IMMR Bull Call Spread Strategy
IMMR (Immersion Corporation), in the Technology sector, (Software - Application industry), listed on NASDAQ.
Immersion Corporation, together with its subsidiaries, invents, scales, and licenses haptic technologies that allow people to use their sense of touch to engage with and experience various digital products in North America, Europe, and Asia. The company provides technology, patent, and combined licenses. It also provides software development kits (SDKs) comprising tools, integration software, and effect libraries that allow for the design, encoding, and playback of tactile effects in content. In addition, the company offers reference designs and reference technology, engineering and integration services, and software and firmware services. The company offers its products to mobile communications, wearables, and consumer electronics; gaming and virtual reality (VR); automotive; and other markets. Immersion Corporation was incorporated in 1993 and is headquartered in Aventura, Florida.
IMMR (Immersion Corporation) trades in the Technology sector, specifically Software - Application, with a market capitalization of approximately $211.5M, a beta of 1.00 versus the broader market, a 52-week range of 5.25-8.15, average daily share volume of 520K, a public-listing history dating back to 1999, approximately 14 full-time employees. These structural characteristics shape how IMMR stock options price implied volatility around earnings windows, capital events, and macro-driven sector rotations.
A beta of 1.00 places IMMR roughly in line with broader market moves, so the strategy payoff and realized volatility track the index-equivalent baseline. IMMR 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 IMMR?
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 IMMR snapshot
As of May 15, 2026, spot at $6.13, ATM IV 67.70%, IV rank 25.42%, expected move 19.41%. The bull call spread on IMMR 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 IMMR specifically: IMMR IV at 67.70% is on the cheap side of its 1-year range, which favors premium-buying structures like a IMMR bull call spread, with a market-implied 1-standard-deviation move of approximately 19.41% (roughly $1.19 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 IMMR expiries trade a higher absolute premium for lower per-day decay. Position sizing on IMMR should anchor to the underlying notional of $6.13 per share and to the trader's directional view on IMMR stock.
IMMR bull call spread setup
The IMMR 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 IMMR near $6.13, the first option leg uses a $6.13 strike; additional legs (when the strategy has them) anchor to spot-relative offsets. Premiums come from the bid/ask midpoint on the listed IMMR 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 IMMR shares for the stock leg in covered calls and collars).
| Action | Type | Strike / Basis | Premium (est) |
|---|---|---|---|
| Buy 1 | Call | $6.13 | N/A |
| Sell 1 | Call | $6.44 | N/A |
IMMR 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.
IMMR bull call spread payoff curve
Modeled P&L at expiration across a range of underlying prices for the bull call spread on IMMR. 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 IMMR
Bull call spreads on IMMR reduce the cost of a bullish IMMR stock position by selling a higher-strike call; suited to moderate-move theses where price reaches but does not vastly exceed the short strike.
IMMR thesis for this bull call spread
The market-implied 1-standard-deviation range for IMMR extends from approximately $4.94 on the downside to $7.32 on the upside. A IMMR bull call spread caps both the risk and the reward of a bullish position; relative to an outright long call on IMMR, the spread reduces the cost basis but limits the maximum profit to the strike width minus net debit. Current IMMR IV rank near 25.42% 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 IMMR at 67.70%. As a Technology name, IMMR options can move on sector-level news flow (peer earnings, regulatory updates, industry-specific macro data) in addition to IMMR-specific events.
IMMR 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. IMMR positions also carry Technology sector concentration risk; news flow inside the sector (peer earnings, regulatory shifts, supply-chain headlines) can move IMMR alongside the broader basket even when IMMR-specific fundamentals are unchanged. Long-premium structures like a bull call spread on IMMR 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 IMMR chain quotes before placing a trade.
Frequently asked questions
- What is a bull call spread on IMMR?
- A bull call spread on IMMR is the bull call spread strategy applied to IMMR (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 IMMR stock trading near $6.13, the strikes shown on this page are snapped to the nearest listed IMMR chain strike and the premiums come straight from the end-of-day bid/ask midpoint.
- How are IMMR 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 IMMR bull call spread priced from the end-of-day chain at a 30-day expiry (ATM IV 67.70%), 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 IMMR bull call spread?
- The breakeven for the IMMR 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 IMMR market-implied 1-standard-deviation expected move is approximately 19.41%; 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 IMMR?
- Bull call spreads on IMMR reduce the cost of a bullish IMMR 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 IMMR implied volatility affect this bull call spread?
- IMMR ATM IV is at 67.70% with IV rank near 25.42%, 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.