ICFI Bull Call Spread Strategy
ICFI (ICF International, Inc.), in the Industrials sector, (Consulting Services industry), listed on NASDAQ.
ICF International, Inc. is a prominent global consultancy offering a wide array of management, marketing, technology, and policy advisory and implementation services to both government and commercial entities worldwide. The firm specializes in in-depth research into pivotal policy, industry, and stakeholder matters, alongside analyzing trends and behaviors, subsequently assessing and quantifying the impact of these initiatives. ICF provides strategic guidance to clients, helping them adeptly navigate an array of societal, market, business, communication, and technological obstacles. Their comprehensive services encompass the development and deployment of policies, programs, and business instruments utilizing both standard and bespoke methodologies. This includes conducting extensive survey research, collecting and analyzing diverse datasets to illuminate key issues, and furnishing clients with actionable business intelligence and streamlined data management solutions for integrated usage. Additionally, ICF focuses on optimizing customer and citizen interactions, modernizing information technology systems, and providing formidable cybersecurity measures to safeguard IT infrastructure against evolving threats.
ICFI (ICF International, Inc.) trades in the Industrials sector, specifically Consulting Services, with a market capitalization of approximately $1.29B, a trailing P/E of 15.30, a beta of 0.54 versus the broader market, a 52-week range of 58.83-101.71, average daily share volume of 370K, a public-listing history dating back to 2006, approximately 9K full-time employees. These structural characteristics shape how ICFI stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 0.54 indicates ICFI has historically moved less than the broader market, dampening realized volatility and producing tighter expected-move bands per unit of dollar exposure. ICFI 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 ICFI?
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 ICFI snapshot
As of June 29, 2026, spot at $74.09, ATM IV 51.60%, IV rank 6.87%, expected move 14.79%. The bull call spread on ICFI 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 81-day expiry.
Why this bull call spread structure on ICFI specifically: ICFI IV at 51.60% is on the cheap side of its 1-year range, which favors premium-buying structures like a ICFI bull call spread, with a market-implied 1-standard-deviation move of approximately 14.79% (roughly $10.96 on the underlying). The 81-day window matched to the front-month expiry keeps theta exposure bounded while still capturing the post-snapshot move; longer-dated ICFI expiries trade a higher absolute premium for lower per-day decay. Position sizing on ICFI should anchor to the underlying notional of $74.09 per share and to the trader's directional view on ICFI stock.
ICFI bull call spread setup
The ICFI 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 ICFI near $74.09, the first option leg uses a $75.00 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed ICFI chain at a 81-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 ICFI shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $75.00 | $5.25 |
| Sell 1 | Call | $80.00 | $3.53 |
ICFI bull call spread risk and reward
- Net Premium / Debit
- -$172.50
- Max Profit (per contract)
- $327.50
- Max Loss (per contract)
- -$172.50
- Breakeven(s)
- $76.73
- Risk / Reward Ratio
- 1.899
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.
ICFI bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on ICFI. 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% | -$172.50 |
| $16.39 | -77.9% | -$172.50 |
| $32.77 | -55.8% | -$172.50 |
| $49.15 | -33.7% | -$172.50 |
| $65.53 | -11.6% | -$172.50 |
| $81.91 | +10.6% | +$327.50 |
| $98.29 | +32.7% | +$327.50 |
| $114.67 | +54.8% | +$327.50 |
| $131.05 | +76.9% | +$327.50 |
| $147.44 | +99.0% | +$327.50 |
When traders use bull call spread on ICFI
Bull call spreads on ICFI reduce the cost of a bullish ICFI stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
ICFI thesis for this bull call spread
The market-implied 1-standard-deviation range for ICFI extends from approximately $63.13 on the downside to $85.05 on the upside. A ICFI bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on ICFI, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current ICFI IV rank near 6.87% 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 ICFI at 51.60%. As a Industrials name, ICFI options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to ICFI-specific events.
ICFI 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. ICFI positions also carry Industrials sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move ICFI alongside the broader basket even when ICFI-specific fundamentals are unchanged. Long-premium structures like a bull call spread on ICFI 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 ICFI chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on ICFI?
- A bull call spread on ICFI is the bull call spread strategy applied to ICFI (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 ICFI stock trading near $74.09, the strikes shown on this page are snapped to the nearest listed ICFI chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are ICFI 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 ICFI bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 51.60%), the computed maximum profit is $327.50 per contract and the computed maximum loss is -$172.50 per contract. Live intraday quotes will differ as the chain moves through the trading session.
- What is the breakeven for a ICFI bull call spread?
- The breakeven for the ICFI bull call spread priced on this page is roughly $76.73 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 ICFI market-implied 1-standard-deviation expected move is approximately 14.79%; 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 ICFI?
- Bull call spreads on ICFI reduce the cost of a bullish ICFI 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 ICFI implied volatility affect this bull call spread?
- ICFI ATM IV is at 51.60% with IV rank near 6.87%, 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.