DISK Bull Call Spread Strategy
DISK (TEMA MEMORY ETF), in the Communication Services sector, (Telecommunications Services industry), listed on AMEX.
DISH Network Corporation is a connectivity company that has been a disruptive force in driving innovation and value for consumers since 1980. Through its subsidiaries, the company provides television entertainment and award-winning technology to millions of customers with its satellite DISH TV and streaming SLING TV services. In 2020, the company became a nationwide U.S. wireless carrier through the acquisition of Boost Mobile and is building the nation's first cloud-native, OpenRAN-based 5G broadband network.
DISK (TEMA MEMORY ETF) trades in the Communication Services sector, specifically Telecommunications Services, with a market capitalization of approximately $8.7M, a beta of 0.00 versus the broader market, a 52-week range of 28.35-50.46, average daily share volume of 447K, a public-listing history dating back to 2026, approximately 14K full-time employees. These structural characteristics shape how DISK stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.00 indicates DISK 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 DISK?
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.
DISK snapshot
As of August 14, 2026, spot at $38.34, ATM IV 71.10%, expected move 20.38%. The bull call spread on DISK 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 DISK specifically: IV rank is unavailable in the current snapshot, so regime-based timing for DISK is inferred from ATM IV at 71.10% alone, with a market-implied 1-standard-deviation move of approximately 20.38% (roughly $7.82 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 DISK expiries trade a higher absolute premium for lower per-day decay. Position sizing on DISK should anchor to the underlying notional of $38.34 per share and to the trader's directional view on DISK stock.
DISK bull call spread setup
The DISK 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 DISK at $38.34 on that close, the first option leg uses a $38.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed DISK 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 DISK shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $38.00 | $3.70 |
| Sell 1 | Call | $40.00 | $2.83 |
DISK bull call spread risk and reward
- Net Premium / Debit
- -$87.50
- Max Profit (per contract)
- $112.50
- Max Loss (per contract)
- -$87.50
- Breakeven(s)
- $38.88
- Risk / Reward Ratio
- 1.286
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.
DISK bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on DISK. 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% | -$87.50 |
| $8.49 | -77.9% | -$87.50 |
| $16.96 | -55.8% | -$87.50 |
| $25.44 | -33.7% | -$87.50 |
| $33.91 | -11.5% | -$87.50 |
| $42.39 | +10.6% | +$112.50 |
| $50.87 | +32.7% | +$112.50 |
| $59.34 | +54.8% | +$112.50 |
| $67.82 | +76.9% | +$112.50 |
| $76.29 | +99.0% | +$112.50 |
When traders use bull call spread on DISK
Bull call spreads on DISK reduce the cost of a bullish DISK stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
DISK thesis for this bull call spread
The market-implied 1-standard-deviation range for DISK extends from approximately $30.52 on the downside to $46.16 on the upside. A DISK bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on DISK, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. As a Communication Services name, DISK options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to DISK-specific events.
DISK 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. DISK positions also carry Communication Services sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move DISK alongside the broader basket even when DISK-specific fundamentals are unchanged. Long-premium structures like a bull call spread on DISK 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 DISK chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on DISK?
- A bull call spread on DISK is the bull call spread strategy applied to DISK (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 DISK stock at $38.34 on the August 14, 2026 close, the strikes shown on this page are snapped to the nearest listed DISK chain strike and the premiums come straight from that session's bid/ask midpoint.
- How are DISK 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 DISK bull call spread priced from the August 14, 2026 end-of-day chain at a 30-day expiry (ATM IV 71.10%), the computed maximum profit is $112.50 per contract and the computed maximum loss is -$87.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a DISK bull call spread?
- The breakeven for the DISK bull call spread priced on this page is roughly $38.88 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 DISK market-implied 1-standard-deviation expected move in the same options snapshot is approximately 20.38%; 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 DISK?
- Bull call spreads on DISK reduce the cost of a bullish DISK 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 DISK implied volatility affect this bull call spread?
- Current DISK ATM IV is 71.10%; IV rank context is unavailable in the current snapshot.