CYRX Bull Call Spread Strategy
CYRX (Cryoport, Inc.), in the Industrials sector, (Integrated Freight & Logistics industry), listed on NASDAQ.
Cryoport, Inc., a life sciences services company, provides temperature-controlled logistics solutions in the Americas, Europe, the Middle East, Africa, and the Asia Pacific. The company offers Cryoportal, a cloud-based logistics management platform that supports the management of shipments, which includes order entry, document preparation, customs documentation, courier management, real-time shipment tracking and monitoring, issue resolution, and regulatory compliance requirements; and CryoPort Express Shippers, which is used to ensure that the stability of shipped biologic commodities is maintained throughout the shipping cycle. It also provides information dashboards and validation documentation for shipments through data collected by the SmartPak Condition Monitoring System; and vacuum insulated aluminum dewars and cryogenic freezers systems. In addition, the company offers biological specimen cryopreservation storage and maintenance; archiving, monitoring, tracking, receipt, and delivery of samples; transportation of frozen biological specimens to and from customer locations; and management of incoming and outgoing biological specimens, as well as provides logistics support and management; and short-term logistics and engineering consulting services. It serves biopharma/pharma, animal health, and human reproductive medicine markets. The company was founded in 1999 and is headquartered in Brentwood, Tennessee.
CYRX (Cryoport, Inc.) trades in the Industrials sector, specifically Integrated Freight & Logistics, with a market capitalization of approximately $667.8M, a trailing P/E of 8.24, a beta of 1.75 versus the broader market, a 52-week range of 5.31-13.79, average daily share volume of 499K, a public-listing history dating back to 2005, approximately 1K full-time employees. These structural characteristics shape how CYRX stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.75 indicates CYRX has historically moved more than the broader market, amplifying both the directional payoff and the realized volatility relative to an index-equivalent position. The trailing P/E of 8.24 is on the value side, where IV often compresses outside event windows because forward growth expectations are already discounted into the share price.
What is a bull call spread on CYRX?
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 CYRX snapshot
As of May 15, 2026, spot at $13.16, ATM IV 66.00%, IV rank 25.74%, expected move 18.92%. The bull call spread on CYRX 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 CYRX specifically: CYRX IV at 66.00% is on the cheap side of its 1-year range, which favors premium-buying structures like a CYRX bull call spread, with a market-implied 1-standard-deviation move of approximately 18.92% (roughly $2.49 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 CYRX expiries trade a higher absolute premium for lower per-day decay. Position sizing on CYRX should anchor to the underlying notional of $13.16 per share and to the trader's directional view on CYRX stock.
CYRX bull call spread setup
The CYRX 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 CYRX near $13.16, the first option leg uses a $13.16 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed CYRX 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 CYRX shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $13.16 | N/A |
| Sell 1 | Call | $13.82 | N/A |
CYRX 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.
CYRX bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on CYRX. 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 CYRX
Bull call spreads on CYRX reduce the cost of a bullish CYRX stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
CYRX thesis for this bull call spread
The market-implied 1-standard-deviation range for CYRX extends from approximately $10.67 on the downside to $15.65 on the upside. A CYRX bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on CYRX, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current CYRX IV rank near 25.74% 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 CYRX at 66.00%. As a Industrials name, CYRX options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to CYRX-specific events.
CYRX 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. CYRX positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move CYRX alongside the broader basket even when CYRX-specific fundamentals are unchanged. Long-premium structures like a bull call spread on CYRX 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 CYRX chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on CYRX?
- A bull call spread on CYRX is the bull call spread strategy applied to CYRX (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 CYRX stock trading near $13.16, the strikes shown on this page are snapped to the nearest listed CYRX chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are CYRX 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 CYRX bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 66.00%), 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 CYRX bull call spread?
- The breakeven for the CYRX 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 CYRX market-implied 1-standard-deviation expected move is approximately 18.92%; 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 CYRX?
- Bull call spreads on CYRX reduce the cost of a bullish CYRX 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 CYRX implied volatility affect this bull call spread?
- CYRX ATM IV is at 66.00% with IV rank near 25.74%, 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.