CHPT Bull Call Spread Strategy
CHPT (ChargePoint Holdings, Inc.), in the Consumer Cyclical sector, (Specialty Retail industry), listed on NYSE.
ChargePoint Holdings, Inc. provides electric vehicle (EV) charging networks and charging solutions in the United States and internationally. It offers a portfolio of hardware, software, and services for commercial, fleet, and residential customers. The company was founded in 2007 and is headquartered in Campbell, California.
CHPT (ChargePoint Holdings, Inc.) trades in the Consumer Cyclical sector, specifically Specialty Retail, with a market capitalization of approximately $157.0M, a beta of 1.69 versus the broader market, a 52-week range of 4.44-17.78, average daily share volume of 468K, a public-listing history dating back to 2019, approximately 1K full-time employees. These structural characteristics shape how CHPT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.69 indicates CHPT has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position.
What is a bull call spread on CHPT?
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 CHPT snapshot
As of May 15, 2026, spot at $6.69, ATM IV 95.70%, IV rank 30.47%, expected move 27.44%. The bull call spread on CHPT 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 7-day expiry.
Why this bull call spread structure on CHPT specifically: CHPT IV at 95.70% 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 27.44% (roughly $1.84 on the underlying). The 7-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated CHPT expiries trade a higher absolute premium for lower per-day decay. Position sizing on CHPT should anchor to the underlying notional of $6.69 per share and to the trader's directional view on CHPT stock.
CHPT bull call spread setup
The CHPT 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 CHPT near $6.69, the first option leg uses a $6.50 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CHPT chain at a 7-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 CHPT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $6.50 | $0.45 |
| Sell 1 | Call | $7.00 | $0.18 |
CHPT bull call spread risk and reward
- Net Premium / Debit
- -$27.50
- Max Profit (per contract)
- $22.50
- Max Loss (per contract)
- -$27.50
- Breakeven(s)
- $6.78
- Risk / Reward Ratio
- 0.818
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.
CHPT bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on CHPT. 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% | -$27.50 |
| $1.49 | -77.8% | -$27.50 |
| $2.97 | -55.7% | -$27.50 |
| $4.44 | -33.6% | -$27.50 |
| $5.92 | -11.5% | -$27.50 |
| $7.40 | +10.6% | +$22.50 |
| $8.88 | +32.7% | +$22.50 |
| $10.36 | +54.8% | +$22.50 |
| $11.83 | +76.9% | +$22.50 |
| $13.31 | +99.0% | +$22.50 |
When traders use bull call spread on CHPT
Bull call spreads on CHPT reduce the cost of a bullish CHPT stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
CHPT thesis for this bull call spread
The market-implied 1-standard-deviation range for CHPT extends from approximately $4.85 on the downside to $8.53 on the upside. A CHPT bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on CHPT, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current CHPT IV rank near 30.47% is mid-range against its 1-year distribution, so the IV signal is neutral; the bull call spread thesis on CHPT should anchor more to the directional view and the expected-move geometry. As a Consumer Cyclical name, CHPT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CHPT-specific events.
CHPT 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. CHPT positions also carry Consumer Cyclical sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CHPT alongside the broader basket even when CHPT-specific fundamentals are unchanged. Long-premium structures like a bull call spread on CHPT 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 CHPT chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on CHPT?
- A bull call spread on CHPT is the bull call spread strategy applied to CHPT (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 CHPT stock trading near $6.69, the strikes shown on this page are snapped to the nearest listed CHPT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CHPT 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 CHPT bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 95.70%), the computed maximum profit is $22.50 per contract and the computed maximum loss is -$27.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a CHPT bull call spread?
- The breakeven for the CHPT bull call spread priced on this page is roughly $6.78 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 CHPT market-implied 1-standard-deviation expected move is approximately 27.44%; 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 CHPT?
- Bull call spreads on CHPT reduce the cost of a bullish CHPT 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 CHPT implied volatility affect this bull call spread?
- CHPT ATM IV is at 95.70% with IV rank near 30.47%, 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.