HCKT Bull Call Spread Strategy
HCKT (The Hackett Group, Inc.), in the Technology sector, (Information Technology Services industry), listed on NASDAQ.
The Hackett Group, Inc. operates as a strategic advisory and technology consulting firm primarily in North America and internationally. It offers best practice intelligence center, an online searchable repository; best practice accelerators that provide web-based access to best practices, customized software configuration tools, and best practice process flows; advisor inquiry for access to fact-based advice on proven approaches and methods; best practice research that provides insights into the proven approaches; and peer interaction comprising member-led webcasts, annual best practice conferences, annual member forums, membership performance surveys, and client-submitted content, as well as intellectual property as-a-service and Hackett Institute programs. The company's benchmarking services conduct studies for selling, general and administrative, finance, human resources, information technology, procurement, enterprise performance management, and shared services; and business transformation practices to help clients develop coordinated strategy for achieving performance enhancements across the enterprise. It also provides Oracle EEA solutions for core financial close and consolidation, integrated business planning, and reporting/advanced analytics areas. In addition, the company offers SAP solutions, including planning, architecture, and vendor evaluation and selection through implementation, customization, testing, and integration; post-implementation support, change management, exception management, process transparency, system documentation, and end-user training; off-shore application development, and application maintenance and support services; and OneStream practice that helps clients choose and deploy OneStream XF Platform and Market Place solutions. The company was formerly known as Answerthink, Inc. and changed its name to The Hackett Group, Inc. in 2008.
HCKT (The Hackett Group, Inc.) trades in the Technology sector, specifically Information Technology Services, with a market capitalization of approximately $232.2M, a trailing P/E of 16.48, a beta of 0.98 versus the broader market, a 52-week range of 9.155-26.29, average daily share volume of 359K, a public-listing history dating back to 1998, approximately 2K full-time employees. These structural characteristics shape how HCKT stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.98 places HCKT roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. HCKT pays a dividend, which adjusts put-call parity and shifts the ex-dividend pricing across the listed chain.
What is a bull call spread on HCKT?
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 HCKT snapshot
As of May 15, 2026, spot at $9.44, ATM IV 66.70%, IV rank 18.02%, expected move 19.12%. The bull call spread on HCKT 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 HCKT specifically: HCKT IV at 66.70% is on the cheap side of its 1-year range, which favors premium-buying structures like a HCKT bull call spread, with a market-implied 1-standard-deviation move of approximately 19.12% (roughly $1.81 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 HCKT expiries trade a higher absolute premium for lower per-day decay. Position sizing on HCKT should anchor to the underlying notional of $9.44 per share and to the trader's directional view on HCKT stock.
HCKT bull call spread setup
The HCKT 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 HCKT near $9.44, the first option leg uses a $9.44 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HCKT 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 HCKT shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $9.44 | N/A |
| Sell 1 | Call | $9.91 | N/A |
HCKT 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.
HCKT bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on HCKT. 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 HCKT
Bull call spreads on HCKT reduce the cost of a bullish HCKT stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
HCKT thesis for this bull call spread
The market-implied 1-standard-deviation range for HCKT extends from approximately $7.63 on the downside to $11.25 on the upside. A HCKT bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on HCKT, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current HCKT IV rank near 18.02% 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 HCKT at 66.70%. As a Technology name, HCKT options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HCKT-specific events.
HCKT 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. HCKT positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HCKT alongside the broader basket even when HCKT-specific fundamentals are unchanged. Long-premium structures like a bull call spread on HCKT 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 HCKT chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on HCKT?
- A bull call spread on HCKT is the bull call spread strategy applied to HCKT (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 HCKT stock trading near $9.44, the strikes shown on this page are snapped to the nearest listed HCKT chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are HCKT 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 HCKT bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 66.70%), 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 HCKT bull call spread?
- The breakeven for the HCKT 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 HCKT market-implied 1-standard-deviation expected move is approximately 19.12%; 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 HCKT?
- Bull call spreads on HCKT reduce the cost of a bullish HCKT 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 HCKT implied volatility affect this bull call spread?
- HCKT ATM IV is at 66.70% with IV rank near 18.02%, 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.