HURN Bull Call Spread Strategy
HURN (Huron Consulting Group Inc.), in the Industrials sector, (Consulting Services industry), listed on NASDAQ.
Huron Consulting Group Inc. provides global professional services in the United States and internationally. It operates through three segments: Healthcare, Education, and Commercial. The company offers financial and operational performance improvement consulting services; digital services; spanning technology and analytic-related services, including enterprise health record, enterprise resource planning, enterprise performance management, customer relationship management, data management, artificial intelligence and automation, technology managed services, and a portfolio of software products; organizational transformation; revenue cycle managed services and outsourcing; financial and capital advisory consulting; and strategy and innovation consulting. It also provides research-focused consulting and managed services, as well as Huron Research product suite, a software suite designed to facilitate and improve research administration service delivery and compliance. In addition, the company offers software products, financial capital advisory services, regulatory compliance and risk management consulting, and Commercial consulting. The company serves healthcare, education, financial services, industrials and manufacturing, energy and utilities, public sector, and other commercial industries.
HURN (Huron Consulting Group Inc.) trades in the Industrials sector, specifically Consulting Services, with a market capitalization of approximately $1.60B, a trailing P/E of 16.16, a beta of 0.09 versus the broader market, a 52-week range of 84.88-186.78, average daily share volume of 271K, a public-listing history dating back to 2004, approximately 9K full-time employees. These structural characteristics shape how HURN stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.09 indicates HURN 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 HURN?
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 HURN snapshot
As of June 30, 2026, spot at $91.25, ATM IV 59.10%, IV rank 62.35%, expected move 16.94%. The bull call spread on HURN 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 17-day expiry.
Why this bull call spread structure on HURN specifically: HURN IV at 59.10% 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 16.94% (roughly $15.46 on the underlying). The 17-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated HURN expiries trade a higher absolute premium for lower per-day decay. Position sizing on HURN should anchor to the underlying notional of $91.25 per share and to the trader's directional view on HURN stock.
HURN bull call spread setup
The HURN 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 HURN near $91.25, the first option leg uses a $90.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed HURN chain at a 17-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 HURN shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $90.00 | $5.80 |
| Sell 1 | Call | $95.00 | $3.50 |
HURN bull call spread risk and reward
- Net Premium / Debit
- -$230.00
- Max Profit (per contract)
- $270.00
- Max Loss (per contract)
- -$230.00
- Breakeven(s)
- $92.30
- Risk / Reward Ratio
- 1.174
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.
HURN bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on HURN. 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% | -$230.00 |
| $20.18 | -77.9% | -$230.00 |
| $40.36 | -55.8% | -$230.00 |
| $60.53 | -33.7% | -$230.00 |
| $80.71 | -11.6% | -$230.00 |
| $100.88 | +10.6% | +$270.00 |
| $121.06 | +32.7% | +$270.00 |
| $141.23 | +54.8% | +$270.00 |
| $161.41 | +76.9% | +$270.00 |
| $181.58 | +99.0% | +$270.00 |
When traders use bull call spread on HURN
Bull call spreads on HURN reduce the cost of a bullish HURN stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
HURN thesis for this bull call spread
The market-implied 1-standard-deviation range for HURN extends from approximately $75.79 on the downside to $106.71 on the upside. A HURN bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on HURN, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current HURN IV rank near 62.35% is mid-range against its 1-year distribution, so the IV signal is neutral; the bull call spread thesis on HURN should anchor more to the directional view and the expected-move geometry. As a Industrials name, HURN options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to HURN-specific events.
HURN 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. HURN positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move HURN alongside the broader basket even when HURN-specific fundamentals are unchanged. Long-premium structures like a bull call spread on HURN 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 HURN chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on HURN?
- A bull call spread on HURN is the bull call spread strategy applied to HURN (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 HURN stock trading near $91.25, the strikes shown on this page are snapped to the nearest listed HURN chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are HURN 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 HURN bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 59.10%), the computed maximum profit is $270.00 per contract and the computed maximum loss is -$230.00 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a HURN bull call spread?
- The breakeven for the HURN bull call spread priced on this page is roughly $92.30 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 HURN market-implied 1-standard-deviation expected move is approximately 16.94%; 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 HURN?
- Bull call spreads on HURN reduce the cost of a bullish HURN 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 HURN implied volatility affect this bull call spread?
- HURN ATM IV is at 59.10% with IV rank near 62.35%, 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.